Arkansas’ budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $2.9 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $6.4 billion too much.
  • The 2023 the all funds budget is $7.3 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $27.2 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $23.14
  • FY 2025 Only State Funds Budget Limit ($ Billions): $24.52
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.95%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $935
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $3,738
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $2,079
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $8,318

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $72.93
  • FY 2025 All Funds Budget Limit ($ Billions): $77.26
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 5.95%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $2,371
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $9,485
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $8,868
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $35,471

Other Considerations