taxes

Treasury Secretary Janet Yellen gives a speech on the economy at Fords Rouge Electric Vehicle Center on September 8, 2022 in Dearborn, Michigan.

U.S. to hit debt limit much sooner than expected, thrusting Congress into showdown

BY: - January 13, 2023

WASHINGTON — The U.S. government will hit its borrowing limit next week, forcing the new, divided Congress into negotiations over the debt limit much sooner than expected, though a potential date for the nation to default isn’t expected until this summer. Treasury Secretary Janet Yellen wrote to Congress on Friday afternoon, telling leaders the United […]

Sarah Huckabee Sanders sworn in as Arkansas’ first female governor

BY: and - January 10, 2023

This was updated at 5:55 p.m. on Jan. 10, 2023. Sarah Huckabee Sanders in her first speeches as Arkansas’ 47th governor described herself as part of a new generation of Republicans eager to limit the role of government. With her swearing in by the state’s chief justice, Sanders became the first female governor of Arkansas, […]

Arkansas state senators take the oath of office Monday afternoon at the state Capitol as they and their counterparts in the House of Representatives start the 94th General Assembly. (Photo by Tess Vrbin/Arkansas Advocate)

El Dorado’s Shepherd elected Arkansas House Speaker for third time

BY: and - January 9, 2023

The Arkansas House gaveled into the 2023 legislative session on Monday with the swearing in of its members and the election of House Speaker Matthew Shepherd (R-El Dorado).  Shepherd’s election to a third term means he will be the longest serving House speaker in state history. Only one member, Hope Hendren Duke (R-Gravette) voted against […]

Arkansas Gov. Asa Hutchinson (left) and Sen. Jonathan Dismang (R-Beebe) talk before Hutchinson presents his fiscal year 2024 state budget at the Nov. 10, 2022, meeting of the Legislature's Joint Budget Committee. (Photo courtesy of Gov. Asa Hutchinson)

Economists predict ‘mild recession’ as Arkansas gears up for 2023 legislative session

BY: - January 2, 2023

A mild recession and a holiday spending hangover. That’s what economic forecasters predict for 2023 as lawmakers head to the state Capitol in January.   Rising interest rates and persistent inflation will push the economy into a downturn, experts say, and those economic clouds could also cause the 94th General Assembly to consider any robust spending programs […]

COMMENTARY
Former President Donald Trump announced on Nov. 15, 2022, that he was seeking another term in office and officially launched his 2024 presidential campaign. (Joe Raedle/Getty Images)

Is Donald Trump’s tax avoidance ethical or honorable?

BY: - December 23, 2022

  The tax records of Donald Trump, details of which were released on Dec. 21, 2022, show the former president used the same aggressive measures to avoid paying high taxes while in office as he did during his business career. Indeed, he paid zero tax in 2020 – the last full year of his presidency […]

A diverse group of protestors hold signs calling for the cancellation of school loan debt

Arkansas officials: No determination yet on tax liability for student loan forgiveness

BY: - August 29, 2022

Arkansas tax authorities haven’t yet decided whether borrowers must pay state income tax on canceled debt under President Joe Biden’s student loan forgiveness plan. Discharged debt is typically taxable as income. However, under the American Rescue Plan Act, student loan forgiveness between 2021 and 2025 is not subject to federal taxes.  Arkansas is one of […]

Arkansas income tax rate changes explained

BY: - August 16, 2022

The Arkansas General Assembly last week convened in special session primarily to enact tax relief.  The law, which easily passed the House and Senate, was billed by proponents as relief for taxpayers in a time of high inflation. Several also referenced the $1.6 billion surplus the state ended with in fiscal 2022. Opponents argued that […]