Good news on the Arkansas state government economic front.
The state is running nearly a $500 million surplus for the fiscal year that began on July 1.
It gets better. The Department of Finance and Administration said said earlier this month they anticipate the surplus to hit $1 billion by the summer.
Income, sales and corporate tax revenues are all above forecast. It's a position that many other states would love to be in.
Arkansas did well last year, too ending the year with a surplus approaching $1 billion. Gov. Asas Hutchinson and state lawmakers responded with the biggest package of tax cuts -- phased in over the next few years -- in Arkansas history.
Hutchinson announced last week he is considering a special session to use the surplus to cut taxes even more, as well expanding broadband access and strengthening public school facility funding.
That's good news.Everyone likes lower taxes. And schools and broadband expansion worthy investments in Arkansas' future.
What else lawmakers might get up to in a special session is more of a worry. These days, you never know what kind of more politically-motivated mischief they can come up with. Or how it can affect the state's longterm economic climate.
We'll hope for the best, though, should the governor decided to call that special session. And hope our legislators stay focused on the state rather than their re-election prospects.