As session winds down, Missouri lawmakers push plans for tax cuts

With just three weeks left in the Missouri Legislature’s session, lawmakers are still promoting plans to alter the state’s tax code, but the changes being proposed may not be as dramatic as some Republicans wanted.

Two competing plans have received the bulk of lawmakers’ attention. One, proposed by House Speaker Pro Tem Elijah Haahr, R-Springfield, would cut individual and corporate tax rates while boosting auto licensing fees to pay for transportation infrastructure. It was the subject of a Senate hearing Tuesday.

The other, proposed by Sen. Bill Eigel, R-St. Charles County, has stalled in the Senate, prompting Eigel to suggest offering a substitute that focuses only on tax cuts for individuals.

Both Haahr’s bill and Eigel’s original bill would cut individual and corporate rates and require Missouri to start collecting tax on online sales. Eigel’s would raise the state’s fuel tax to fund transportation infrastructure, while Haahr’s would implement the fee hikes. Haahr’s would also end planned tax cuts to pass-through entities.

A third bill, sponsored by Sen. Andrew Koenig, R-St. Louis County, would slash the corporate tax rate by nearly half. It passed the Senate and is scheduled for a House committee hearing.

Read more: Kansas City Star


Tags:, , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students