The $35 million tax cut deal reached by members of the Arkansas House and Senate last week are rapidly coming to a close with both chambers’ tax and revenue committees approving their respective cuts for later consideration by the full chamber.
The House committee voted in favor Friday for cuts to groceries, used-car sales and manufacturer’s electric bills. The package is on the agenda for today when the House convenes at 1:30 p.m.
The Senate counterpart approved its three cuts this morning: an annual sales tax holiday (by El Dorado Rep. Matthew Shepherd), reduced taxes for single parents and an expansion of a tourism tax credit.
For more information and Shepherd’s reaction, see tomorrow’s News-Times.