Missouri House Passes Tax Cut Plan
The Missouri House has passed a proposed one-billion-dollar tax cut plan. The Republican bill would reduce the corporate income tax from four percent to one percent by 2025 if certain revenue conditions are met. Other pieces would reduce the income tax rate and remove all taxes on social security. State Representative Dirk Deaton of Noel, is sponsoring the bill that is headed to the Senate.
State Representative Peter Merideth, a St. Louis Democrat, says the legislation would lead to state budget cuts on other items to help seniors and public education.