With Veto Override, State Income Tax Cuts Enacted

After luring a lone Democrat to its side, the Republican-dominated House mustered enough votes to override Gov. Jay Nixon’s veto of a bill that gradually reduces income taxes in Missouri. The Senate had voted for the override Monday on a straight party-line vote of 23-8.

“This will bring more growth, more opportunity and more prosperity for more Missourians,” said House Speaker Tim Jones, R-Eureka.

Detractors said cutting taxes by $620 million could jeopardize funding for essential state services.

The legislation would gradually cut the top individual income tax rate to 5.5 percent from the current 6 percent and phase in a 25 percent deduction for business income reported on personal tax returns over a five-year period. A family of four with a business owner making $100,000 annually could get a tax cut of more than $1,600. Those tax cuts wouldn’t kick in until 2017.

Read more from the Kansas City Star and the St. Louis Post-Dispatch

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