Mo. House Backs Pair of Income Tax Cut Plans

4 years 4 months 4 weeks ago Wednesday, February 19 2014 Feb 19, 2014 Wednesday, February 19, 2014 5:57:00 PM CST February 19, 2014 in News
By: The Associated Press

JEFFERSON CITY (AP) - The Missouri House has endorsed a pair of tax cut plans that could reduce state revenues by hundreds of millions of dollars annually.

The bills given initial approval Wednesday in the Republican-led chamber could set up another showdown with Democratic Gov. Jay Nixon, who vetoed an income tax cut bill last year.

One of the bills could eventually cut taxes by $700 million annually. It would gradually reduce Missouri's top individual income tax rate to 5.3 percent from 6 percent and phase in a 50 percent deduction for business income reported on individual tax returns.

The other bill includes a similar business income deduction paired with a 50 percent cut in Missouri's corporate income tax rate. It's projected by legislative researchers to cost up to $347 million annually.

 

More News

Grid
List
(AP) - President Donald Trump has indicated that he's willing to hit every product imported from China with tariffs and... More >>
2 hours ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 8:52:00 AM CDT July 20, 2018 in News
BRANSON - A press conference was held Friday morning following Thursday's fatal boat capsizing at Table Rock Lake. Authorities... More >>
4 hours ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 7:23:00 AM CDT July 20, 2018 in News
BRANSON (AP) — The Latest on a deadly tourist boat accident in Missouri (all times local): 7:59 a.m. ... More >>
4 hours ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 7:16:00 AM CDT July 20, 2018 in News
BRANSON - The recent boat incident that killed 11 and injured seven in Branson isn't the first time Ride the... More >>
9 hours ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 2:06:00 AM CDT July 20, 2018 in News
COLUMBIA - Thursday evening around 9:00 pm, two cars collided head-on at the intersection of Worley St. and W. Boulevard.... More >>
12 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 11:14:00 PM CDT July 19, 2018 in News
COLUMBIA - The City of Columbia confirmed Friday the household hazardous waste collection is cancelled. The waste collection was... More >>
13 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 10:16:00 PM CDT July 19, 2018 in News
(CNN) -- More illnesses have been reported across the United States in two separate cyclospora outbreaks, federal health officials said... More >>
14 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 9:31:35 PM CDT July 19, 2018 in News
BRANSON - The Stone County Sheriff has confirmed that Missouri State Highway Patrol diving searches have ended for the night... More >>
14 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 9:12:00 PM CDT July 19, 2018 in News
(CNN) -- Gun-rights activists have reached a settlement with the government that... More >>
14 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 8:57:04 PM CDT July 19, 2018 in News
COLUMBIA - The Loop CID met with the Planning and Zoning Committee Thursday night to discuss future plans for Business... More >>
15 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 7:46:00 PM CDT July 19, 2018 in News
JEFFERSON CITY - Missouri House Minority Floor Leader Gail McCann Beatty will resign later this week to take a job... More >>
16 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 6:55:00 PM CDT July 19, 2018 in News
DES MOINES, Iowa - Pella Regional Health Center spokeswoman Billie Rhamy confirmed Thursday evening injuries were minor and all patients... More >>
16 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 6:49:00 PM CDT July 19, 2018 in Continuous News
(CNN) - President Donald Trump hopes to welcome Russian President Vladimir Putin in Washington this fall, White House press secretary... More >>
18 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 5:09:00 PM CDT July 19, 2018 in News
JEFFERSON CITY - Planned Parenthood advocates demonstrated a mock health care waiting room in Governor Parson's office Thursday. The... More >>
19 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 4:16:00 PM CDT July 19, 2018 in News
JEFFERSON CITY (AP) — Missouri Attorney General Josh Hawley has charged a former Greenville city clerk with stealing more than... More >>
20 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 3:07:00 PM CDT July 19, 2018 in News
JEFFERSON CITY (AP) — State conservation officials say six black bears have died after being hit by vehicles in Missouri... More >>
20 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 3:02:00 PM CDT July 19, 2018 in News
ALBANY (AP) — Prosecutors say a northern Missouri man and woman subjected an 11-year-old girl to nearly a year of... More >>
20 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:54:00 PM CDT July 19, 2018 in News
POPLAR BLUFF (AP) — A police detective and an official with the U.S. Marshals Service are recovering after being shot... More >>
21 hours ago Thursday, July 19 2018 Jul 19, 2018 Thursday, July 19, 2018 2:39:00 PM CDT July 19, 2018 in News
Columbia, MO
Broken Clouds 87°
12pm 88°
1pm 90°
2pm 92°
3pm 92°