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Arkansas’ Economic Outlook Ranked Positive by S&P Global Ratings

 June 06, 2024

Arkansas has a thriving economy, and the economic outlook in the Natural State is promising.

S&P Global Ratings recently upgraded its economic outlook for Arkansas to “Positive.” Previously, Arkansas had a “Stable” economic outlook, according to S&P Global Ratings.

Arkansas is one of only six states to receive a “Positive” economic outlook rating from S&P Global Ratings.

The outlook revision from S&P Global Ratings was based on “Arkansas' demonstrated budget management practices and financial resiliency across economic cycles, which has yielded steady operating surpluses and an accumulation of substantial reserves,” according to S&P Global Ratings credit analyst Rob Marker.

Under the leadership of Governor Sarah Huckabee Sanders, the Arkansas General Assembly has passed two tax cuts since 2023, lowering the state’s top individual income tax rate from 4.9% to 4.4% and lowering the corporate tax rate from 5.3% to 4.8%. Arkansas has also implemented tax cuts in every legislative session since 2015.

S&P Global Ratings reaffirmed its “AA” long-term rating on the state’s general obligation bonds. 

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