Tagged: tax cuts

Governor Jay Nixon (D) delivered a mixed report card Friday on the state budget and other bills passed by the Republican-controlled Missouri General Assembly this week.

While he complimented lawmakers for increasing funding for K-12 schools and higher education, he also criticized them for passing legislation that would cut state income tax rates for individuals and corporations.  He told reporters that the bill would gut state revenues by more than $800 million.

A proposal to cut state income taxes in Missouri for both individuals and businesses is on its way to Governor Jay Nixon (D).

Republicans in the Missouri Senate have scaled back a proposal to cut state taxes in order to emulate tax cuts in neighboring Kansas and Oklahoma.

Governor Jay Nixon (D) has strongly objected to the bill's sales tax hike, saying it would hurt the poor and elderly the most.  That provision has been dropped.  House Bill 253 would now cut the personal income tax rate by half a percentage point and the corporate rate by three points, and phase them both in over the next 10 years.  Republican Will Kraus of Lee’s Summit is handling the measure in the Senate.