Missouri Legislature Passes $1 Billion Income Tax Cut Package
September 30, 2022 5:44AM CDT
Missouri State Capitol. Photo by Office of Administration, Commissioner’s Office.
(MISSOURINET) – The Missouri House of Representatives has sent to the governor today a one-billion-dollar income tax cut plan. The package would gradually lower the income tax rate from the current 5.3-percent to 4.5-percent over several years – if Missouri brings in enough revenue. Excelsior Springs State Representative Doug Richey, backs the plan…
Fellow Republican Representative, Bill Kidd of Buckner, says he’s disappointed in the effort…
The legislation would also get rid of the lowest tax bracket for those who earn less than 14-thousand dollars annually, which means they would not owe income taxes.
