Sen. Kraus says he’s not likely to support a gas tax hike, and said his biggest concern is how the state is spending over $400 million a year paying back bonds.
The Senate’s 23-8 party-line vote was just enough to meet the constitutional requirement of a two-thirds majority.
For the second straight year, the legislature sent a tax cut bill to Democratic Gov. Jay Nixon for his signature or veto.
The new projection from legislative researchers is to be considered Monday by a Senate fiscal review committee. If the panel signs off, the full Senate then could vote to pass the legislation on to the House.
A day after senators endorsed a tax cut plan, Missouri Gov. Jay Nixon said Thursday that any discussion of tax cuts “is a nonstarter” until lawmakers first curb the amount of tax breaks going to commercial and residential developers.
The income tax cut plan could eventually waive a little less than $500 million of revenues annually, an amount about half the size as originally proposed with a later effective date.
A new plan to cut Missouri income taxes is drawing opposition from both Republicans and Democrats in the state Senate.
Missouri’s previous efforts of enacting a law have failed in the courts.
Missouri’s campaign finance limits were eliminated by legislation passed in the closing hours of the 2008 session.
The measure would decrease both corporate and personal income tax rates in phases over the next 10 years.