Little Rock, Arkansas – After Arkansas concluded the fiscal year with a close-to-record surplus, Governor Sarah Huckabee Sanders indicated on Tuesday that she has not ruled out holding a special legislative session to discuss tax cuts.
The Republican governor stated in a speech to the Little Rock Rotary Club that the state would have the chance to substantially reduce income taxes “over the coming months.” Sanders clarified that it might also refer to a special session held before or during the upcoming fiscal legislative term, which begins in April.
After her speech, Sanders told reporters, “We’ll work with our allies and our friends in the Legislature to make that judgment whether we do anything sooner or do something during the budget session.
When asked if a special session was a possibility, Sanders responded, “I never like taking anything off the table.”
Finance officials in Arkansas reported earlier this month that the state had its second-largest surplus at the end of its fiscal year, which ended on June 30.
Sanders stated that she also intends to make more investments in education with the excess, though she did not specify how much.
The governor signed legislation in April that lowers corporate and individual income taxes by $124 million annually.