Missouri Senate Rejects Repeal of Low-Income Tax Credit
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.