Senate Begins Debate On Tax Cut Bill

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

The Missouri Senate has begun debate on a compromise tax cut brokered last month between Gov. Jay Nixon, a Democrat, and state Sen. Will Kraus, R-Lee’s Summit.

The new version of Senate Bill 509 would cut the individual income tax rate in Missouri — but not until the foundation formula for K-12 schools is fully funded and state revenue grows by an additional $200 million a year. It also calls for overhauling the state’s tax credits.

The Republican chairman of the Appropriations Committee chairman suggested the senators ignore Nixon’s demands and pass what they want. Some Senate Democrats also criticized the proposal.

Read more from St. Louis Public Radio/Beacon


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