The Missouri General Assembly has spent considerable time this session on a modest Republican income tax cut proposal that will be vetoed by Democrat Gov. Jay Nixon. The prospects for an override appear possible.
The legislation would cut income taxes from 6 percent to 5.5 percent and phase in a 25 percent deduction for business income reported on individual returns. The bill would result in cutting taxes by $620 million when fully implemented, which the governor says would cut deeply into other state programs, including education.
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