UPDATE: Ark. panel backs revised spending cap bill
LITTLE ROCK, Ark. (AP) - A House panel has endorsed a revised proposal to place a cap on the growth of Arkansas' government after the lawmaker behind the idea changed the way the limit would be calculated.
The House Revenue and Taxation Committee on Tuesday endorsed Republican Rep. Bruce Westerman's proposal. The legislation would limit the growth of state government based on a formula tied to a 5-year average of the state's personal disposable income.
Gov. Mike Beebe has opposed the bill, saying it would "wreak havoc" on the state's budget.
The panel approved an initial version of Westerman's bill but it was sent back to committee after he made other changes. The bill now heads to the House floor for a vote.
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