income tax

Jason Rosenbaum, St. Louis Beacon.

Every week, St. Louis Public Radio’s Chris McDaniel joins the St. Louis Beacon’s Jo Mannies and Jason Rosenbaum to talk about the week’s politics.

 

via Kristi Luther and Tim Bommel, Mo. House Communications.

The income tax bill that would eventually reduce income tax rates by about a half of a percent is likely to not be brought up in veto session next month, according to Missouri House Speaker Tim Jones (R-Eureka).

Appearing on St. Louis Public Radio's and the St. Louis Beacon's Politically Speaking podcast, Jones said he currently doesn't have the votes necessary for an override of the governor's veto.

Krisi Luther, St. Louis Public Radio.

Credit rating agencies warn that allowing a Missouri income tax bill to become law could have a negative impact on the state's credit rating.

“We believe that if the Missouri legislature overrides the governor’s veto and enacts the legislation, and the federal government passes the Marketplace Fairness Act, it has the potential to result in a significant financial impact to the state, despite requirements for the maintenance of a balanced budget," Standard & Poor's wrote.

Chris McDaniel, St. Louis Public Radio.

Every week, St. Louis Public Radio’s Chris McDaniel joins the St. Louis Beacon’s Jo Mannies and Jason Rosenbaum to talk about the week’s politics.

 

Marshall Griffin, KWMU

If the income tax cut bill becomes law in September, millions will be cut from Missouri's public education system, according to Governor Jay Nixon.

It's a common refrain from the Democrat: "You can either be for public education or for House Bill 253, but you can't be both," he told a crowd of business leaders last week.

This week, Nixon released numbers to back up his claim.

Chris McDaniel, St. Louis Public Radio.

Expect to see a lot of ads leading up to September, paid for largely by one man. Libertarian Rex Sinquefield has given nearly $2.4 million to groups backing a possible cut to Missouri's income tax.

In response, Democratic Governor Jay Nixon has gone on the offensive, attacking the income tax bill and defending his veto.

Speaking in St. Louis to the Regional Chamber, Nixon said it is a "fiscally irresponsible experiment that didn't work in Kansas and won't work here."

Erin Williams, St. Louis Public Radio.

Every week, St. Louis Public Radio’s Chris McDaniel joins the St. Louis Beacon’s Jo Mannies and Jason Rosenbaum to talk about the week’s politics.

Jason Rosenbaum, St. Louis Beacon

Every week, St. Louis Public Radio’s Chris McDaniel joins the St. Louis Beacon’s Jo Mannies and Jason Rosenbaum to talk about the week’s politics.

On this week's episode: Missouri Senator Eric Schmitt (R-Glendale) joins as a guest to have a "free-wheeling and fun conversation" on the income tax bill the governor vetoed. Then we run through some news: the auditor's finding on the Hancock Amendment, as well as the Jefferson-Jackson Dinner.

Next week, Democratic Senator Jamilah Nasheed will join the program.

StockMonkeys.com | Flickr

Governor Jay Nixon vetoed legislation Wednesday that would have cut Missouri’s income tax rates for the first time in 90 years.

The Republican-led General Assembly passed the bill in large part pointing to neighboring Kansas which already has slashed its personal and corporate income taxes.

But as St. Louis Public Radio’s Maria Altman reports, the Democratic governor says the cuts would hurt Missouri education and other state services.

A 'Fiscally Irresponsible Experiment'

Marshall Griffin, KWMU

Updated 5:02 p.m. May 31

Newly released emails show that Gov. Jay Nixon's administration and legislative bill drafters each had a role in crafting an apparently inadvertent tax increase on prescription medications.

The prescription tax hike is included in a bill passed by the Legislature that cuts the state's income tax. Nixon has indicated he may veto the bill.

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