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Mo. group runs ad against proposed income tax cut

Mo. group runs ad against proposed income tax cut

April 2nd, 2013 in News

JEFFERSON CITY, Mo. (AP) - An organization that analyzes Missouri financial issues has begun running a radio ad against legislation that would cut state income taxes while raising the sales tax.

The Missouri Budget Project said Tuesday that this marks the first time in its 10-year history that the St. Louis-based nonprofit has paid for ads against a policy proposal.

The ad targets legislation scheduled for a House committee hearing Tuesday that would cut income taxes by three-quarters of a percentage point while increasing the sales tax by a half cent. The bill already has passed the Senate.

The Budget Project claims the measure could reduce state revenues by $960 million annually once fully implemented. Other legislative estimates have put the cost at almost half that amount.