Missouri Gov. Jay Nixon and some potential allies in the latest legislative battle over tax cuts stepped up their attack Thursday on two fronts.
Just as the General Assembly was leaving for its long weekend, the governor issued a statement making clear that the tax-cut measures that the House and Senate have been considering so far don’t meet his standards for approval.
Tax cuts and tax credits were the center of attention at hearings conducted by two Missouri House committees Tuesday night.
First, the House Ways and Means Committee approved this year’s attempt to cut taxes. House Bill 1253, or the Broad-Based Tax Relief Act of 2014, would tie the state’s income tax rate for business owners to economic growth, dropping the tax rate by 10 percent each year if certain conditions are met, with the ultimate goal of cutting taxes by 50 percent.