tax cuts

7:49 am
Fri March 28, 2014

Mo. Senate considers tax cut

Credit Jacob Fenston / KBIA

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.

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7:19 am
Thu March 27, 2014

Mo. Senate endorses tax cut

Credit Ryan Famuliner / KBIA

Missouri senators have endorsed an income tax cut that could eventually waive an estimated $464 million a year in state revenues.

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.

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.

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8:41 am
Tue March 11, 2014

Tax Cut Bill Changes Focus To Tax Credit Reform, Sparks GOP Fight

Marshall Griffin/St. Louis Public Radio

Originally published on Tue March 11, 2014 10:38 am

A proposed tax cut that conformed to conditions laid out by Gov. Jay Nixon was radically altered Monday in an effort to move the overall proposal forward.

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8:21 am
Mon February 17, 2014

Nixon Outlines Requirements For Tax Cut Plan That He Could Support

Missouri Gov. Jay Nixon

Originally published on Wed February 19, 2014 9:05 pm

(Updated 12:45 p.m. Fri., Feb. 14)

Missouri Gov. Jay Nixon has unveiled a tentative deal for a tax-cut package made with some Republicans in the state Senate, but his requirements could delay when -- or if -- the cuts go into effect.

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8:14 am
Wed January 29, 2014

Tax Cut Proposal Passes Mo. House Committee; Testimony Heard On Tax Credit Package

The Mo. House Ways and Means Committee, shortly before passing HB1253 by a 9-6 vote.
Marshall Griffin/St. Louis Public Radio

Originally published on Wed January 29, 2014 9:17 am

Tax cuts and tax credits were the center of attention at hearings conducted by two Missouri House committees Tuesday night.

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3:39 pm
Thu January 16, 2014

Missouri tax cut backers, foes both cite Kansas cuts

Credit Andrew Magill / Flickr

Supporters and critics of Missouri tax cut plans both are pointing to the results of recent tax cuts in Kansas.

Several business groups testified during a Senate committee hearing Thursday that Missouri must cut taxes to discourage employers in the Kansas City area from moving across the state line.

But opponents said Kansas revenues and education funding have suffered as a result of its tax cuts.

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3:08 pm
Wed July 31, 2013

Nixon: Tax-cut bill will cost higher education millions

Gov. Jay Nixon says the University of Missouri System stands to lose up to $54 million annually if state lawmakers override his veto on House Bill 253.
Credit Kristofor Husted / KBIA

Gov. Jay Nixon continued stumping across the state discouraging state lawmakers from overriding his veto on a tax cut bill.

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.

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5:18 pm
Mon July 29, 2013

Gov. Nixon defends veto of Mo. tax cut legislation

Credit File Photo / KBIA

Gov. Jay Nixon is pointing to Missouri's credit rating in defending his veto of tax cutting legislation.

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.

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5:14 pm
Tue June 11, 2013

Nixon speaks out again about tax cut bill veto

Missouri Governor Jay Nixon
Credit File Photo / KBIA

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.  

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8:51 am
Wed May 8, 2013

Proposed Tax Cut Scaled Back By Mo. Senate Republicans

Marshall Griffin/St. Louis Public Radio

Originally published on Wed May 8, 2013 5:18 am

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.

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7:54 am
Thu March 7, 2013

Mo. Senate Endorses Tax Cut Legislation

In Jefferson City, Mo., Senate Republicans have scuttled Gov. Jay Nixon's nominee to direct the Missouri Department of Economic Development.

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.

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9:05 am
Mon February 25, 2013

McCaskill: Sequester Cuts Likely

(via Flickr/Senator McCaskill)

Originally published on Mon February 25, 2013 10:37 am

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.

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