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Mo. House panel to consider tax overhaul

Mo. House panel to consider tax overhaul

April 1st, 2013 in News

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.

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Tax overhaul is SB26

Online:

Legislature: http://www.moga.mo.gov