Missouri Senate Passes Tax Cut Bill

Photo courtesy of Creative Commons
Courtesy of Creative Commons

The Missouri Senate passed a tax cut bill after two different versions were blocked by Republicans who opposed a compromise with Democratic Gov. Jay Nixon. Senate Bill 509 would cut the individual income tax rate from 6 percent to 5.5 percent and phase in a 25 percent deduction on an individual’s business income.

The changes would not take effect until 2017. Nixon has criticized Senate Bill 509 and is expected to veto the legislation if it ends up passing the full General Assembly.

Read more from St. Louis Public Radio

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