Missouri Income Tax Legislation Has Been Passed

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Despite reservations from Governor Jay Nixon, the Missouri Senate has passed legislation that cuts state income taxes.  The bill was passed yesterday by the Republican Led Senate and could phase-in tax cuts beginning in 2017.  According to legislative researchers, it’s projected to potentially waive more than $620-million dollars annually.  Governor Nixon is calling the tax cut a reckless experiment and is threatening to veto the measure unless the bill protects education and reduces existing tax breaks for developers.  The bill now goes to the house.

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