Breaking News

More Tax Talk For Missouri’s House

A Missouri House committee plans to hear testimony this week on a contentious tax overhaul that has already cleared the state Senate.

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.

The bill would also nearly double the personal tax deduction for people with adjusted gross incomes below $20,000.

Still, Governor Nixon does not support the proposal, saying it would shift the tax burden from corporations and affluent Missourians to those who can least afford it.

Leave a Reply

Your email address will not be published. Required fields are marked *