I support giving real significant tax relief to Arkansans, not the token $10 per year the GOP has been touting.
Arkansas has the second highest state and local sales tax rate in the US. Worse than New York or California. That’s inexcusable. I propose that we lower the state sales tax rate from 6.5% to a more reasonable 5%. That’s small but real and noticeable savings on utility bills, clothing, school supplies, etc…, nearly everything we purchase. Furthermore I would also propose we remove the local sales tax on food, diapers, and feminine hygiene products; a savings for Arkansas families that would be considerably greater than the minuscule 1/8th of a percent cut on food passed last year.
The national standard deduction for income taxes is $15,750. In Arkansas the standard deduction is only $2,470. I propose that we increase the state standard deduction for each filer and dependent to the same $15,750 used for federal tax filers. This would be a substantial savings for working class families in Arkansas, and would require a very minimal change to the tax code.