tax overhaul http://kbia.org en Mo. House panel to consider tax overhaul http://kbia.org/post/mo-house-panel-consider-tax-overhaul <p>A Missouri House committee plans to hear testimony this week on a contentious tax overhaul that has already cleared the state Senate.</p><p>The Republican-backed measure would gradually reduce the state's income tax rate by three-quarters of a percentage point over five years while gradually raising the state sales tax by half a percentage point over the same period.</p> Mon, 01 Apr 2013 14:19:34 +0000 Associated Press 31288 at http://kbia.org Mo. House panel to consider tax overhaul Analysis: Mo. tax plan may save little for many http://kbia.org/post/analysis-mo-tax-plan-may-save-little-many <p>The typical Missouri household might have relatively little to gain from a Senate-endorsed overhaul of the state's tax policies.</p><p>The proposed mixture of income tax cuts and sales tax hikes could save a few dozen dollars annually for a family of four earning just slightly more than Missouri's median household income of about $45,000.</p><p>Wealthier taxpayers, particularly those running their own businesses, might save a lot more. Yet seniors reliant on Social Security benefits could pay more.</p> Mon, 11 Mar 2013 14:01:46 +0000 Associated Press 30204 at http://kbia.org Analysis: Mo. tax plan may save little for many