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Friday, 11 April 2014 06:33

Tax Cuts Debated In Missouri Legislature

JEFFERSON CITY, Mo. (AP) - Missouri's Republican lawmakers are advancing a pair of tax cut proposals for potential debate in the coming weeks.
 
A House committee on Thursday endorsed legislation already passed by the Senate that would cut income tax rates for individuals and some business owners. That proposal is projected by legislative researchers to reduce state revenues by $620 million annually when fully phased in.
 
Also Thursday, a Senate committee changed and endorsed a tax cut bill that previously passed the House. As revised, that plan would cut income taxes only for businesses, not individuals. Its cost is estimated at about half the amount as the other bill.
 
Committee approval of the bills means they could soon be considered by the full House and Senate.
 
Published in Local News
Thursday, 27 March 2014 17:19

Governor Nixon issues ultimatum on tax cuts

JEFFERSON CITY, Mo. (AP) - Missouri Gov. Jay Nixon says any "discussion of tax cuts is a nonstarter" until lawmakers first take steps to curb the amount of money going to tax breaks for developers.
 
Nixon's statement Thursday came a day after the Senate gave initial approval to legislation that could gradually reduce the state's income tax rates, beginning in 2017.
 
An income tax cut is a top priority this year for Republicans.
 
The Democratic governor vetoed a tax-cut plan last year and has threatened to do so again unless it meets several criteria. Those include full funding for public schools and new limits on tax credit programs for the development of low-income housing and historic buildings.
 
The Senate bill is not contingent upon conditions being met.
Published in Local News
Wednesday, 12 February 2014 16:37

Missouri Senate delays debate on tax cuts

JEFFERSON CITY, Mo. (AP) - The Missouri Senate has delayed a debate on tax cuts while negotiations continue with Gov. Jay Nixon's office.
 
Senators had been expected to debate legislation Wednesday that would cut income taxes for individuals and many businesses.
 
But Senate Majority Leader Ron Richard said that debate will wait until next week to give more time for the Republican sponsor of the measure to try to work out a compromise with the Democratic governor's office.
 
Nixon vetoed an income tax-cut bill passed last year, citing technical problems and concerns that the measure could drain money available for public schools.
 
Richard said negotiations are focused on the dollar amount of the proposed tax cut and whether it should apply both to individual and businesses that report income on individual tax returns.
Published in Local News
   JEFFERSON CITY, Mo. (AP) - Missouri lawmakers plan to make another attempt at cutting income taxes during their 2014 session.
   Democratic Governor Jay Nixon vetoed an income tax cut bill passed earlier this year, and majority party Republicans were unable to override it.
   House and Senate leaders say an income tax cut will be an early priority when lawmakers convene January 8th.
   Representative T.J. Berry, who sponsored the vetoed bill, says next year's version will leave out some of the provisions to which Nixon objected. One of those dropped sections would have automatically cut state income tax rates even further if Congress enacted a law making it easier for states to collect taxes on sales made over the Internet.
   Bill sponsor Senator Will Kraus says lawmakers want to simplify the legislation and lower its cost.
 
Published in Local News

   Texas Governor Rick Perry says that unless Missouri lawmakers override Governor Jay Nixon's veto of an income tax cut, he won't be the only governor trying to lure business from the Show-me State.  Perry made the comments Thursday evening while speaking at a pro-tax cut rally in Chesterfield.  

   Perry had spent the day in the St. Louis area pushing for the override of Nixon's veto of House Bill 253.

   Nixon crisscrossed the state Thursday, telling crowds that the tax cut would imperil critical services like education and risk the state's Triple-A tax rating. 

   Both men spent Thursday morning discussing their positions with McGraw Milhaven on his KTRS morning show.  Nixon continued to criticize the Texas Governor for trying to "poach" business, while Perry said it's merely competition in a very competitive arena.

   Perry also told McGraw that $40 million in business leaves Missouri for Texas every year, although he could not name any specific business. Nixon contests that figure.

   The Missouri Governor said the bottom line is that states should be competing against the world for a piece of the economic pie, not slicing into each other's portion.

   The story made national headlines after KTRS management rejected Perry's ad campaign aimed at convincing Missouri businesses to move to the Lone Star state.
Published in Local News

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