On Wednesday the Senate Revenue and Tax Committee passed H.B. 1912.
This good bill by Rep. John Payton (R – Wilburn) and Sen. Jason Rapert (R – Conway) reduces the tax on used cars sold for $4,000 – $10,000 from 6.5% to 3.5%.
Family Council has worked on this issue for over a decade.
The used car tax hurts Arkansas’ poor and middle class families. A lot of folks can barely scrape together a few thousand dollars to buy a used car. They can’t afford to pay the state on top of that.
Single moms who need a reliable vehicle shouldn’t be penalized for buying a used car. H.B. 1912 gives families some relief.
This is commonsense legislation will help a lot of families.
The bill now goes to the entire Arkansas Senate for consideration.
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