{"id":350,"date":"2017-01-18T21:21:51","date_gmt":"2017-01-18T21:21:51","guid":{"rendered":"http:\/\/arknews.org\/?p=350"},"modified":"2017-01-21T20:49:42","modified_gmt":"2017-01-21T20:49:42","slug":"governors-tax-plan-clears-senate-committee","status":"publish","type":"post","link":"https:\/\/arknews.org\/index.php\/2017\/01\/18\/governors-tax-plan-clears-senate-committee\/","title":{"rendered":"Governor\u2019s tax plan clears Senate committee"},"content":{"rendered":"
\"\"
SEN. JIM HENDREN<\/figcaption><\/figure>\n

 <\/p>\n

Governor's Hutchinson's tax cut for low-income earners advanced on a voice vote in the Senate Revenue and Tax committee Wednesday at the state Capitol.<\/p>\n

The $50 million tax cut is projected to benefit the 657,000 Arkansans who earn less than $21,000 a year. The bill also creates a legislative task force on tax reform.<\/p>\n

Senate Majority Leader Jim Hendren (R-Gravette), the bill\u2019s lead sponsor, called it \u201ca conservative tax cut.\u201d<\/p>\n

\u201cThe value of having the tax policy set at the front of the session [is] now you know what you can build your budget on,\u201d Hendren said. \u201cI really do think we\u2019re going to lay those bricks here and then we\u2019ll be good to go.\u201d<\/p>\n

Hendren filed an amendment Wednesday to add more co-sponsors to the bill. Monday is the earliest the measure could be voted on in the Senate, he said.<\/p>\n

House Majority Leader Matthew Pitsch (R-Fort Smith), the lead sponsor of the same tax cut bill in the House, said he plans on presenting the governor\u2019s $50 million tax cut proposal in the House Revenue and Tax Committee on Thursday.<\/p>\n

Rep. Warwick Sabin (D-Little Rock) said he would also present his low-income tax relief bill in the House Revenue and Tax Committee on Thursday. Sabin\u2019s bill is an alternative to the governor\u2019s plan. It would establish an Earned Income Tax Credit based on an individual\u2019s income.<\/p>\n

\u201cI think that\u2019s yet to be determined which one House members think is better, so we\u2019ll put them both out there,\u201d Pitsch said.<\/p>\n

Sen. Jake Files (R-Fort Smith), chairman of the Senate Revenue and Tax Committee, said he wants to have some debate on the EITC.<\/p>\n

\u201cI think it\u2019s better policy, personally,\u201d he said, \u201cbut I understand both sides of it.\u201d<\/p>\n

Files is the lead sponsor of the EITC bill in the Senate. He also has been added as a co-sponsor to the $50 million tax cut bill filed by Hendren.<\/p>\n

Files said if the EITC bill were to pass, it would replace the governor\u2019s proposed tax cut if it had already passed.<\/p>\n

According to legislative impact statements released by the Department of Finance and Administration, the governor\u2019s tax plan would reduce general revenue by $25.25 million in FY2019 and by $50.5 million in FY2020. Sabin\u2019s EITC plan would reduce general revenue by $40 million in FY2018,\u00a0which means over the long run it would cost the state less, but it would impact general revenue more steeply, sooner.<\/p>\n

\u201cNot only is this a more effective way to move people out of poverty, incentivize work, reduce dependence on social services and stimulate the economy, but it\u2019s also $10 million cheaper,\u201d Sabin said.<\/p>\n

Hendren said he doesn\u2019t think it\u2019s likely that Sabin\u2019s bill will replace the governor\u2019s plan.<\/p>\n

\u201cI think more people are more comfortable with [the governor\u2019s] approach,\u201d Hendren said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Governor’s Hutchinson’s tax cut for low-income earners advanced on a voice vote in the Senate Revenue and Tax committee Wednesday at the state Capitol.<\/p>\n","protected":false},"author":4,"featured_media":351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[17,20,16,19,18],"class_list":["post-350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arkansas-general-assembly","tag-asa-hutchinson","tag-jake-files","tag-jim-hendren","tag-matthew-pitsch","tag-taxes"],"yoast_head":"\nGovernor\u2019s tax plan clears Senate committee - Arkansas Nonprofit News Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arknews.org\/index.php\/2017\/01\/18\/governors-tax-plan-clears-senate-committee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Governor\u2019s tax plan clears Senate committee - Arkansas Nonprofit News Network\" \/>\n<meta property=\"og:description\" content=\"Governor's Hutchinson's tax cut for low-income earners advanced on a voice vote in the Senate Revenue and Tax committee Wednesday at the state Capitol.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/arknews.org\/index.php\/2017\/01\/18\/governors-tax-plan-clears-senate-committee\/\" \/>\n<meta property=\"og:site_name\" content=\"Arkansas Nonprofit News Network\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-18T21:21:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-01-21T20:49:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i2.wp.com\/arknews.org\/wp-content\/uploads\/2017\/01\/hendrenann.jpg?fit=1000%2C820\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"820\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ibby Caputo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/arknews.org\/#organization\",\"name\":\"Arkansas Nonprofit News Network\",\"url\":\"https:\/\/arknews.org\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/arknews.org\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/arknews.org\/wp-content\/uploads\/2021\/04\/annn_logo.png\",\"contentUrl\":\"https:\/\/arknews.org\/wp-content\/uploads\/2021\/04\/annn_logo.png\",\"width\":1200,\"height\":900,\"caption\":\"Arkansas Nonprofit News Network\"},\"image\":{\"@id\":\"https:\/\/arknews.org\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/arknews.org\/#website\",\"url\":\"https:\/\/arknews.org\/\",\"name\":\"Arkansas Nonprofit News Network\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/arknews.org\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/arknews.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/arknews.org\/index.php\/2017\/01\/18\/governors-tax-plan-clears-senate-committee\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/arknews.org\/wp-content\/uploads\/2017\/01\/hendrenann.jpg\",\"contentUrl\":\"https:\/\/arknews.org\/wp-content\/uploads\/2017\/01\/hendrenann.jpg\",\"width\":1000,\"height\":820,\"caption\":\"SEN. 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