The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Arkansas, 42 percent of the federal tax cuts would go to the richest 5 percent of residents, and 9 percent of households would face a tax increase, once the bill is fully implemented.
Arkansas
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November 14, 2017 How the Revised Senate Tax Bill Would Affect Arkansas Residents’ Federal Taxes
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November 6, 2017 How the House Tax Proposal Would Affect Arkansas Residents’ Federal Taxes
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time. Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate tax, become more generous over time. The result is that by 2027, the benefits of the House bill become increasingly generous for the richest one percent compared to other income groups.
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blog October 13, 2017 State Rundown 10/13: Soda Taxes, Business Subsidies, and Gas Taxes Considered in Several States
A comprehensive tax study is underway in Arkansas this week as other states hone in on more specific issues. Soda taxes hit setbacks in Illinois and Michigan, business tax subsidies faced scrutiny in Iowa and Missouri, and gas tax update efforts are underway in Mississippi and North Dakota.
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October 4, 2017 GOP-Trump Tax Framework Would Provide Richest One Percent in Arkansas with 58.8 Percent of the State’s Tax Cuts
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in Arkansas equally. The richest one percent of Arkansas residents would receive 58.8 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $490,000 next year. The framework would provide them an average tax cut of $51,370 in 2018, which would increase their income by an average of 3.8 percent.
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ITEP Work in Action September 5, 2017 Arkansas Advocates for Children and Families: The Trump Tax Plan: What Would It Mean for Arkansas?
Who benefits and who loses under the Trump tax plan? An analysis by the Institute on Taxation and Economic Policy (ITEP) estimates that Arkansas would fare worse under the plan compared to other states. Relative to our share of the U.S. population, we would be one of the 12 states receiving the lowest share of the total Trump tax cut.
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August 17, 2017 In Arkansas 40.0 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Arkansas population (0.3 percent) earns more than $1 million annually. But this elite group would receive 40.0 percent of the tax cuts that go to Arkansas residents under the tax proposals from the Trump administration. A much larger group, 53.2 percent of the state, earns less than $45,000, but would receive just 7.1 percent of the tax cuts.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Arkansas with 49.5 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Arkansas would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,340,600 in 2018. They would receive 49.5 percent of the tax cuts that go to Arkansas’s residents and would enjoy an average cut of $80,800 in 2018 alone.
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ITEP Work in Action January 25, 2017 Gov. Hutchinson’s low-income tax plan: A good start, but needs work
Governor Asa Hutchinson’s new tax cut proposal includes a break, at long last, for some of the lowest income working families in our state. The bones of this plan are… -
ITEP Work in Action January 25, 2017 Statement on Governor Hutchinson’s Low-Income Tax Plan
The following is a statement from Rich Huddleston, executive director of Arkansas Advocates for Children and Families: Read more here -
ITEP Work in Action January 11, 2017 Akransas Advocates for Children & Families: 6 ways to make 2017 more prosperous for all Arkansans
Legislators have just kicked off the 2017 legislative session, and ideas for big changes are buzzing around the Capitol. AACF will be on the ground advocating for bills that are… -
ITEP Work in Action January 9, 2017 Arkansas Advocates for Children and Families: Problems down the road with governor’s highway plan
“The governor wants to get through the first year by spending down some of the rainy day fund and using part of reamining surplus funds. As far as short term… -
ITEP Work in Action February 2, 2015 Arkansas Advocates for Children and Families: Changing how we tax capital gains
A relatively small number of wealthy Arkansans who make money from the sale of investments reaped the benefits from the capital gains tax cuts passed in 2013. These expensive tax… -
ITEP Work in Action February 2, 2015 Arkansas Advocates for Children and Families: Governor’s tax plan leaves out poorest Arkansans
The governor’s new tax cut plan is a step in the right direction for tax fairness, but leaves out the poorest 20 percent of Arkansans and raises concerns about how… -
ITEP Work in Action January 16, 2015 Arkansas Advocates for Children and Families: Arkansas ranks 11th in tax burden on poor
Arkansas ranks eleventh in the nation when it comes to taxing the poor. The poorest Arkansans, those making under $9,600 per year, pay two times more in taxes as a… -
media mention January 16, 2015 Arkansas Times: The poor hit harder by local taxes; bottom 40 percent left out in Asa tax cut
You can go to the Institute on Taxation and Economic Policy for Arkansas-specific information. Arkansas does not make the “terrible ten” most regressive states, where the bottom 20 percent pay… -
media mention January 16, 2015 KNWA: Arkansas Receives Negative Mark On Taxing Residents
“A new study released today by the Institute on Taxation and Economic Policy (ITEP) puts Arkansas among the most unfair tax systems in the country. According to the study, Arkansas’s… -
media mention January 16, 2015 Arkansas Matters: AR Ranks 11th Nationally for Tax Burden on Poor
“Arkansas ranks eleventh in the nation when it comes to taxing the poor. The poorest Arkansans, those making under $9,600 per year, pay two times more in taxes as a… -
media mention January 15, 2015 Ozark’s First: Arkansas Receives Negative Mark On Taxing Residents
“A new study released today by the Institute on Taxation and Economic Policy (ITEP) puts Arkansas among the most unfair tax systems in the country. According to the study, Arkansas’s… -
media mention August 20, 2014 The Motley Fool: The 5 States with the Highest Sales Tax
By Jeremy Bowman: Nearly every state in the union charges a sales tax, and the tax levied on goods and services sold at the retail level is just one of… -
ITEP Work in Action October 22, 2013 Arkansas Advocates for Children and Families: Arkansas tax system should do more for working families
According to a new report from Arkansas Advocates for Children and Families (AACF), tax changes passed during the 2013 session consisted largely of personal income tax cuts benefiting upper-income taxpayers… -
media mention July 12, 2013 Public News Service: Supporters say Immigration Reform Would Boost Ark. Economy & Tax Revenue
(Original Post) LITTLE ROCK, Ark. – Supporters of immigration reform say it would not only help the Arkansas economy, it would also bring in millions more in state and local… -
media mention July 11, 2013 UALR: Immigration Reform Could Boost Arkansas Revenues
(Original Post) By MALCOLM GLOVER A recent analysis by a liberal-leaning think tank estimates that undocumented immigrants pay $72.4 million a year in state and local taxes in Arkansas. Supporters… -
media mention July 10, 2013 Arkansas Times: Immigration reform would be good for the economy
Original Post July 10, 2013by Max Brantley Arkansas Advocates for Children and Families cites the benefits of immigration reform that would legalize more of the people already at work and… -
media mention April 2, 2013 Arkansas Times Record: Arkansas Legislature: Bill To Cut State Income Tax Advances
(Original Post) 2:07 pm – March 26, 2013 — Updated: 12:14 am – March 27, 2013 By John Lyon Arkansas News Bureau [email protected] LITTLE ROCK — A proposed $57 million… -
ITEP Work in Action March 27, 2013 Arkansas Advocates for Children and Families: Benefits of HB 1585 go mostly to wealthy
According to an analysis by the Institute on Taxation and Economic Policy (ITEP), House Bill 1585 would target personal income tax relief to Arkansas taxpayers who make over $155,000 per…