By Jeremy Horpedahl, ACRE Director and UCA Associate Professor of Economics The Arkansas General Assembly has informally adjourned, meaning that the time to pass new bills is over. They will reconvene in May to formally wrap up the session, but the major action is now concluded. Prior to the session, ACRE put together a Top […]
Spending
A Taxpayer Bill of Rights in Arkansas?
By Jeremy Horpedahl, ACRE Director and UCA Associate Professor of Economics Every session the Arkansas legislature considers many major and minor changes to both tax and budget policy. But it’s much rarer to see proposals to dramatically reform the entire fiscal process in Arkansas. As state legislators have begun to debate potential constitutional amendments to […]
ACRE’s Mid-Session Legislative Update
By Dr. Jeremy Horpedahl, ACRE Director and UCA Associate Professor of Economics The Arkansas General Assembly has now completed 7 weeks of its 2023 Regular Session. While there is still a lot more work to be done this year, we’ve already seen some major developments, and at ACRE we are closely watching several pieces of […]
Recent Tax Cuts in Arkansas Haven’t Cut Into the State Budget
By Jeremy Horpedahl, ACRE Director Beginning in 2015, Arkansas has been making gradual reductions in both personal and corporate income tax rates. The cumulative personal income tax reductions could be saving middle-income families in Arkansas $2,000-$5,000 every year, as an analysis by ACRE Policy Analyst Joseph Johns shows. Not only has the top income tax […]
What Should Arkansas Do With Its Budget Surplus? Better Budget Rules Are Needed in the Future
by Joseph Johns Arkansas recently reported the highest budget surplus in state history, a record-setting $1.628 billion as of June 30, 2022. While this is good news in some respects, the true history of state surpluses reveals a disturbing trend that needs to be addressed. Arkansas has run a surplus for 22 of the past […]
Mitchell, Smith Discuss Taxes and LTRF on Dave Elswick Show
By Caleb Taylor What’s the latest news on taxes and spending policies in Arkansas? ACRE Director and UCA Associate Professor of Economics Dr. David Mitchell and ACRE Legislative Research Associate Dr. Nathan Smith joined the Dave Elswick Show on 101.1 FM in Little Rock to answer this and more on Monday, April 26th. Smith recommended […]
Economist Examines New Arkansas Budget Plans
By Caleb Taylor Gov. Asa Hutchinson proposed biennial budget released last Tuesday contains an early Christmas present for new Arkansans, but does it make larger reforms more difficult? Hutchinson announced on Nov. 10 that he’d like to cut the top individual income tax rate to 4.9 percent for new residents of the Natural State. He […]
How to Prepare Arkansas for the Next Recession
By Caleb Taylor Arkansas’s small businesses are still feeling the effects of the economic downturn from COVID-19, ACRE Director and UCA Associate Professor of Economics Dr. David Mitchell said in a speech to about 25 Conway Kiwanis Club members at Larry’s Pizza on Wednesday, Nov. 4. Mitchell said the Natural State could be better prepared […]
How to Minimize Corruption in Pandemic-Related Programs
By Caleb Taylor How can corruption be minimized in pandemic-related government programs? Incentivize whistleblowers and improve online transparency. Programs such as the Paycheck Protection Program (PPP) or the Ready for Business Grant Program need greater scrutiny, according to ACRE Policy Analyst Dr. Mavuto Kalulu in “Be vigilant,” an op-ed published in the Arkansas Democrat-Gazette on […]
Reserve Fund Balances & Rules Shape State Preparedness for Crisis
By Caleb Taylor What’s one tool states can use to weather financial downturns? David Mitchell and Dean Stansel have been studying state fiscal crises for more than a decade. As state finances falter from COVID-19’s impact, Mitchell and Stansel draw on their research in a recent opinion article in RealClearPolicy to show how long term […]