The Senate today fell two votes short of passage of Gov. Asa Hutchinson's income tax cut for the rich after first turning down an unsuccessful effort by Democratic Sen. Will Bond to limit the cut provided the very richest Arkansans.
The windfall income tax cut for the wealthy — a 14 percent cut in the top marginal tax rate in two years that will give 70 percent of the benefits to the top 1 percent of taxpayers — zipped out of Senate committee today.
Gov. Asa Hutchinson pitched his revised income tax cut for the wealthy udring his radio message this week and the spin demands some additional information. Call it another chapter in the book: Lies, Damn Lies and Statistics.