LITTLE ROCK, Ark. – Gov. Asa Hutchinson said Tuesday that he is planning on calling a special session of the Arkansas General Assembly to start on December 7 to focus on a new proposed tax cut and other issues.
The governor said he had spoken with leaders in both chambers, who promised there were majorities in both the Arkansas House and the Arkansas Senate set to pass the proposed income tax reduction plan.
In his original plan announced in October, Hutchinson outlined a low-income tax break, combining the low and middle-income tax tables and starting a stair-step reduction of the top tax rate in the state, lowering from 5.9% to 5.5% then 5.3%.
He also said in October that a drop in corporate tax rates was being discussed at that time. It is not certain what parts of those plans are in the final legislation that would be going before state lawmakers.
In addition to the tax cut plan, Hutchinson said the lawmakers would discuss other “clean-up” matters, including moving money into the restricted reserve fund, cleaning up legislative language regarding appointments to the new state tax appeals commission, repealing an insulin bill passed in the last session and setting appropriations for funds from the American Rescue Act.
He also said there could be a bill for economic development put forward during the special session but did not offer any details on those plans.
The governor did note that new legislation on abortion restrictions would not be in his call for the session, saying that he feels Arkansas already has some of the toughest laws in the country.
He also noted that the U.S. Supreme Court is still considering the constiutionality of other state laws, so it would be premature to try and pass something before their decision.
Hutchinson said an official proclamation of the special session will be issued closer to the session, likely on Friday.