Tagged: tax cuts

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.

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.

Democratic Senator from Missouri, Claire McCaskill, says the so-called sequester will likely go into place this Friday.

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.