Gubernatorial Candidate Mike Ross Announces Tax Cut Plan

Photos courtesy of Asa Hutchinson (left) and Mike Ross (right).

Photos courtesy of Asa Hutchinson (left) and Mike Ross (right).

Mike Ross, candidate for governor of Arkansas, announced a proposal today to cut the state’s income tax for nearly every working family in Arkansas, including some small businesses.

He called the current income tax code, “out-of-date and unfair,” for the average working family.

When fully utilized, the proposal would cut income taxes by as much as $665 for the average working family in The Natural State, according to Ross.

“When a single mom in Arkansas making $34,000 a year is paying the same income tax rate as someone making $340,000 a year, there is something unfair and morally wrong about our tax code,” said Ross.

Ross continued, “I want to modernize our income tax code in a way that means lower, fairer taxes for working families and small businesses in Arkansas, and I want to do so in a fiscally responsible way that maintains our balanced budget and protects vital state services like education, Medicaid and public safety.  Just like Governor Beebe did with the sales tax on groceries, I will also gradually phase in my tax cut plan as the state can afford to do so.”

After Ross’ plan was outlined, gubernatorial candidate Asa Hutchinson released his own reaction statement.

“I’m glad longtime Democratic Congressman Mike Ross finally recognizes the need for tax relief in Arkansas. Unfortunately his plan is just not serious. It has no specifics or time-frame for action. . .,” Hutchinson said.

Hutchinson countered by saying his plan focuses on competitive tax rates in Arkansas for job creation, whereas Ross’ plan is not a long-term solution for economic growth.

The election for Arkansas governor is set for Nov. 4, 2014.

Tax brackets released by Ross.

Tax brackets released by Ross.

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