Mo. House panel to consider tax overhaul
Monday, April 1, 2013
JEFFERSON CITY, Mo. (AP) — A Missouri House committee plans to hear testimony this week on a contentious tax overhaul that has already cleared the state Senate.
The Republican-backed measure would gradually reduce the state’s income tax rate by three-quarters of a percentage point over five years while gradually raising the state sales tax by half a percentage point over the same period.
The bill scheduled to be considered Tuesday also includes a section intended to benefit the poor by nearly doubling the personal tax deduction for people with adjusted gross incomes below $20,000.
Democratic Gov. Jay Nixon has denounced the proposal, saying it would shift the tax burden from corporations and affluent Missourians to those who can least afford it.
Tax overhaul is SB26
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