Published 1 year ago

Missouri House votes to cut corporate, personal income taxes by $1 billion

Summary by Ground News

The bill would cut the top rate on personal income taxes, cut the corporate income tax rate in half and exempt Social Security payments from taxation. The bill would accelerate a tax cut approved in September that will reduce state revenues by almost $800 million annually when fully implemented. Missouri is enjoying a massive budget surplus currently approaching $7 billion.

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Fox 2 Now St Louis

Missouri House votes to cut corporate, personal income taxes by $1 billion

The Missouri House gave first-round approval to a $1 billion personal and corporate income tax cut Tuesday, as Republicans pushed the bill through despite Democratic warnings that vital services would be starved for funds. The bill would cut the top rate on personal income taxes, cut the corporate income tax rate in half and exempt Social Security payments from taxation. State Rep. Dirk Deaton, R-Noel, said the bill would promote economic growth…

1 year ago·St. Louis, United States

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Kansas City Star

Missouri House Republicans advance bill cutting corporate, individual income taxes

“We did just have the largest tax cut in the history of Missouri,” said state Rep. Deb Lavender, a Manchester Democrat. “Why are we trying to do that again when we finally have the opportunity to invest in Missourians.”

1 year ago·K C M O, United States

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Columbia Missourian

Missouri House votes to cut corporate, personal income taxes by $1 billion

The bill would slice the corporate rate in half and exempt all Social Security benefits from state taxation.

1 year ago·Calhoun, United States

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Joplin Globe

Missouri House votes to cut corporate, personal income taxes by $1 billion

JEFFERSON CITY, Mo. — The Missouri House on Tuesday gave first-round approval to a $1 billion personal and corporate income tax cut, as Republicans pushed the bill through despite Democratic warnings that vital services would be starved for funds.

1 year ago

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