By Caleb Taylor
Is it time to reduce Arkansas’s income taxes?
Nicole Kaeding, Arkansas: The Road Map To Tax Reform co-author and Director of Special Projects for the Tax Foundation, will speak to members of the Arkansas Legislative Tax Reform and Relief Task Force about reforming Arkansas’s income taxes on Thursday, April 26th.
Arkansas: The Road Map To Tax Reform examines Arkansas’s current tax system and makes concrete recommendations about how to make the state’s tax code fairer and more competitive. Other co-authors include ACRE Scholar and UCA Assistant Professor of Economics Dr. Jeremy Horpedahl, as well as Scott Drenkard, Joseph Bishop-Henchman and Jared Walczak of the Tax Foundation.
You can read a one-page infographic of their work on income taxes here.
In their book, the authors suggest lowering the top income tax rate of 6.9 percent and consolidating the number of rate schedules from three to one. Revenue losses to the government would be offset by closing sales tax, income tax and corporate tax exemptions.
Lisa Christensen Gee, a Senior Policy Analyst at the Institute on Taxation and Economic Policy, will also address the task force regarding sales tax reform on Monday.
Kaeding and Gee discussed sales tax reform at the task force’s meeting on March 19th.
You can find out more information about ACRE’s research on taxation here.