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The previously estimated Arkansas budget surplus of $1.473 billion grew to a record $1.628 billion, which resulted in Gov. Asa Hutchinson on Tuesday (July 5) calling for an Aug. 8 special session to discuss possible tax cuts.
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Gov. Asa Hutchinson said his budget calls for reducing the top individual income tax rate for new residents to 4.9% for five years. Doing so would attract tech and manufacturing talent and also retirees.
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Recently re-elected Arkansas Governor Asa Hutchinson (R) is presenting his budget to state legislators today in Little Rock. Watch his presentation…