Arkansas: Gov. Beebe Unsure About Severance Tax Support

Thu, Jan 26 2012 — Source: The City Wire

Gov. Mike Beebe said Wednesday (Jan. 25) he is “re-evaluating” his support for a proposed ballot initiative that would raise Arkansas’ severance tax.
 
Sheffield Nelson, a former natural gas company executive, has received ballot title approval from Arkansas Attorney General Dustin McDaniel for a referendum to raise severance tax on natural gas to 7% and exclude current loopholes. The tax could raise as much as $250 million a year, with the money dedicated for Arkansas highways.

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