Missouri Senate Rejects Repeal of Low-Income Tax Credit

7 years 5 months 1 week ago Tuesday, September 13 2011 Sep 13, 2011 Tuesday, September 13, 2011 4:09:00 PM CDT September 13, 2011 in News
Source: Associated Press
By: Associated Press

JEFFERSON CITY (AP) - Missouri senators have rejected an attempt to get rid of a tax break for low-income elderly and disabled residents who live in rented homes.

The tax break had been targeted for elimination as part of a bill that overhauls the state's existing tax credits and creates new incentives for some businesses. But senators voted 17-16 Tuesday to strip the tax-credit repeal from the legislation.

That amendment was sponsored by Republican Sen. Rob Schaaf, of St. Joseph. His move was backed by Democrats and a few Republicans. But other Republicans said the amendment punched a financial hole in tax credit legislation. Repealing the tax break would have saved the state about $58 million a year.

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