House tax panel chair clarifies highway funding streams, 'dark money' bill likely
LITTLE ROCK —
(TALK BUSINESS & POLITICS) A key House Republican and a Democratic Senate leader both expect a highway funding plan to come out of the current legislative session, but its multiple components are still fluid.
Rep. Joe Jett, R-Success, chairman of the House Revenue & Tax Committee, said that a consensus highway funding program will be crucial to Gov. Asa Hutchinson’s hopes for a $97 million tax cut effort to bring the state’s top rate down from 6.9% to 5.9%.
“I think there’s a 99% chance that we’re gonna get something done,” said Jett, who appeared on this week’s edition of Talk Business & Politics with State Senate Minority Leader Keith Ingram, D-West Memphis.
“I think there is a growing will to do it. Rep. Jett and I have discussed, and you can see in the income tax [debate], how the transportation plan has come into play. Again, what I hear from people at home is not that a $12 tax cut is a major issue but the roads are,” said Ingram in reference to a $12 tax break that will benefit those making $50,000 under the governor’s tax cut plan.
While estimates for highway funding have ranged from a $200 million plan to a $500 million plan, Jett said he thinks the package the governor may announce on Monday will be in the $300 million range.
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