State Rep. Paul Curtman, R-Pacific, will hold a town hall meeting Friday, Sept. 6, from 6 to 8 p.m. in Union to discuss the Legislature’s upcoming veto session, which starts Sept. 11.
It will be held at the Scenic Regional Library meeting room, 308 Hawthorne Drive.
Gov. Jay Nixon vetoed 29 bills from the last legislative session.
In a news release, Curtman stated that citizens are concerned about a tax cut bill that Nixon vetoed.
Curtman, who is the chairman of the Downsizing State Government Committee, has said Nixon’s veto of the bill was “misguided.”
In a letter accompanying his veto, Nixon called the tax-cut bill an “ill-conceived, fiscally irresponsible experiment” that would bring uncertainty into the state’s economy.
The tax cut would help small businesses keep more of their own money so they could expand and hire more workers, according to Curtman.
“Regardless of whether they are for or against a particular measure, I want to make sure I receive my constituents’ input and have an open dialogue with them about their concerns,” Curtman said in a news release. “As with most political debates, there is a host of misinformation being communicated. The voters of District 109 deserve to know the facts. I would encourage any and all who would like to meet with their state representative firsthand to come to the town hall and be heard.”
The vetoed tax reduction bill would reduce the maximum tax rate on personal income by 0.5 percent over 10 years. Once fully phased in, the maximum tax rate would be 5.5 percent for individuals.
But the reduction would only take effect if the state’s tax revenue grew by $100 million over any of the previous three fiscal years, the bill states.
This way the state would not be put into a financially dangerous situation by the loss of revenue, State Rep. Dave Hinson, R-St. Clair, has said.
The bill would also create an individual income tax reduction for business income and phase it in over five years. Once this deduction was fully phased in, it would allow a business owner to deduct 50 percent of business income after 2017.
It would also reduce the corporate income tax rate by 3 percent over 10 years. But this reduction could also only occur if the state tax revenue in a fiscal year exceeded that of any of the three previous years by $100 million.
Gov. Nixon said the bill would cost state government $800 million a year when fully implemented and jeopardize funding of education and public services, the governor added.
“The magnitude of the choice here is significant, very significant,” Nixon said. “Throwing a huge tax cut that’s sloppily worded with huge amounts of unintended consequences like raising taxes on seniors on prescription drugs and students on buying their books is not the way to move our economy forward.”