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Here are today’s top business headlines from across Missouri:
Cabela’s says federal regulators have ended their investigation into Bass Pro Shops’ $4 billion deal to buy the Nebraska-based chain. Cabela’s said Wednesday that the Federal Trade Commission signed off on the purchase by Springfield-based Bass Pro earlier this week. Cabela’s shareholders will vote on the deal, which would pay them $61.50 per share, next Tuesday. Read more
U.S. Rep. Ann Wagner, a Republican from Ballwin, has upended Missouri’s 2018 expected contest for the U.S. Senate by announcing Monday that she won’t challenge Democratic incumbent Claire McCaskill. Wagner instead plans to seek re-election for the House seat she has held since 2013. The decision likely will put more pressure on Missouri Attorney General Josh Hawley, who has been publicly encouraged to run for Senate by leading GOP figures in the Missouri. Read more
Missouri’s tax rates are poised to head downward. As part of a 2014 law approved by the Missouri Legislature, the state’s top personal income tax rate is positioned to drop to 5.9 percent from its current 6 percent beginning with taxes paid in 2018. It will drop to 5.5 percent over the next five years. There also will be a new 25 percent deduction on business income reported on individual returns. The decrease appears to have been triggered on Friday, the final day of the state’s fiscal year. Read more
Missouri has a $27 billion spending plan for the new fiscal year now that Gov. Eric Greitens has added his signature to slew of appropriations bills that make up the state budget. But the governor has yet to sign into law or veto more than two dozen other bills. Read more
Federal financial aid for low-income students that’s now available all year could push more students through community colleges faster and increase the likelihood of them earning a degree. The U.S. Department of Education announced the return of year-round Pell Grants for the fiscal year that began July 1. And with large portions of students studying at community colleges eligible for the grant program, it could increase summer enrollment figures. Read more
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