Arkansas' general revenue charted

Arkansas' general revenue in May hit $596.5 million, up nearly 2% from $585.8 million in May 2023.

• The numbers come from the state Department of Finance and Administration (DFA).

Why it matters: The money pays for state government, infrastructure, education, public assistance, corrections and Medicaid.

By the numbers: The state's gross general revenue for the first 11 months was $7.81 billion, down a little more than 1% from a year earlier.

The big picture : On Wednesday, lawmakers voted to lower Arkansas' top individual income tax rate from 4.4% to 3.9%, and the top corporate rate from 4.8% to 4.3%, retroactive to Jan. 1 of this year.

• Gov. Sarah Huckabee Sanders signed the bills Wednesday afternoon.
• The reductions will mean less revenue for the state in the future, cutting it by $483.5 million in fiscal 2025 and $322.2 million for each fiscal year thereafter.