Pulse THE POLK COUNTY
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December 15, 2021
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Historic tax cuts for all Arkansas taxpayers
INSIDE:
Representative John Maddox sponsors bill
By Ethan Nahté
Horne resigns
High-Speed Chase
Page 10
Page 19
Christmas Worship Guide
Page 14
History was made in Arkansas on Dec. 9 when Gov. Asa Hutchinson signed into law the largest state income tax reduction ever for individuals and corporations at nearly $500 million that will benefit every taxpayer, regardless of income bracket. Hutchinson opened the press conference on Thursday by stating, “I want to take this moment to thank the General Assembly, as a body, for one of the most successful special sessions in history. Each member has stepped up to the plate and passed historic tax cuts that will put Arkansas in the position in the future to be competitive, to put more money into individuals’ pockets. “First, we reserved $1.2 billion in our savings account; formally, our longterm reserve, and now our catastrophic reserve fund. That is there to meet the needs of our state. “Second, we passed legislation that will allow for competitiveness in our economic development projects. One specific project in Arkansas that will create hundreds of jobs if we’re successful. The general assembly stepped up and said ‘We want to compete. We want to win. This is the way to do it.’ This is consistent to us bringing great paying jobs to our part of Arkansas. “Thirdly, in 2015 we passed $100 million in a middle-income tax cut. The next session was a $50 million tax
A historic tax cut bill was signed into law by Gov. Asa Hutchinson (center) Tuesday, Dec. 9. Some key state senators and representatives in the creation of the bill include: (l-r) Sen. Bill Sample, chairman of the Senate Revenue and Taxation Committee; Sen. Jonathan Dismang; Speaker of the House Matthew J. Shepherd; Gov. Asa Hutchinson, Rep. John Maddox; Sen. Jimmy Hickey Jr., President Pro Tempore of the Senate; Rep. Joe Jett, chairperson of the House Revenue and Taxation Committee.
(Photo courtesy of the office of the governor.)
cut for low-income individuals. We followed that with cutting the rates with historic cuts. The next time was capped off today. “When I became governor, it started off at 7% and is now at 5.9%. Next January, it will 5.5% down to 5.3% and over time, down to 4.9%. This is an incredible success story for this General Assembly and this special session.” State Rep. Maddox, who represents Polk and Montgomery counties, as well as a portion of Howard County, was re-
sponsible for the drafting of the bill and determining what went into. In an interview with Pulse Multi-Media the day following the conference, Maddox explained, “Arkansas’s income tax rate was 7%, which is extremely high, especially in comparison to all of the surrounding states. That’s one reason I brought this legislation to at least try and get us competitive. Texas and Tennessee have zero income tax.
See TAX CUT continued on page 8