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Arkansas lawmakers give initial OK to massive tax cut plan

The plan includes cutting the state's top income tax rate from 5.9% to 4.9%.

LITTLE ROCK, Ark. — Editor's Note: The video attached discusses the special session before lawmakers voted on tax cut packages. 

Arkansas lawmakers have given initial approval to the largest tax cut in the state's history.  

The Senate and House on Wednesday approved identical versions of the tax cut package, which will cost nearly $500 million when fully implemented in 2026.  

Republican Gov. Asa Hutchinson called a special session this week to take up the plan, which includes cutting the state's top income tax rate from 5.9% to 4.9% in 2025. 

Legislative leaders hope to wrap up the session without taking up a Texas-style abortion ban or other items some GOP lawmakers want to add to the agenda. 

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