Gov. Asa Hutchinson proposed a $5.7 billion budget for the upcoming year which outlines teacher raises and tax cuts. This plan would increase state spending by more than $129 million for the current fiscal year, which began on July 1.
The proposed budget includes $60 million to raise the minimum teacher salary in Arkansas to 36,000 annually over the next four years.
In addition, Hutchinson’s budget outlines a $111 million tax cut to the state’s top income tax rate to be put into place over the next two years. The tax plan intends to simplify tax tables and brackets, as well as increasing the standard deduction.
