Income Tax Cut Passes Senate on Second Try
The Governor’s income tax cut plan to drop the top income tax rate from 6.9% to 5.9% passed out of the full senate body on Wednesday (February 6) after failing the day before. No additional debate took place before the measure passed with 28 votes, one more than the 3/4thmajority vote required.
When fully implemented, the bill would save taxpayers $97 million per year. Three Senators who did not vote on Tuesday cast a yes vote on Wednesday: Sen. Bruce Maloch (D – Magnolia), Sen. Eddie Cheatham (D – Crossett), and Sen. Terry Rice (R – Waldron).
The bill is expected to be heard by the House Revenue and Tax committee on Tuesday morning.
Roll Call of the vote: