Mo. Gov. Nixon Outlines Potential Tax Cut Plan
JEFFERSON CITY (AP) - Missouri Gov. Jay Nixon says he would enact an income tax cut, if lawmakers agree to several contingencies.
The Democratic governor said Thursday that he would sign a bill cutting individual income tax rates by up to one-half of a percentage point, if the tax cut is contingent on Missouri fully funding public schools and curbing some of the state's costliest tax credit programs.
Nixon also said that any incremental tax cut should be contingent on continued growth of at least $200 million annually in tax revenues.
Last year, Nixon vetoed an income tax cut bill passed by the Republican-led Legislature, citing concerns about its effect on education funding.
He's been negotiating with some Republican senators on a new version of the bill.