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Old 04-02-2009, 04:02 PM
 
Location: Chicago, IL
8,998 posts, read 12,766,502 times
Reputation: 3536

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There was a proposal introduced today to cut the capital gains tax in AR in order to spur economic growth.
Do you feel this will help bring new jobs to the state?

Quote:
Panel OKs $42M Break in Capital Gains Tax

A House committee has approved an exemption of income tax on all capital gains on Arkansas property, a measure expected to cost the state more than $42 million.

But bill sponsor Rep. Ed Garner of Maumelle says the figure doesn't include the economic boost from companies that relocate in Arkansas and reinvest hundreds of millions in the state.

The House Revenue and Taxation Committee approved Garner's bill Thursday and sent it on the full House. But because of a procedural error, Garner needs a two-thirds vote to get the bill out of the House and on to the Senate.

Garner's bill affects both individuals and corporations that earn capital gains on Arkansas property and investments in Arkansas-based companies.
Today at the Capitol|Channel 7 News (http://www.katv.com/news/stories/0409/609667.html - broken link)

Normally I don't EVER agree with Garner but in this case he has my support.
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