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Thursday, March 01, 2007 

Republican Tax Break Bill Passes Senate

We applaud the Arkansas State Senate for passing Republican Keven Anderson's Tax Break in the House Bill 1443. The Bill would extend to single tax filers with a taxable income of less than $13,500. Married couples filing jointly would be eligible for the credit if they make less than $21,400.

A married couple filing jointly who have two or more dependents get the credit if they make less than $26,700. A single head of household with one or more dependents would qualify if he or she makes less than $19,000.The amount of the credit varies from $416 to $1, depending on the number of dependents and income level. The bill also includes a formula for calculating the credit in future years.

With all the Senate Democrats and their tax and spend history. Its a wonder we have gotten any tax breaks this year. We applaud the legislature and call on them to continue cutting taxes...

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