Missouri House sends tax cut proposal to Senate

(The Center Square) – The Missouri House of Representatives has passed a tax cut bill, sending it to the state Senate for consideration.

House Bills 816 and 660, which were combined and amended prior to passage, would lower the top individual tax rate from 4.95% to 4.5%. It would also lower the corporate tax rate from 4% to 2%.

The measure passed the House on Thursday in a 111 to 48 vote.

The tax cuts were opposed by minority Democrats in the chamber.

Speaking to reporters, Democratic House Minority Leader Rep. Crystal Quade said this “may be the largest, most irresponsible thing” legislators could be doing at the moment.

“Just a few days ago, Republicans were on the floor saying that we can’t afford tax cuts for feminine hygiene products or tax cuts for food or things that help everyday Missourians, but instead we’re going to try to make Missouri the lowest in the country for corporate tax cuts,” she said. “We are currently second in the country, and I believe it’s only Texas who goes further than us.”

Patrick Ishmael, director of government accountability for the Show Me Institute, wrote in a blog post Thursday in support of the proposal.

“Income taxes are the most destructive taxes from the perspective of growth, and among them, corporate income taxes are the most destructive of them all,” he said. “Reducing both with the intent of eventual elimination is sound policy.”

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