Missouri House Shows Support For Business Tax Breaks

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

The Missouri House has given first-round approval to two similar bills that would create tax breaks for business income that’s reported on individual income tax returns.

They differ in this way: House Bill 1253 would pair the business income deduction with a tax cut on corporations and cost the state an estimated $347 million each year, while House Bill 1295 would pair it with a cut to Missouri’s individual income tax rate and cost more than $700 million.

Gov. Jay Nixon said last week that he would veto any bill this year that deprives funding to public schools and universities.

Read more from St. Louis Public Radio


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