Friday, April 06, 2018

Warrensburg Republican: Senate Bill 617 includes largest tax cut in Missouri history

(From Sen. Denny Hoskins, R-Warrensburg)

During my time in the Missouri General Assembly, my colleagues and I have been working to find a reasonable approach to reforming our state’s tax policies. It has been an uphill battle until recently, when the Missouri Senate granted initial approval to Senate Bill 617, a proposal that revises and reforms Missouri’s antiquated tax system. If passed, the bill would include the largest tax cut in the history of Missouri.

The proposal intends to reduce the income tax burden on Missourians by:

· Reducing the corporate income tax rate from 6.25 percent to 4.25 percent,

· Lowering the individual income tax rate to 5.25 percent,

· Gradually increasing the Missouri fuel tax from 17 cents per gallon to 23 cents per gallon. The only states with lower fuel taxes are Alaska and Oklahoma,

· Creates the necessary framework to authorize the state of Missouri to enter into the Streamline Sales and Use Tax Agreement (SSUTA) which will level the playing field for Missouri based brick and mortar businesses,

· Implements the largest funding enhancement for road and bridge repairs since the initial passage of the motor fuel tax in 1994.

The legislation is known as the Missouri Economic Relief Act, a revenue-neutral proposal that adjusts exemptions for individuals and businesses. This proposal reflects recent changes made to the federal tax code and provides an opportunity to reduce the tax burden on hard-working Missourians. I believe it’s time we find ways to put money back into the pockets of individuals and businesses across the state. I look forward to working alongside my colleagues to help advance this bill to the Missouri House of Representatives for further discussion and debate.


Anonymous said...

How stupid are we? We get 0.75%, corporate gets 2% and we get a 33% increase in gas tax. Jeez, who does this math up in Jeff City? More giveaways to corporate and more to be picked up by the people making maybe 10-15% of big wigs in these corporations. MODOT is riddled with waste and poor use of employees and now they get more money to squander. Look at the highways and the amount of trash on them. Part of blame is MODOT and most blame goes to our knuckle dragging citizens who are too lazy to walk to trash can or secure it in their pickups. Visitors to our state get a real idea of who lives here by the pride they lack in their environment.

Anonymous said...

Here we go. Cut the big rich boy's taxes, give the little guy a pittance and raise gas tax 6 cents a gallon. You morons are just like your effing moron (best words Rex Tillerson ever uttered) daddy. Trumpski will be charging toll fees on all highways shortly to pay for the wall that Mexico was supposed to pay for.

Anonymous said...

Great thinking! Big donors will love this. Shift the burden to those least able to afford it and remove a reason for neighboring states residents to come buy gas. Question: Who pays for the MO National Guard when they are sent to guard the border?

Anonymous said...

As Claire McCaskill said- Scraps.

Anonymous said...

Who pays for the illegals healthcare, education and food if the guard isn't sent?

Anonymous said...

8:03 -
Since ICE is targeting places of employment to find illegals, it follows that those folks are working, paying employment taxes, buying food, paying rent, and paying sales tax (including gasoline).

Anonymous said...

Does it? Or if their employers are aware that they are illegal, are the taxes not paid? Even so, by most accounts these are low paying jobs so the taxes they would theoretically pay just pass through the system right back to them I. The form of Medicaid and food stamps.

Anonymous said...

Kind of makes you wonder why do they hire illegals in the first place. Especially since that is supposed to be illegal. Also makes you wonder why are these such low paying jobs? The corporations are making big profits and now that they don't have to pay much in tax, maybe they will return some of that money to the people that work for them. Uh, yeah, right. After they pay their upper echelon big bonuses and buy back stock to make their share holders comfy. Oh....sorry, nothing left and by the way, your insurance premiums are going up because, well, insurance companies and hospitals are charging more because somebody has to pay for those that don't want to pay for insurance.