Said in CommitteeBeta

Exactly as spoken.

Revenue & Taxation- House

May 4, 2026 ·5:15 PM ·Room B, MAC ·41:28
Video Transcript 1 document

Bills discussed (1)

Bill Title Sponsor Status
HB1001 Act 2 · 4 mentions in chapter, transcript, agenda
Matched: “HB1001 Eaves TO REDUCE THE INCOME TAX RATES FOR INDIVIDUALS, TRUST…”
AN ACT FOR THE ARKANSAS HOUSE OF REPRESENTATIVES OF THE NINETY-FIFTH GENERAL ASSEMBLY APPROPRIATION FOR … Evans Notification that HB1001 is now Act 2

Official video page ↗

Transcript

Transcript available Whisper ✓ SliQ live captions: not yet available Download .txt
Machine transcript

May contain errors. Verify important quotations against the official video.

About transcript accuracy
Source
Whisper
Model
ggml-large-v3-turbo.bin RTX5060
Processing date
October 5, 2026
Unknown speaker 0:00
Thank you. Thank you. Thank you. Thank you.
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 2:00
members it's 5 15 I'm gonna call the meeting to order thank y'all all for coming and appreciate it coach here do you have anything you'd like to say no we're good thank you thank you all right thank you with that we have one bill to hear today and representative eaves if you'll come down if you will please Please introduce yourself for the record, and you'll be recognized to present.
▶ Play Suggest a correction Report an error
Representative Les D. Eaves Unverified 2:37
Thank you. Representative Les Eves from District 58. You're recognized. Members, I have in front of you today House Bill 1001. Pretty simple bill. Lowers the personal income tax rate to 3.7. That will be retroactive this year. It will also reduce the corporate rate from down to 4.1, and that will be as of 2027. So it's pretty simple to understand what the bill does there in front of you. But I want to take, if you'll allow me, just a minute to put what we're doing into a perspective. Over the last decade, Arkansas has returned billions of dollars to its taxpayers. We've lowered rates across every income level and built a system where working families can keep more of what they earn. and that's not a tax cut for the rich that's real relief for the citizens of Arkansas and it's important to remember this this is a continuation of a proven policy this bill is not a new idea it's the next step in a decades-long effort to lower taxes for every Arkansan and the focus has always been on working families we started by cutting taxes for low-income Arkansans, eliminating taxes for tens of thousands, and building a system where the lowest earners pay the least. And this keeps Arkansas competitive. We all know we have neighboring states that have no income tax, but there are states all over the country that are either eliminating or on the path to eliminating or lowering their income tax rates, so we can choose to stay competitive or we'll fall behind. And the success of this strategy is clear. Arkansas is now recognized as one of the leading states for economic outlook so maintaining that momentum matters but the most important of this is the 3.7 percent the new rate that will that will be reaches ordinary working families under this bill income above 26,400 for taxpayers in the lower table will be taxed at 3.7 percent this is broad-based tax relief for everyday working Arkansans. So I want to say that again. If you earn $26,400 in taxable income, this bill will affect you. That's relief for your teachers, nurses, truck drivers, factory workers, small business owners, police, and families just trying to keep up with the cost of living. This bill is about something simple and fundamental, letting working Arkansans keep more of what they earn. It strengthens our competitiveness, it rewards hard work, and it keeps us on a responsible, proven path of broad-based tax relief. So over the decade, over the past decade, we've delivered meaningful across-the-board tax relief. Today, those reforms add up to nearly a billion dollars a year staying in the pockets of Arkansas families. And this isn't concentrated at the top. The benefits reach more than a million Arkansas taxpayers. For the average taxpayer, to put this in real world terms, means real money back in their household budget, roughly $800 to $1,000 every year based on what we've done already that's groceries gas school supplies or savings for the future that's relief people can feel so let's keep the momentum going and continue to lower the tax burden grow our economy and stand firmly on the side of working arkansans thank
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 6:25
you members do we have any questions seeing none oh representative Wooten you're recognized well let me get
▶ Play Suggest a correction Report an error
Representative Jim Wooten Unverified 6:43
you clicked on thank you there you go okay thank you madam chairman representative Eve's on the fiscal impact statement on the back pay on the second page it shows 163 million one year in 27 and in 28 it shows 109 million is that before the 310 million that we have in surplus will that will that reduce the surplus from 310 down what 163.5 and that is correct That's correct. That is correct, sir. Okay. One follow-up question. On the 28th year, it shows $109 million impact. Is the difference between the $163 million and the $109 million made up by increased income tax? Well, yes, sir. I probably would let DF&A answer that
▶ Play Suggest a correction Report an error
Representative Les D. Eaves Unverified 7:46
question in more detail as far as that, but I believe you're on the right track. Okay.
▶ Play Suggest a correction Report an error
Representative Jim Wooten Unverified 7:52
thank you thank you madam chair any
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 7:56
other questions members seeing none do i have a motion from rep johnny do you have a question okay okay um representative clore do you have a motion
▶ Play Suggest a correction Report an error
Representative Rick McClure Unverified 8:20
wait or and against the bill all be equally allowed five minutes each okay so
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 8:25
the motion is you're going to limit debate to each witness to five minutes each that is correct okay uh that is a proper motion it's non-debatable all in favor say aye opposed say nay no okay the ayes have it. With that, we're going to go down to the people in the audience who'd like to speak for or against. The first person that we have signed up to speak against the bill is Anna Mordeschi. If you'll come down, and I hope I didn't butcher your name, and if you will come down and please introduce yourself for the record and you'll be recognized. And Brandon will be
▶ Play Suggest a correction Report an error
Anna Morshetti Unverified 9:03
keeping record how long you're speaking. Thank you. Wonderful. Thank you so much. Good evening. My name is Anna Morshetti and I'm a policy director at Arkansas Appleseed Legal Justice Center. We're a nonprofit advocacy organization that works hard for strong schools and good government and thank you all for giving me the time to speak tonight. Our organization's mission is to make Arkansas a better place to live and work and that's a broad mission and intentionally so because the progress needed in Arkansas is broad. From health outcomes to learning outcomes to life expectancy to quality of life, Arkansas is at the bottom of some lists that none of us want to be at the bottom of. We do our work because we believe that good state government, the work being done in this building by you, the elected stewards of the people's money, is one of the best tools we have for climbing to the top of those lists. We believe nobody but the Arkansas state government has the resources necessary for keeping failing hospitals from closing. We believe nobody but the Arkansas State Government has the resources necessary for fully funding our state's public schools. Nobody but the Arkansas State Government has the resources for ensuring every child in Arkansas can access quality early childhood education and pre-k. Nobody but the Arkansas state government can rebuild roads and bridges, expand broadband access, or grow our state's health care infrastructure. That's why we are asking you to vote no on this new set of tax cuts. Given our state's condition and the investments required to improve outcomes here, we simply can't afford to cut spending. We recently released a report that found in order for Arkansas's public education spending to match the national average, we'd need to increase our per-student spending by 30%. We spend $4,000 less per student than the national average. We spend $1,500 less per student than Alabama, $2,000 less per student than Louisiana, $3,000 less per student than Missouri, and $4,000 less per student than South Carolina. In order to merely catch up to our peer states in public education spending, we need to be spending at minimum $674 million more each year. And we're certainly not here to ask you to write a check for that today. We're here to ask you to consider whether we can afford a $180 million tax cut while our regional peer states are pulling out ahead of us in both public education spending and public education outcomes. 3,000 Arkansas children currently sit on a wait list for quality early childhood education in Arkansas. We could clear that wait list today with investment of roughly $15 million. Universal access to quality pre-K would cost the state roughly $300 million. Again, we're certainly not asking you to write that check today. We're here for you to consider whether we can afford a $180 million tax cut with a backlog of families who need access to quality early learning. Last week, as you know, the legislature approved an education budget that features roughly $380 million in spending for private school vouchers. Available data indicates that 80% of that spending, or $300 million, will go to families whose children were already enrolled in private school prior to their receiving a voucher. Our state's private school voucher spending now makes up 6% of our state budget, and some lawmakers have indicated their intention to continue growing the Education Freedom Account program. We're here to ask you to consider whether we can afford $180 million tax cut given the stated intention to grow EFA expenditures year to year. Over the last decade, this body has cut the state's income tax rate by roughly 40% to historic lows. We like low taxes, just like everybody else, but we're asking you to vote no on yet another tax cut. We shouldn't be competing with neighboring states for the lowest tax rate. We should be competing with neighboring states for the best learning, health, and life outcomes in the South. And winning those far more important contests is going to require investments we can't afford if Arkansas keeps cutting revenue. Thank you so much for your time. Thank you.
▶ Play Suggest a correction Report an error
Speaker 22 13:46
Members, do we have any questions?
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 13:49
Seeing none, thank you for coming. Appreciate you being here tonight. Thank you so much. You're welcome. All right. Is anyone in the audience would like to speak for the bill? Seeing none, the next one on the list to speak against the bill is Missy Joyce. If you will come down, if you will introduce yourself for the record and you'll be recognized. And thank you
▶ Play Suggest a correction Report an error
Missy Wyatt-Joyce Unverified 14:25
for coming today. Good afternoon Chair Kavanaugh and members of the committee. My name is Missy Wyatt-Joyce. My husband and I, Jeb, live in Fayetteville and we have two children that are no longer children. I was born and raised in Fort Smith. My dad was a basketball coach at what used to be West Ark Community College. I want to introduce you to our oldest, Hunter Joyce. Hunter was due in November of 2001, but he arrived in August. He was born 14 weeks premature. He weighed two pounds, three ounces. We like to say he didn't want to miss football season. He arrived home from his 10-week stay in the NICU at Baptist Health in Little Rock just in time to witness Arkansas' seven overtime victory over Ole Miss and he's been a Razorback ever since. While in the NICU, Hunter's team of neonatologists discovered that he had paraventricular leukomalacia, which is a brain injury that affects the white matter in the nerve pathways that carry signals to other parts of our bodies. When he was two years old, he was diagnosed with spastic quadriplegic cerebral palsy, meaning all of Hunter's limbs are affected. He uses a power wheelchair to navigate his home and community and he is 100% physically dependent on others for every aspect of his daily life he relies on another person to help him out of bed to transfer to his shower chair to use the restroom to take a shower to transfer back to his bed to get dressed to eat to drink to use a napkin to take his meds to brush his teeth to access his modified van to drive him where he needs to go and to access those places when he gets there he relies on other people to provide maximum physical support for anything he needs to do hunter wanted to be here today to tell his own story however he is a law school final tomorrow he uh in wills trust in the states and won in employment discrimination on thursday although he is absolutely physically dependent on others hunter graduated from the university of arkansas phi beta kappa with a degree in political science and a minor in history in 2024 He was accepted to law school and is wrapping up his 2L year this week with his last two finals. He's on track to graduate next May. Hunter's disability, though significant, has not prevented him from living his best life and achieving some remarkable outcomes. at the same time hunter as determined and resolute as he is would not be able to achieve these outcomes or live his best life without the constant physical supports he needs that are provided through home and community-based services and more importantly supported living hunter cannot live the life he is
▶ Play Suggest a correction Report an error
Speaker 33 17:36
choosing in a residential or institutional
▶ Play Suggest a correction Report an error
Missy Wyatt-Joyce Unverified 17:41
setting but for years we as a state have starved supported living and that system is starved to the point that the 2025 rate study that you mandated shows it is 23 percent underfunded 23 percent hunter throughout undergrad and law school has endured constant turnover and chaos in his support staff because it is impossible to maintain stability at the current reimbursement rates. He has never had DSPs not working overtime, which only deepens the deficit of his non-profit provider because passes will not reimburse overtime. His supported living nonprofit provider operated at an $8 million deficit in 2025, $8 million. It is simply not sustainable. It is time to fund supported living. It is time to increase the reimbursement rates that were mandated in Act 1023. and it is time to fund services for all of the hunters and i hope you will choose to do so before you choose to cut more taxes because the hunters need it far more than the individuals the trusts the estates and the corporations you're targeting thank you for your time thank you members
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 19:31
do we have any questions seeing none thank you for coming tonight appreciate you being here is there anybody in the audience who would like to speak for the bill seeing none the next person I have signed up to speak against the bill is Preston click and if you will make your way down and if you will please introduce yourself for the record and you're
▶ Play Suggest a correction Report an error
Speaker 40 20:07
recognized thank you very much good afternoon my name is Preston Clegg and I'm the pastor of Second Baptist Church here in downtown Little Rock and I thank you for your time today in your service to our state I've come to express my sincere concern about where this tax cut in a long line of tax cuts is likely to lead us as a state. We're already seeing rural hospitals close departments and limit services. We are seeing public schools meet in dilapidated buildings and with extremely constrained resources. We know that we are the most food insecure state in the country which is heartbreaking in a state that produces so much food while small farmers are going under. We are seeing people lose their SNAP benefits, and this before the full weight of federal SNAP funding cuts fall squarely on the shoulders of the states, including this one. Many people in this state are hurting right this minute. Meanwhile, we live in a state that is home to some of the richest corporations and people in this country and even the world. I understand the appeal of cutting taxes. I can't think of a person who dances when taxes are deducted from their paychecks or when they pay their quarterly estimates. I certainly don't. But I do cherish public schools and what they mean to the communities around this state. I appreciate good roads and recognize their role in the accumulation of wealth for numerous companies in this state and beyond. I don't believe a single child in this state should be hungry today. And I believe every person in this state should have access to good health care. These tax cuts jeopardize those services in the long term, all of which contribute to human flourishing in this state, and some quite literally save lives. Over and over again, we rightly praise certain types of service as contributing to the common good. Military service, civil service, public service like yours. all of which demands substantive and significant sacrifices from real people. I see paying taxes in a similar, though much less sacrificial, vein. It is a way in which each of us proportionately contributes to the shared good of all of us. While I am certainly no tax policy wonk, I do care about the common good and that it should be shared by every citizen in this state. my fear is that in a state where so many people are struggling towards bare essentials cutting critical services does more fiscal damage than what the proposed tax savings can compensate for what does the average tax savings mean if you lose health insurance or access to health care in your rural town and have to drive another hour to get the care you need or if you lose snap benefits that total much more than those savings What does saving what if spread among every Arkansas adult equates to $64 of tax savings mean if your local elementary school has to have three more fundraisers to meet their basic needs? Ultimately, these modest tax savings come at a very high price for many people in our state. I invite and urge you as our leaders to carefully and responsibly look at the human costs of these cuts. Surely we can agree that the ultimate bottom line is not merely net revenue, but human flourishing. My faith teaches me that to whom much is given, much is expected, meaning that responsible privilege and power, which wealth tends to afford, leads to responsible sacrifice. this fiscal trajectory however seems to be willing to further burden the vulnerable if necessary in order to alleviate tax burdens from the most wealthy my faith teaches me to esteem and honor the poor while being sober-minded and clear-eyed about the corrosive dangers of greed to any and every community including the state my faith teaches me that god is found first and foremost in solidarity with vulnerable people and is seen most often in the faces of the least of these. For these reasons, I feel compelled to express my concern and raise the red flag of alarm. I know that tax policy can be very complicated, and I pray for you as you shape it. I pray for wisdom to see not merely short-term benefits, but long-range costs. i pray you see all the faces of the people of this state as you deliberate and i thank you for your service and your attention today thank
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 25:12
you for being here any questions members seeing none thank you for coming appreciate you being here is there anyone that would like to speak for the bill seeing none the next person signed up to speak against the bill is michelle pedro And if you will come down, and if you will please introduce yourself for the record, and you're recognized.
▶ Play Suggest a correction Report an error
Michelle Pedro Unverified 25:55
Thank you. Hello. My name is Michelle Pedro, and I'm a resident of Springdale, Arkansas. I'm here today as a single mother, but I'm also here as a witness to the quiet, desperate struggles happening in our neighborhoods every single day. I want to be clear about who I am. I'm a hard-working mom who is doing okay for now. I work hard to provide for my children, yet I know the sinking feeling of looking at a grocery receipt and realizing it costs twice as much to buy half as much. I know what it's like to have to choose which utility bills to get paid so that my children can eat. But my testimony isn't about my own kitchen table. My life is spent helping families who are in positions far more dire than my own. I work for a nonprofit called the Arkansas Coalition of Marshallese, and we serve the Marshallese community here in Arkansas. In my community, I sit with grandfathers and grandmothers who can't afford a simple doctor's visit or medication. I talk to people who are literally getting sicker because navigating the red tape isn't as simple as it seems. Right now, nearly one in three Arkansans don't know where their next meal is coming from. Our state currently holds the heartbreaking title of having the highest food insecurity rate in the country. These are not statistics. These are our people. I understand the appeal of tax cuts, everyone wants more money in their pocket, but a tax cut of a few dollars a month does nothing for the family that just lost their Medicaid coverage. I myself am not eligible for Medicaid or SNAP benefits. It does nothing to help the senior citizens who are homebound and hungry because of our community programs are underfunded. When we prioritize further tax cuts over funding our essential services, we are closing or we are choosing a temporary superficial benefit over the survival of our most vulnerable citizens. We are essentially telling the sick and elderly that their health and dignity are less important than a line item in a budget. Please don't look at these services as handouts, but as investments. When we invest in healthcare and food security, we are investing in a workforce that is healthy enough to work and take care of their families and their children, and their children can go to school without being hungry. Please don't take out, please don't cut the lifeline that so many Arkansans are clinging to. Please prioritize the funding of our health care system and food assistance programs. Let's make Arkansas a state known not for its hunger, but for how fiercely we look after one another. another and for the gentleman who said relief for families please consider relief for everyone in every family in every community thank you for your time
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 29:43
thank you members are there any questions seeing none thank you for coming appreciate it is there anyone signed up to speak for the bill seeing none. The last person we have signed up to speak against the bill is Pete Guest. If you want to come down and introduce yourself for
▶ Play Suggest a correction Report an error
Speaker 48 30:10
the record and you're recognized. Pete Guest, Economic Policy Director at Arkansas Advocates for Children and Families. Good evening Chair Cavanaugh, members of the committee. thank you for this opportunity to speak against HB 1001. There are several reasons the individual and corporate income tax rate should not be reduced at this time. We are experiencing a perfect storm of economic pressure on the state budget. Inflation stands at 3.3 percent making it more expensive for the state to do business. The percent of jobless Arkansans is growing currently above the national level. The federal government is placing new demands on state budgets, notably in the food assistance and health care sectors. As you know, Arkansas will have to spend an additional $18 million to run the Supplemental Nutrition Assistance Program in the coming year, an amount that could reach $80 million a year soon. President Trump has also said he expects states to spend more dollars in such policy arenas as housing, disaster recovery, and childhood education. Further, some of our state policy decisions are expensive. As we've heard already, based on the growth in applications, education freedom accounts may top $400 million this coming year. The pay plan that you passed last year will continue to require investments. Additionally, we know Arkansans have pressing needs. I know you are worried that some of our rural and not-so-rural hospitals are closing or shedding important departments. Many more are unable to balance their budgets. Federal decisions will only exacerbate the pressure on our hospitals, and the Rural Hospital Transformation Fund only makes up 5% of the expected loss from Medicaid cuts. As you just heard from Arkansas Appleseed, the state is funding our K-12 education at a per-person level that is $4,000 below the national average. We trail our southern peers as well. The early child care crisis is costing the state of Arkansas nearly $800 million a year in lost earnings, productivity, and revenue. I've heard many of our lawmakers express concerns about how we are caring for seniors, especially as programs that feed the elderly lose the federal grants that have sustained these programs. Families feel strained as housing, transportation, and food becomes less affordable. I'm sure you have heard from your constituents about these and other needs. More than half a million Arkansas households either cannot cover basic needs, or fully live in poverty. It's not the tax liability that's the challenge for these households. It's the cost of these basic needs. And it is these very Arkansans who will not see a substantial benefit from this proposed tax cut. As a DF&A fiscal note indicates, more than 20% of earners in Arkansas will see zero benefit. Those that make between $74,000 and $99,000 will only receive a $77 tax benefit on average, less than a quarter a day. These amounts will not help families struggling to afford groceries or gas. Meanwhile, the 80-20 rule applies. The top 20 percent of earners will receive 80 percent of the tax benefit. I'll add that state spending is not out of control. In fiscal year 2025, Arkansas ranked 31st of 50 states in expenditures per person. Subtracting federal dollars, Arkansas ranks 27th. We are below the national median in state government expenditures. If you ask our Kansans if they want a tax cut, of course they say yes. After all, who doesn't? But when you make the link between taxes and governmental services, answers change. We just completed a statewide scientific poll of registered Arkansas voters in partnership with Change Research. Sixty-three percent of voters prefer to maintain the current income tax rates in order to invest in programs and services. And what investments do Arkansans want? Health care, K-12 education, reducing childhood hunger, and reducing poverty. These four on the priority list are the same across political affiliation and income levels across Arkansas. Income tax contributes nearly 50% of our general revenue, but it also enhances both empowerment and freedom for the people of Arkansas. Before we had a federal income tax, many of our senior citizens worked until death. Social Security changed that, freeing our older citizens to participate in civic and social life, strengthening our communities. At the state level, income tax provides for our schools. It is difficult to come up with a better example of a public good that empowers our young people to live fulfilling
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 35:15
lives. Sir, your five minutes is up. If you want to wind that thought up
▶ Play Suggest a correction Report an error
Speaker 48 35:21
and then. Thank you. I just ask that you, like your constituents, prioritize investments in public programs and services over income tax cuts. Thanks. Thank you for being here.
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 35:30
Members, are there any questions? Seeing none, thank you for being here. Appreciate it. members or is there anybody or audience is there anybody would like to speak for the bill against the bill seeing none representative Eves would you like to close for your bill thank you in sitting over there
▶ Play Suggest a correction Report an error
Representative Les D. Eaves Unverified 36:00
trying to debate on whether or not I needed to officially closed or not I don't even really know where to begin on some of these items I think my opinion is in the past decade Arkansas has been pretty smart and careful about our income tax cuts some other states have done it different and got themselves in trouble I think we've been responsible and what we've done I also think two things can be true at the same time no services are being cut in this bill public schools receive the largest amount of money that they've received in the history of the state recently. I know that's a whole other topic, but that was brought up. And I think it's important to keep in mind that income tax cuts, the way we're doing them, are going to just reduce future surpluses. And what we've seen in the past decade really is every time we have cut the income tax rate, we've seen enormous and significant surpluses. Do I think we're going to continue to see $600 million, $800 million or more surpluses in the future? No, but I think we're on track to still see significant surpluses. Again, this reduces those future surpluses and gives people back home more of their own money to keep and take care of their families. There was a comment about it's only $77. At the end of the day, like I said earlier, you're looking at families on average are receiving $800 to $1,000 a year. I don't think that's an insignificant amount for folks back home. I have great respect for the folks that came and spoke against the bill they all they have topics that are important to them do I think there are areas in government that we are not fully funding yep and next session I plan to look at those as well but I think fully funding government giving people back home more their own money is important and that's what I was sent here to do and that's what we're doing today in this bill so with that I'm closed and
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 37:58
I'll make a motion to pass thank you members we have a motion do pass is there any discussion on the motion
▶ Play Suggest a correction Report an error
Representative David Ray Unverified 38:08
representative right you're recognized thank you madam chair I just want to briefly echo a couple of the things that representative Eves touched on and also address some of the points that were made in the testimony for members because I think the two objections that I heard basically boiled down to this idea that there are a lot of societal problems that need additional funding and the reality is that year after year this legislature continues to address many of those things whether it is investing in our highways and infrastructure whether it is raising teacher pay from bottom five in the country to top five in the country, whether it's public safety, uh, raising, raising competitive salaries for state employees, the list goes on and on. We continue to do those things. We continue to invest in key areas. The idea that we can't, we can't help taxpayers until we solve all of society's social ills, uh, is just moving the goalpost to a point where, um, we would never do anything to help taxpayers if that were if that were the the standard the other point that kept being brought up is this idea that somehow this doesn't help working families the reality is if you go back 10 years to when we started lowering the income tax this this is a step in that process and if you add up all those cumulative savings for a typical family for example, a husband and wife on a starting teacher salary, the annualized savings from these tax cuts is approximately $2,000 a year for that family. And then if you add in the tax cuts that have taken place at the federal level for a typical family, you're looking at almost $3,000. I don't know a single working family in this state that has not benefited from an additional $5,000 in income that they can choose not some bureaucrat hundreds or even thousand miles away but that they can use for their family to invest in their needs whether it's child care whether it's retirement whether it's their health care needs so there's there's i just totally reject this idea that that tax relief doesn't benefit working families at the end of the day this bill benefits over 1 million Arkansas taxpayers, and it's going to help grow our economy. The best thing that we can do to continue investing in key priorities is to enact pro-growth policies that keep our economy growing, keep us moving in the direction as a net beneficiary of in-state migration, growing our population, growing our tax base so that we can continue to invest in key areas. So I appreciate representative Eve's for bringing this bill and I'm going to be supporting it and I hope you will, too
▶ Play Suggest a correction Report an error
Representative Frances Cavenaugh Unverified 41:01
Members any other discussion Seeing none So we have a motion do pass all in favor say aye Opposed say nay Congratulations your bill has passed representative Eve's. Thank you Members seeing nothing else. We are adjourned You
▶ Play Suggest a correction Report an error

Agenda

Call to Order

2:12

HB1001 Eaves TO REDUCE THE INCOME TAX RATES FOR INDIVIDUALS, TRUSTS, ESTATES, AND CORPORATIONS.

2:22

Adjournment

41:25

Speakers

Representative Frances Cavenaugh Unverified
21 segments
Representative Les D. Eaves Unverified
14 segments
Representative Jim Wooten Unverified
6 segments
Representative Rick McClure Unverified
1 segment
Anna Morshetti Unverified
9 segments
Speaker 22
1 segment
Missy Wyatt-Joyce Unverified
11 segments
Speaker 33
1 segment
Speaker 40
10 segments
Michelle Pedro Unverified
7 segments
Speaker 48
12 segments
Representative David Ray Unverified
6 segments