Wonky Word Wednesday: Consumer Price Index
Have you ever wondered how budget makers and policy wonks are able to come up with how much money it takes to pay for something? A key part of understanding the value of goods is connected to our use of...
January revenue up, above expectations
January net general revenues are up because of higher than expected gains in all major tax categories such as sales tax and income tax. Revenue from January was higher than this time last year by about $37.6 or 7.8 percent...
AACF Weekly Legislative Update Vol. 3
HEALTH: This week, Gov. Hutchinson’s plan to continue the Private Option through 2016 passed in the Senate. This bill will also create a legislative task force to make recommendations about the future of the Private Option and comprehensive changes...
Corporate loopholes are costing Arkansas
Arkansas is losing millions in state corporate income taxes every year because of holes in our corporate tax laws. In particular, we lack a “combined reporting” law that would help ensure that large companies pay their fair share of...
Kids Count Day at the Capitol – The budget is a moral document
Remarks by AACF Executive Director Rich Huddleston at the Kids Count Day press conference: The state budget is a moral document. It represents Arkansas’s commitment to investing in the future of our children and families and ensuring that all...
Changing how we tax capital gains
A relatively small number of wealthy Arkansans who make money from the sale of investments reaped the benefits from the capital gains tax cuts passed in 2013. These expensive tax cuts, however, are likely to be scaled back. Today...
AACF Weekly Legislative Update Vol. 2
It was a short week at the State Capitol but that doesn’t mean it was uneventful. Here’s what you need to know: HEALTH: Gov. Asa Hutchinson asked lawmakers on Thursday to go along with a plan that would continue...
Governor’s tax plan leaves out poorest Arkansans
The governor’s new tax cut plan is a step in the right direction for tax fairness, but leaves out the poorest 20 percent of Arkansans and raises concerns about how the lost revenue will impact vital programs for children...
Arkansas ranks 11th in tax burden on poor
Arkansas ranks eleventh in the nation when it comes to taxing the poor. The poorest Arkansans, those making under $16,000 per year, pay two times more in taxes as a percentage of their income than wealthy Arkansans who make...
Monthly Revenue Report: December
Despite smaller than expected revenues from sales tax and individual income tax, December revenues came in above forecast. Higher than expected corporate income tax collections and lower tax refund payments contributed to the increase in revenues. Net general revenue...