Audio – Senator Keith Ingram Reporting News From 92nd General Assembly
April 4th, 2019 • News
  • The speed limit on Arkansas interstate highways will go up to 75 miles an hour, beginning July 1, thanks to legislation approved this week by the Senate.
  • The speed limit will stay at 70 miles per hour for commercial vehicles, which are defined in the legislation as any vehicle that transports passengers or products and weighs more than 26,000 pounds.
  • The higher speed limits will not be allowed in urban areas. They will only be allowed on controlled-access, four-lane highways with a median strip in the middle.
  • In other business, a corporate income tax cut is making its way through the legislative process. It lowers the top rate from 6.5 percent to 5.9 percent and it gradually lengthens the carry-forward period for claiming operating losses to 20 years.
  • To make up for some of the lost revenue to the state treasury, the legislation requires Internet retailers to collect sales taxes on products sold to Arkansas customers.
  • Now that we’re in the final days of this year’s session, lawmakers are spending a lot of time writing budgets for state government for next fiscal year.
  • Both chambers have approved a budget of more than $8 billion for the Medicaid program.
  • Another big ticket spending item is the Public School Fund, which will amount to almost $3 billion next year.
  • The Joint Budget Committee is close to approving the final version of the bill.
  • Legislative leaders are finalizing the Revenue Stabilization Act, which is our name for the Arkansas balanced budget law.
  • It limits state spending based on the same principles that govern your household spending, or your family business.
  • When the money is not there, state agencies must reduce their spending levels.
  • It’s a shame that Washington doesn’t operate according to the same fiscal principles.
  •       Click to Listen - Audio Recording from April 4, 2019

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