Despite smaller than expected revenues from sales tax and individual income tax, December revenues came in above forecast. Higher than expected corporate income tax collections and lower tax refund payments contributed to the increase in revenues. Net general revenue...
Larger surpluses mean a smaller pool of money for major programs like pre-K and often end up benefiting “pet projects.” Surplus spending is harder to track and is not subject to the same scrutiny as other “normal” budget spending....
General revenues for last month and for the year as a whole came in above expectations. Total net general revenue for November was $391.1 million, up 11.8 percent (or $41.4 million) from last year and about seven percent above...
Thinking about taxes seems complicated; but in its basic form, taxes raise the money we need to pay for and upkeep the services we depend upon daily. On the state level, we use these dollars to fund our schools,...
Governor Beebe introduced two separate budget proposals this month, depending on whether legislators choose to put off nearly $30 million in tax cuts for two years. The tax cuts, if implemented, would reduce taxes for manufacturers and many wealthy...
A statement from AACF Executive Director Rich Huddleston on last night’s elections in Arkansas: Arkansas Advocates for Children and Families would like to congratulate all of the Arkansas candidates on their victories last night. Now that the elections are...
Arkansas took in more tax revenue than expected last month. October general revenues came in over 8 percent (or $30 million) higher than last year, and 4.7 percent (or $18.2 million) above forecast. Two categories accounted for most of...
A COLA is more than a tasty soft drink. In policymaking and economics, COLA stands for “cost of living adjustment.” Prices of goods (like groceries, rent, healthcare, transportation, electricity, etc.) and services (like haircuts, teaching, legal services, car maintenance,...
August net available general revenues are up slightly from last year and beat expectations by $12.3 million (or 3.2 percent) according to today’s report from the Arkansas Department of Finance and Administration. An unanticipated boost in all major revenue...
An ideal tax system is one that is fair and provides enough revenue for state programs that we all benefit from without being overly complicated. Some people advocate for a flat tax as a way to reform or simplify...