AR HCR1002

Arkansas General Assembly urges U.S. Congress to permanently extend the Tax Cuts and Jobs Act of 2017, with commensurate spending cuts to avoid increasing federal debt

23 individual income tax provisions from the 2017 law are set to expire after December 31, 2025, including reduced personal income tax rates, the near-doubled standard deduction, and Alternative Minimum Tax reductions

The resolution cites claimed economic benefits: $1.5 trillion net tax cut, $6,000 increase in real median household income over two years, and tax relief for over 100 million American taxpayers

Corporate tax rate was reduced from 35% to 21%, bringing the U.S. to average among OECD nations

The $10,000 annual cap on state and local tax (SALT) deduction would also expire; the resolution argues removing this cap would incentivize states to implement higher taxes