Mo. House Backs Pair of Income Tax Cut Plans

4 years 6 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
(CNN) -- The Senate Judiciary Committee has scheduled a public hearing on the allegations against Supreme Court nominee Brett Kavanaugh... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 5:40:19 PM CDT September 17, 2018 in News
COLUMBIA - The Missouri Task Force One continues its work with victims of Hurricane Florence this week. The task force... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 5:28:00 PM CDT September 17, 2018 in News
MOBERLY - Supporters of the "Clean Missouri" initiative endorsed Amendment 1 after a judge ordered removal to take it off... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 5:20:00 PM CDT September 17, 2018 in News
KANSAS CITY (AP) — The Kansas City Police Department has rescinded commendations given to two officers involved in the fatal... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 5:05:10 PM CDT September 17, 2018 in News
COLUMBIA - Columbia is testing new lights downtown this week to try and curb violence and crime. The new... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 4:01:00 PM CDT September 17, 2018 in News
BEVIER - The Macon County deputy who shot a man during an incident in August is back at work. ... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 3:54:00 PM CDT September 17, 2018 in News
JEFFERSON CITY (AP) — Missouri's U.S. senators want a review of sexual misconduct allegations made against President Donald Trump's Supreme... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 2:42:00 PM CDT September 17, 2018 in News
PERRYVILLE (AP) — A 9-year-old boy whose bus driver saved him from choking says he now knows why candy isn't... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 2:38:54 PM CDT September 17, 2018 in News
JEFFERSON CITY - Two groups protested outside the Missouri Department of Corrections Monday morning with hopes of ending the 127... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 2:21:00 PM CDT September 17, 2018 in News
COLUMBIA - The Columbia City Council approved the new city budget Monday night. This was the final hearing for... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 1:28:00 PM CDT September 17, 2018 in News
JEFFERSON CITY (AP) — Missouri Auditor Nicole Galloway says cities and counties skipped out on an extra $698,000 in fees... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 1:05:00 PM CDT September 17, 2018 in News
JEFFERSON CITY - Police have arrested a man they say shot a man in Jefferson City on Saturday. Dana... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 12:00:00 PM CDT September 17, 2018 in News
COLUMBIA - On Sunday night, the MU Police Department arrested a man suspected of exposing himself at Ellis library. ... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 10:35:00 AM CDT September 17, 2018 in News
COOPER COUNTY - An I-70 motorcycle crash left one man dead Sunday night. The Missouri State Highway Patrol identified... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 7:29:00 AM CDT September 17, 2018 in News
COLUMBIA - One of the latest attack ads on Sen. Claire McCaskill, D- Missouri, claims the senator is giving her... More >>
1 day ago Monday, September 17 2018 Sep 17, 2018 Monday, September 17, 2018 4:30:00 AM CDT September 17, 2018 in News
COLUMBIA - Another Columbia resident is voicing her complaints about Bird scooters, and this time, she's talking to city council.... More >>
2 days ago Sunday, September 16 2018 Sep 16, 2018 Sunday, September 16, 2018 8:00:00 PM CDT September 16, 2018 in News
BRUNSWICK COUNTY, N.C. - Missouri Task Force One is currently assisting in search, rescue and evacuation operations in North Carolina... More >>
2 days ago Sunday, September 16 2018 Sep 16, 2018 Sunday, September 16, 2018 4:35:00 PM CDT September 16, 2018 in News
JEFFERSON CITY - The Jefferson City Council is expected to adopt the budget for 2019 Monday. If adopted, the budget... More >>
2 days ago Sunday, September 16 2018 Sep 16, 2018 Sunday, September 16, 2018 4:24:00 PM CDT September 16, 2018 in News
Columbia, MO
Broken Clouds 73°
3am 74°
4am 73°
5am 73°
6am 73°