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.
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.
Missouri Governor Jay Nixon's record number of vetoes this year is expected to set up a very busy and hard-fought veto session this September.
According to the Associated Press, the Democratic Governor struck down 29 of the 145 non-budgetary bills sent to him by the Republican-dominated House and Senate. Dave Robertson is a political science professor at the University of Missouri – St. Louis.