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8 Years of Tax Cuts; Latest Proposal from AR Gubernatorial Candidate

NORTH LITTLE ROCK, AR-- With less than two months until the primary, candidates are kicking their campaigns into high gear.
NORTH LITTLE ROCK, AR-- With less than two months until the primary, candidates are kicking their campaigns into high gear. On Wednesday, conservative gubernatorial candidate Curtis Coleman presented a tax cut proposal suggesting eight consecutive years of state income-tax cuts for Arkansas tax payers. It's part of his "Let Arkansas Prosper" campaign, that also includes breaks for veterans and small businesses. "Lets make reducing the tax burden on Arkansas taxpayers our number one objective," says Coleman. "Let's do that first, let's put everything in order behind that objective." Coleman says he'd like a $65 million dollar cut for state income tax by 2016, paid for through a more efficient state government and a more profitable private sector. Coleman's opponent, Asa Hutchinson, has also proposed tax-cuts targeted at reducing the amount many Arkansans would pay in state income tax.

Read the news release from Coleman's camp below:

NORTH LITTLE ROCK, AR (News release) - Businessman and conservative Republican candidate for governor Curtis Coleman proposed today eight consecutive years of state income tax cuts for Arkansas taxpayers.

Coleman announced his tax and regulatory proposals, "Let Arkansas Prosper," at his campaign headquarters in North Little Rock.

Coleman's plan also calls for the elimination of corporate taxes on Arkansas' "Mom and Pop" businesses, small businesses with net taxable incomes of less than $1 million.

Coleman said the State needs to draw even with neighboring states by exempting all military retiree pay from state income taxes. "And it's simply the right thing to do," Coleman said. In his plan to reduce the number of Arkansans living in poverty, Coleman calls for all Arkansas' counties with a median household income of less than the state average of about $40,100 to be designated tax-free enterprise zones. New businesses that don't compete with existing businesses in these zones can locate in these designated counties and operate with no corporate tax payments for their first 10 years.

"I have no doubt we can do this," Coleman said. "Arkansas has the capacities and resources to be one of the most prosperous states in the country. The adjustments we need to make are not radical or extreme. My proposals just give us an opportunity to successfully compete with other states for better paying jobs and more opportunities to be the successful people we can be."

Coleman was the founding CEO and President of Safe Foods Corporation, an international food safety company headquartered in North Little Rock. While CEO of Safe Foods Corp., he frequently lectured on team building and servant leadership for the University of Arkansas’ Sam M. Walton School of Business Emerging Leaders program. In 2010, he founded The Institute for Constitutional Policy.
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