Arkansas lawmakers one step closer to passing a balanced budget
LITTLE ROCK (KATV) — Arkansas lawmakers are just one day away from passing the state's $5.8 billion budget.
Due to projected forecasts and a loss in revenue, they were tasked with cutting $205 million from the budget.
The Arkansas Senate and House gathered and passed batches of budget bills while still practicing social distancing. The Senate members met in the Senate chambers and House members met at Jack Stephens Center at UA-Little Rock.
House Speaker, Matthew Shepherd, (R-El Dorado) told KATV most agencies will see a 5 percent cut, other than the Arkansas Department of Human Services, Department of Education and Department of Correction.
“While we are facing difficult economic times, as well as difficult times on a public health front, the good news is, is that we are maintaining a balanced budget, that we are able to prioritize funding with regards to education, and DHS and other needed services,” said Shepherd.
Shepherd added, while they had to make cuts the state will receive $1.25 billion in federal dollars due to COVID-19 whether those dollars help alleviate the state budget cuts, that's to be determined.
“That’s being looked at to the extent the cuts relate to the virus, I’m sure that's something the governor, as well as the legislature, will be looking at to try and make sure that we stretch our dollars as far as possible, so that's something that will undoubtedly be looked at."
Lawmakers also set aside $60 million, as part of the Restricted Reserve Fund, money that could be accessed later during the fiscal year if needed.
Lawmakers meet again Thursday – both chambers will vote on each other’s batch of budget bills, ultimately passing the state’s budget.
