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VOL. 128 | NO. 68 | Monday, April 08, 2013

Arkansas House Panel Backs Beebe's Grocery Tax Cut

AP

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LITTLE ROCK, Ark. (AP) – Gov. Mike Beebe's proposal to conditionally reduce the state's grocery tax has won approval from an Arkansas House committee.

The House Revenue and Taxation Committee voted on Friday to pass the measure, which would reduce the grocery tax only if the state's desegregation settlement payments or bond obligations decrease by $35 million over a six-month period. If those conditions are met, the grocery tax would be reduced from 1.5 percent to 0.125 percent.

Republican legislative leaders are negotiating over a separate $100 million package of tax cuts, which is expected to include reductions in the state income and capital gains tax. Beebe, a Democrat, has said there isn't room in his budget for additional cuts, but said savings from a proposal to expand healthcare coverage could fund some reductions.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 64 16,477
MORTGAGES 72 72 21,504
FORECLOSURE NOTICES 6 6 4,272
BUILDING PERMITS 0 0 39,378
BANKRUPTCIES 69 69 15,611
BUSINESS LICENSES 13 13 5,504
UTILITY CONNECTIONS 84 84 23,657
MARRIAGE LICENSES 37 37 5,072

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