Missouri's income tax repeal would cost state $4.2 billion in its first year, under Senate plan
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A proposal to eliminate Missouri's income tax would cost the state $4.2 billion in its first year, according to Senate revisions. The bill, which passed a Senate committee on a party-line vote, would place a constitutional amendment on the ballot to increase and expand sales taxes to replace the income tax.
The Missouri Senate revised a proposal to eliminate the state's income tax, which would cost $4.2 billion in its first year. The bill would place a constitutional amendment on the ballot to increase and expand sales taxes. The proposal passed a Senate committee on a 6-3 party-line vote. The first-year cost is higher than initially estimated due to a 'drafting error' that would reduce the top income tax rate immediately. The error would be fixed before the bill reaches the full Senate. The proposal is a top priority for Republican Gov. Mike Kehoe, but has generated opposition from various advocacy groups.
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