Panel advances income, capital gains tax cuts

    9:04 PM, Mar 26, 2013   |    comments
    • Share
    • Print
    • - A A A +

    LITTLE ROCK, Ark. (AP) - A House committee has advanced bills to cut Arkansas' income and capital gains taxes as legislative leaders say they're nearing agreement on a $100 million package of reductions that may depend on approving an expansion of health insurance for low-income residents.

    The House Revenue and Taxation Committee approved the proposals Tuesday and sent them to the full House. They're among several tax cut proposals that could be part of a package legislative leaders are negotiating.

    The income tax cut proposal would cost the state about $57 million a year. The capital tax cut proposal would cost the state $3.1 million next year, but the cost would eventually grow to nearly $28 million.

    Gov. Mike Beebe has said a substantial amount of cuts could be funded by the health insurance expansion.

    (Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

    Most Watched Videos