New Tax Cut Plan Debated in Missouri Senate
JEFFERSON CITY, Mo. (AP) – A new plan to cut Missouri income taxes is drawing opposition from both Republicans and Democrats in the state Senate.
The plan put forth Wednesday by Republican Sen. Will Kraus is modeled on a proposal by Democratic Gov. Jay Nixon to make tax cuts contingent on several factors. Those include full funding for schools, new limits on tax credits and growth in state revenues.
Some Republican senators opposed the contingencies. They said the Republican-led Legislature should pass a straight tax cut and not try to appease the governor.
Some Democratic senators also criticized the proposal. They said it would benefit the rich more than the poor.
The plan would cut individual income tax rates by up to four-tenths of a percentage point and create a business income deduction.
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