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Texarkana Chamber of Commerce ‘Second Friday’ – Legislative Update November 10, 2006

Texarkana Chamber of Commerce ‘Second Friday’ – Legislative Update November 10, 2006. Arkansas Budget. Richard Weiss: Director of Arkansas Department of Finance and Administration November 9, 2006 $843 Million Revenue Surplus. Arkansas Budget, Cont’d.

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Texarkana Chamber of Commerce ‘Second Friday’ – Legislative Update November 10, 2006

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  1. Texarkana Chamber of Commerce‘Second Friday’ – Legislative UpdateNovember 10, 2006

  2. Arkansas Budget Richard Weiss: Director of Arkansas Department of Finance and Administration November 9, 2006 $843 Million Revenue Surplus

  3. Arkansas Budget, Cont’d. ● Revenue Surplus: How much is one-time money vs. continuing increase? (corporate income tax) ● Spending: One-time expenses (school facilities) vs. permanent tax relief; need for a rainy day fund ●Tax Relief Package ●Balanced Budget ●Sales Tax on Groceries ($224MM annually) ● Exemption on sales tax on energy for manufacturers

  4. Arkansas Development Report Card, 2006 Strengths (Top 10 Rank) RankMeasure 1 Change in Uninsured Low Income Children 1 Five Year Change in New Companies 4 Mass Layoffs 7 Change in Health Professional Shortage Areas 7 Employment Growth: Short Term 8 Recycling Rate 8 Loans to Small Businesses 9 Business Closings 10 Energy Costs

  5. Arkansas Report Card, Cont’d. Weaknesses (Bottom 10 Rank) RankMeasure 40 Per Capita Energy Consumption 41 Voting Rate 41 Highway Performance 41 Infant Mortality 42 Venture Capital Investments 43 Heart Disease 43 Private Research and Development 44 High School Attainment 45 Average Annual Pay

  6. Arkansas Report Card, Cont’d. Weaknesses, Cont’d. (Bottom 10 Rank) RankMeasure 46 Teen Pregnancy 46 Urban Mass Transit 47 Academic Research and Development 47 PhD Scientists and Engineers 49 College Attainment 49 Graduate Students in Science and Engineering 49 Households with Computers 50 Poverty Rate

  7. Arkansas Report Card, Cont’d. Chicken and Egg Problem ●Increasing Educational Attainment and Improving Competitiveness of Education at all Levels ●Number of High-Value/High-Wage Jobs

  8. My Personal Legislative Goals • Protecting and Promoting Texarkana • Tax Relief/Incentives for Econ. Development • Higher Ed • Educational Funding in Public Schools • Overhaul of District Court System

  9. New Makeup of the House • 75 Democrats, 25 Republicans • Effect of Term Limits • Looking ahead to 2007 • Convene 1/8/07 • Drawing Committee Assignments Today

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