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    Arkansas Business headlines for Jan. 22

    7:20 AM, Jan 22, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- No stocks yesterday as the market took Martin Luther King Day off.

    President Obama's inauguration wasn't the only activity happening in Washington. The Republican-led House of Representatives introduced a bill that will let the Fed continue borrowing money for the next three months.

    If the bill passes both houses of Congress, Wall Street may be able to take a breather before getting nervous about the nation's debt limit again.

    Arkansas Republicans, who are running both houses of the state legislature for the first time in over a century, say that there's no rush in cutting taxes.

    The Senate chairman of the Revenue and Taxation committee, Sen. Jake Files of Fort Smith, says he can see that any cuts made will have to have justification behind it pointing to where the missing revenue will come from.

    The House chairman, Rep. Charlie Collins of Fayetteville, agrees there's no hurry, but also says that he's planning on a bigger tax cut than the $35 million deal that was negotiated during the last legislature, when the Democrats were in control.

    QualChoice of Little Rock soon will be offering dental, vision and short-term gap health insurance.

    The move is designed to boost profits for QualChoice. Under health care reform, strict rules are in place regarding how much money a health insurance company can make on most insurance products.

    The plans should be available in the spring.

    The City of Hot Springs brings in a record amount of revenue on hotel and restaurant tax, and most likely has Oaklawn to thank.

    The 3 percent tax on all rooms and meals in the city generated $5 million, the most in the tax's 48-year history. 

    Three  percent tax on hotels rooms and restaurant meals in Hot Springs has generated $5 million for the first time in its 48-year history.

    Live racing at Oaklawn combined with electronic gaming the single largest driver behind the tax, according to Hot Springs' Sentinel-Record.

    And every dog apparently has his day in Arkansas.

    The state ranked Number One in the nation for dog ownership, according to the American Veterniary Medical Association.

    The nonprofit says that nearly 47.9 percent of all households in the state have a dog. For comparison's sake, Massachusetts came in last place with canine ownership of only 23.6 percent.

    Back in 2006, Arkansas ranked No. 7 with dog ownership of 48.8 percent.

    (Source: Arkansas Business)

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