tax cuts

tax cuts
5:55 pm
Wed March 6, 2013

Mo. Senate Endorses Tax Cut Legislation

UPI/Bill Greenblatt

The Missouri Senate has given first-round approval to a phased-in tax overhaul designed to help the Show-Me State compete with neighboring Kansas, which recently slashed its tax rates.


Senate Bill 26 would lower state income taxes for individuals and corporations by three-quarters of a percentage point while raising the state sales tax by half a point.  Both would be phased in over a five-year period.  State Senator Will Kraus (R, Lee’s Summit) says it would result in a revenue loss of around $450 million a year.

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tax cuts
6:18 pm
Mon February 25, 2013

Mo. Senate Committee Proposes $1.1 Billion Tax Cut

Mo. Capitol
Marshall Griffin/St. Louis Public Radio

Missouri's response to last year's big tax cuts in neighboring Kansas could carry a $1.1 billion price tag.


A Missouri Senate committee on Monday endorsed a proposal to cut the state's individual and corporate income tax rates by 1.5 percentage points. The individual rate would fall to 4.5 percent, and the corporate rate to 4.75 percent.


Senate Republicans are looking to respond to Kansas' tax cuts, which they say have caused businesses to move from Missouri across the border.

Illinois / Tax Cuts
1:15 pm
Mon November 28, 2011

Ill. legislative committee OKs smaller tax-break package

An interior look at the dome of the Illinois State Capitol building in Springfield, Ill.
(via Flickr/jglazer75)

Updated 3:47 p.m.:

A package of tax breaks for Illinois businesses made it through a legislative committee despite major concerns by lawmakers.

The House Revenue Committee approved the measure 6-0 Monday. But two important legislators said they may oppose the bill when it comes up on the House floor.

The package would cost state government about $250 million a year. That's down from $850 million in an earlier proposal.

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National Tax Bill
5:07 pm
Wed December 8, 2010

Mo. Senators Bond, McCaskill on voting Obama tax package

U.S. Senators for Missouri Kit Bond, at left, and Claire McCaskill.
St. Louis Public Radio

Often tax legislation is a little bit muddled. We try to break down Obama's latest for you and let you know what your U.S. Senators, Kit Bond and Claire McCaskill, think as they go to vote on the bill.

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