Ross also proposed a major overhaul of the state’s personal income tax structure and said the plan would have to be phased in over time as allowed by the state’s finances. The total price tag of the restructuring would cost an estimated $574.5 million, according to the Arkansas Department of Finance and Administration. Ross said his tax cut plan, when fully implemented, would cut income taxes by as much as $465 for incomes at $30,000; $665 at $40,000; $880 at $50,000; and, $1,148 at $75,000 and up. He proposed mimicking Gov. Mike Beebe’s phase-out of the sales tax on groceries as his blueprint for restructuring the tax code. Ross said, “I want to modernize our income tax code in a way that means lower, fairer taxes for working families and small businesses in Arkansas, and I want to do so in a fiscally responsible way that maintains our balanced budget and protects vital state services like education, Medicaid and public safety,” Ross said. “Just like Governor Beebe did with the sales tax on groceries, I will also gradually phase in my tax cut plan as the state can afford to do so.” The crux of Ross’ plan would be to retroactively index Arkansas income tax brackets taking a 1997 state law and applying it to the 1971 realignment of the tax code. Act 328 of 1997 tied state income tax brackets to inflation on a forward-going basis.