Tax Cuts | St. Louis Public Radio

Tax Cuts

Missouri Capitol
Marshall Griffin | St. Louis Public Radio

(Updated Friday, May 18, to reflect change in corporate tax rate)

The Missouri General Assembly has approved significant cuts in income-tax rates for individuals and is expected to do the same for businesses before it adjourns Friday.

But the exact impact on the state’s finances is not quite clear.

State Rep. Elijah Haahr, a Republican from Springfield, is chief sponsor of the bill that drops the individual income-tax rate from 5.9 percent to 5.1 percent over several years. The first rate cut goes into effect next year.

vinwim | Flickr

With four weeks left in the legislative session, Missouri lawmakers are running out of time to pass bills while keeping an eye on the legal battles involving Gov. Eric Greitens.

Sen. Bill Eigel, R-Weldon Spring
Jason Rosenbaum I St. Louis Public Radio

On the latest edition of Politically Speaking, St. Louis Public Radio’s Jason Rosenbaum and Jo Mannies welcome Sen. Bill Eigel back to the program.

The Weldon Spring Republican represents a portion of St. Charles County in the Missouri Senate. He was elected in 2016 after a hotly contested GOP primary, and a fairly easy general election victory.

Marshall Griffin | St. Louis Public Radio

A proposal to overhaul Missouri’s tax code is awaiting another vote in the Missouri Senate.

The bill approved on Wednesday would cut state income taxes to 5.25 percent for both individuals and corporations, starting next year. The state income tax rate is currently 5.9 percent for individuals and 6.25 percent for corporations.

Tim Bommel | Missouri House Communications

The latest proposal to cut taxes in Missouri is in the hands of a state House committee.

The measure would reduce the top state income tax rate on individuals and corporations to 5 percent. It’s currently at 5.9 percent for individuals and 6.25 percent for corporations. The bill is sponsored by House Speaker Pro-tem Elijah Haahr, R-Springfield.

Missouri Gov. Eric Greitens speaks with reporters in the Missouri Governor's Mansion on Thursday, Feb. 8, 2018.
File photo | Erin Achenbach I St. Louis Public Radio

Gov. Eric Greitens reiterated Thursday that his plan to cut the state’s tax will not be paired with a fuel tax increase.

The governor’s comments to members of the Missouri Press Association come as both Republicans and Democrats are getting behind the idea of raising taxes on gasoline and diesel fuel to pay for fixing the state’s roads and bridges.

Senate President Pro Tem Ron Richard, R-Joplin, said it's not a sure thing that Gov. Eric Greitens' nominees to the Board of Education will get a committee hearing.
Jason Rosenbaum I St. Louis Public Radio

Missouri Gov. Eric Greitens and Republican lawmakers are angling for tax cuts during this year’s legislative session. It’s a policy push that the GOP officials believe will make the state more attractive to businesses and potential residents.

But with the state facing yet another tough budgetary year, members of both parties worry that cutting taxes will deprive Missouri of revenue needed to fund basic state services. Some fear that Missouri is marching in the same direction as Kansas, where tax cuts have been criticized for hurting the state.

Gov. Eric Greitens sits down for an interview with St. Louis Public Radio in downtown St. Louis on July 17, 2017.
File photo | Carolina Hidalgo | St. Louis Public Radio

Missouri Gov. Eric Greitens is unveiling more details of his tax overhaul, which seeks to pair income and business tax cuts with paring down some popular tax breaks.

Greitens’ proposal would cut Missouri's income tax to 5.3 percent. Legislation that was passed in 2014 is already gradually reducing the state income tax to 5.5 percent. The proposal would also lower the corporate income tax from 6.25 percent to 4.25 percent. And it would institute an earned income tax credit for certain types of workers.

KRISSY LANE | ST. LOUIS PUBLIC RADIO

Missouri Gov. Eric Greitens has released portions of his plan to cut taxes in Missouri.

Greitens said in a written statement Thursday afternoon that most of the details of his proposal will be laid out “in the coming weeks.” But the Republican governor has listed several goals, or “principles,” that make up the plan.

Lt. Gov. Mike Parson introduces Greitens before he makes his State of the State address. (Jan 10, 2018)
Tim Bommel I House Communications

Amid a sex scandal that threatens his political future, Missouri Gov. Eric Greitens has canceled plans to hold an event Tuesday in St. Peters to promote his tax-cut proposal.

 

Greitens was scheduled to appear at Arrowhead Building Supply, which provides building materials to contractors.

U.S. Sen. Roy Blunt, his wife, Abigail Blunt, and son, Charlie, join artist Bryan Hayes at his studio in Washington, Missouri. (Dec. 27, 2017) The building was renovated using federal historic tax credits, which Blunt supports.
Jo Mannies | St. Louis Public Radio

U.S. Sen. Roy Blunt has at least two predictions heading into 2018:

The Missouri Republican expects the public will warm up to the new federal tax overhaul as more see fatter paychecks in the coming months. And he also believes that the GOP will avoid dealing with the nation’s popular entitlement programs –Medicaid, Medicare and Social Security – until Democrats gain more political power.

Sen. Caleb Rowden, center, was elected to the Missouri Senate in 2016.
Carolina Hidalgo I St. Louis Public Radio

On the latest edition of the Politically Speaking podcast, St. Louis Public Radio’s Jason Rosenbaum and KBIA’s Bram Sable-Smith welcome back Sen. Caleb Rowden to the show.

The Columbia Republican represents Missouri’s 19th Senatorial District. That includes Boone and Cooper Counties, which include the cities of Columbia and Boonville.

Rici Hoffarth | St. Louis Public Radio

Identical proposals in the Missouri House and Senate would overhaul Missouri’s tax code and slash more than a billion dollars in state revenue.

In a nutshell, the bill would lower the top state income tax bracket to 4.8 percent, which is lower than the tax cut that passed three years ago capping the top rate at 5.5 percent. The proposal would also completely exempt anyone who makes less than $4,000 a year from paying state income taxes.

Missouri state Treasurer Eric Schmitt
Carolina Hidalgo | St. Louis Public Radio

On the latest edition of the Politically Speaking podcast, St. Louis Public Radio’s Jason Rosenbaum and Jo Mannies welcome back state Treasurer Eric Schmitt to the program.

With his latest appearance, Schmitt becomes the first elected official to be on the show for the fifth time. He was a guest during his tenure as a state senator representing a portion of St. Louis County.

U.S. President Donald J. Trump delivers his remarks to a crowd of invited guests in St. Charles, Missouri on November 29, 2017.
Kae Petrin I St. Louis Public Radio

President Donald Trump made grand promises Wednesday that a pending federal tax overhaul will bring jobs back to "Main Street America'' by revamping a "dysfunctional'' tax system and providing tax cuts for working families.

He told a packed audience at the St. Charles Convention Center that only Democrats like Missouri's U.S. Sen. Claire McCaskill stood in the way of a more prosperous future.  The president portrayed McCaskill, a former prosecutor, as a tax-cut opponent who is "weak on crime,  weak on the border, weak on the military."

Supporters and opponents of President Donald Trump clashed for several hours outside of the St. Charles Convention Center where he spoke Wednesday afternoon. Police intervened several times.  11/29/17
Brit Hanson | St. Louis Public Radio

Updated at 3:45 p.m. — Hours before President Donald Trump was expected to call for changes to the federal tax code that he claims will boost the nation’s economy, protesters gathered outside of the St. Charles Convention Center.

Nearly 100 people who oppose the president and his policies held signs that read “LIAR” and chanted slogans like “Save America, Impeach Trump.” There were clashes between people who came to support the president and those who oppose him.

But the dominant message on St. Charles streets was that Trump’s presidency has been bad for the nation, particularly members of minority groups.

Republican Presidential candidate Donald Trump points to protesters that he tells to "get out," during his speech at the Peabody Opera House in St. Louis on March 11, 2016.
File photo, Bill Greenblatt | UPI

As President Donald Trump makes a pitch Wednesday for a federal tax overhaul, he plans to cast the city of St. Charles as an example of the “Main Street economy’’ he wants to help flourish across the country.

That’s the word from senior White House officials, who briefed regional reporters ahead of time on Trump’s key topics during an address Wednesday afternoon at the St. Charles Convention Center.

Donald Trump leaves the stage after a March 2016 speech at the Peabody Opera House.
File photo I Bill Greenblatt | UPI

President Donald Trump will promote federal tax cuts on Wednesday during an afternoon event at the St. Charles Convention Center.

This will be his first visit to the St. Louis area – and his second to Missouri — since taking office almost a year ago.

Congressman John Shimkus, November 2017
Jason Rosenbaum I St. Louis Public Radio

On the latest edition of the Politically Speaking podcast, St. Louis Public Radio’s Jason Rosenbaum and Jo Mannies welcome back U.S. Rep. John Shimkus to the show for the third time.

Shimkus is a Collinsville Republican who was first elected to the U.S. House in 1996. He represents the enormous and heavily Republican 15th congressional district, which encompasses a big chunk of southern Illinois. In fact, since redistricting went into effect in 2012, Shimkus says his district appears to be the largest – area-wise – of any district east of the Mississippi River.

Gage Skidmore | Flickr

UPDATED Thursday, Nov. 16, with U.S. House vote:

Top Missouri and Illinois officials in both parties are becoming increasingly active in the fight over proposed federal tax cuts, which now have a health care component.

Missouri’s two U.S. senators – Democrat Claire McCaskill and Republican Roy Blunt – illustrate the opposing sides. He’s for the latest version of the bill, while she’s against it.

The U.S. House version passed Thursday, with Rep. Ann Wagner of Ballwin among all six Missouri Republicans voting for it.  The state's two Democrats -- Lacy Clay of St. Louis and Emanuel Cleaver of Kansas City -- opposed the bill.

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