tax cuts http://kbia.org en Mo. Senate considers tax cut http://kbia.org/post/mo-senate-considers-tax-cut <p>A proposed tax cut is once again moving forward in the Missouri Senate after it was rewritten yet again. The bill had stalled after its sponsor, Republican Will Kraus of Lee’s Summit, offered a substitute that conformed to conditions that Democratic Governor Jay Nixon said were necessary for him to sign it.</p> Fri, 28 Mar 2014 12:49:13 +0000 Marshall Griffin 50387 at http://kbia.org Mo. Senate considers tax cut Mo. Senate endorses tax cut http://kbia.org/post/mo-senate-endorses-tax-cut <p>Missouri senators have endorsed an income tax cut that could eventually waive an estimated $464 million a year in state revenues.</p><p>The legislation given initial approval Wednesday would cut taxes by half of the amount originally proposed by a Republican-led committee. It could gradually cut the state's top individual income tax rate to 5 and a half percent from the current 6 percent.</p><p>It also could phase in a 25 percent deduction for business income reported on individual income tax returns, and add a $500 tax deduction for lower-income individuals.</p> Thu, 27 Mar 2014 12:19:58 +0000 Associated Press 50320 at http://kbia.org Mo. Senate endorses tax cut Tax Cut Bill Changes Focus To Tax Credit Reform, Sparks GOP Fight http://kbia.org/post/tax-cut-language-replaced-tax-credit-language-senate-bill <span style="line-height: 1.5;">A proposed tax cut that conformed to conditions laid out by <a href="http://governor.mo.gov/">Gov. Jay Nixon</a> was radically altered Monday in an effort to move the overall proposal forward.</span><p><span style="line-height: 1.5;">The sponsor, <a href="http://www.senate.mo.gov/14info/members/mem08.htm">state Sen. Tue, 11 Mar 2014 13:41:45 +0000 Marshall Griffin 49389 at http://kbia.org Tax Cut Bill Changes Focus To Tax Credit Reform, Sparks GOP Fight Nixon Outlines Requirements For Tax Cut Plan That He Could Support http://kbia.org/post/nixon-outlines-requirements-tax-cut-plan-he-could-support <strong><em>(Updated 12:45 p.m. Fri., Feb. 14) </em></strong><p>Missouri Gov. Mon, 17 Feb 2014 14:21:20 +0000 Jo Mannies 48276 at http://kbia.org Nixon Outlines Requirements For Tax Cut Plan That He Could Support Tax Cut Proposal Passes Mo. House Committee; Testimony Heard On Tax Credit Package http://kbia.org/post/tax-cut-proposal-passes-mo-house-committee-testimony-heard-tax-credit-package <span style="line-height: 1.5;">Tax cuts and tax credits were the center of attention at hearings conducted by two Missouri House committees Tuesday night.</span><p>First, the House Ways and Means Committee approved this year’s attempt to cut taxes.&#160; <a href="http://www.house.mo.gov/billsummary.aspx?bill=HB1253">House Bill 1253</a>, 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.&#160;<p Wed, 29 Jan 2014 14:14:46 +0000 Marshall Griffin 47340 at http://kbia.org Tax Cut Proposal Passes Mo. House Committee; Testimony Heard On Tax Credit Package Missouri tax cut backers, foes both cite Kansas cuts http://kbia.org/post/missouri-tax-cut-backers-foes-both-cite-kansas-cuts <p></p><p></p><p>Supporters and critics of&nbsp;Missouri&nbsp;tax cut plans both are pointing to the results of recent tax cuts in Kansas.</p><p>Several business groups testified during a Senate committee hearing Thursday that&nbsp;Missouri&nbsp;must cut taxes to discourage employers in the Kansas City area from moving across the state line.</p><p>But opponents said Kansas revenues and education funding have suffered as a result of its tax cuts.</p> Thu, 16 Jan 2014 21:39:45 +0000 Associated Press 46756 at http://kbia.org Missouri tax cut backers, foes both cite Kansas cuts Nixon: Tax-cut bill will cost higher education millions http://kbia.org/post/nixon-tax-cut-bill-will-cost-higher-education-millions <p> Gov. Jay Nixon continued stumping across the state discouraging state lawmakers from overriding his veto on a tax cut bill.</p><p>At the University of Missouri Columbia campus Wednesday, Nixon said the bill could result in a funding slash of $67 million per year for the state’s higher education institutions. The University of Missouri system alone stands to lose $31 million per year. And if a federal online sales tax bill passes, the state number jumps up to a cut of $116 million annually.</p> Wed, 31 Jul 2013 20:08:37 +0000 Kristofor Husted 38046 at http://kbia.org Nixon: Tax-cut bill will cost higher education millions Gov. Nixon defends veto of Mo. tax cut legislation http://kbia.org/post/gov-nixon-defends-veto-mo-tax-cut-legislation <p>Gov. Jay Nixon is pointing to Missouri's credit rating in defending his veto of tax cutting legislation.</p><p>Nixon has sent lawmakers a letter that says enacting the tax cuts could jeopardize Missouri's AAA-credit rating. Nixon says credit rating agencies noted the legislation in reports this month.</p> Mon, 29 Jul 2013 22:18:48 +0000 Associated Press 37935 at http://kbia.org Gov. Nixon defends veto of Mo. tax cut legislation Nixon speaks out again about tax cut bill veto http://kbia.org/post/nixon-speaks-out-again-about-tax-cut-bill-veto <p></p><p></p><p><span style="line-height: 1.5;">Governor Jay Nixon continues to speak out against the tax cut bill he vetoed last week, in the hopes that any override attempt this fall will fail. &nbsp;</span></p><p> Tue, 11 Jun 2013 22:14:36 +0000 Marshall Griffin 35276 at http://kbia.org Nixon speaks out again about tax cut bill veto Proposed Tax Cut Scaled Back By Mo. Senate Republicans http://kbia.org/post/proposed-tax-cut-scaled-back-mo-senate-republicans <P>Republicans in the Missouri Senate have scaled back&#160;a proposal to cut state taxes in order to emulate tax cuts in neighboring Kansas and Oklahoma.</P> <P>Governor Jay Nixon (D)&#160;has strongly objected to the bill's sales tax hike, saying it would hurt the poor and elderly the most.&#160; That provision has been dropped.&#160;&#160;House Bill 253&#160;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.&#160; Republican Will Kraus of Lee’s Summit is handling the measure in the Sena Wed, 08 May 2013 13:51:45 +0000 Marshall Griffin 33366 at http://kbia.org Proposed Tax Cut Scaled Back By Mo. Senate Republicans Mo. Senate Endorses Tax Cut Legislation http://kbia.org/post/mo-senate-endorses-tax-cut-legislation-0 <p>The <a href="http://www.senate.mo.gov/" target="_blank">Missouri Senate</a> 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.</p> Thu, 07 Mar 2013 13:54:53 +0000 Marshall Griffin 30033 at http://kbia.org Mo. Senate Endorses Tax Cut Legislation McCaskill: Sequester Cuts Likely http://kbia.org/post/mccaskill-sequester-cuts-likely <span style="line-height: 1.5;">Democratic Senator from Missouri, Claire </span>McCaskill<span style="line-height: 1.5;">, says the so-called sequester will likely go into place this Friday.</span><p>On Fox News Sunday McCaskill said the Senate will take action to avoid the spending cuts, she then pointed the finger at the House Republicans for not doing the same.<p>“Here’s what’s really going on,"&#160;<span style="line-height: 1.5;">McCaskill</span><span style="line-height: 1.5;">&#160;said.</span><span style="line-height: 1.5;">&#160;"In Washington, as usual, you have a large Kabuki going o Mon, 25 Feb 2013 15:05:20 +0000 Tim Lloyd 29432 at http://kbia.org McCaskill: Sequester Cuts Likely