LITTLE ROCK, Ark. (AP) - Arkansas Gov. Asa Hutchinson has signed into law his $50 million plan to cut income taxes for thousands of low-income residents.
The Republican governor on Wednesday signed into law bills outlining his proposal to cut taxes for more than 650,000 people making less than $21,000 a year. The tax cut is set to take effect in 2019.
The legislation also creates a 16-member legislative task force that will propose deeper income tax cuts before the 2019 session. Hutchinson says he doesn’t have a specific dollar amount for the cuts he wants to seek from the task force, which is required to issue its final recommendations by the fall of 2018.
Hutchinson was elected in 2014 on a vow to cut income taxes across the board.
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