ST. LOUIS (KMOX) – During a visit to a school for the disabled on Thursday, Gov. Jay Nixon announced that he would veto a bill later in the day.
The Democratic governor is vetoing SB 509, the Republican plan to cut taxes by $620 million annually.
Under that plan, nobody making $9,000 or more would pay Missouri state income taxes.
Gov. Nixon says this is a “historically bad idea” that would slash funding for public schools by more than $200 million and it could lower the state’s bond rating, making it harder for schools and towns to raise money by issuing bonds.
There are 108 Republicans in the Missouri House, and if they want to override Nixon’s tax cut veto, they’ll need help from at least one Democrat.
(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
MORE POLITICS NEWS:
- Depp’s ‘Assassin’ Comments the Latest in Celebrity Anger
- Stenger Understands Ellisville’s Concerns About Merger
- Mo. Attorney General May Run for Senate
- Local Nonprofits Oppose Tax Plan for St. Louis Police
- City Struggles With Trash Pick-Up, Garbage Truck Shortage
- Greitens Backs Ramped-Up Missouri Abortion Bill