Republican Senator Will Kraus of Lee’s Summit said from the onset of a failed veto last year that he would continue to push for tax reform within Missouri.
Consider Kraus’ and other Missouri Republicans’ mission complete.
In a 109-46 vote, the Missouri House of Representatives voted May 6 to override Gov. Jay Nixon’s veto of a $620 million income tax cut plan spearheaded by Kraus and other Republicans.
The Missouri Senate voted May 5 to override Nixon’s veto of Senate Bill 509 on a straight party-line vote of 23-8.
Kraus released a statement May 5 applauding the work of the Senate to override the governor’s veto and was hopeful that the House would follow the Senate’s lead and override the veto of SB 509. It did just that a day later.
A statement released from Kraus’ office May 6 came after the Journal went to press.
“I am pleased that the Senate has seen the value in enacting the first tax rate cut for individuals in almost 100 years,” Kraus said May 5. “Senate Bill 509 is a carefully crafted, broad-based tax cut that will affect every Missourian who files a personal tax return. With a two-year delay giving the General Assembly time to fully fund education, and with triggers that make sure the cuts will stop if there is less revenue, SB 509 protects not only Missouri taxpayers, but those who rely on state funding.”
The legislation gradually cuts the top individual income tax rate to 5.5 percent from the current 6 percent and phases in a 25 percent deduction for business income reported on personal tax returns.
The tax cuts wouldn’t kick in until 2017 and the soonest they could fully take effect would be 2022.
Each incremental cut would happen only if state revenues grew at least $150 million over the high mark of the previous three years.
According to the Kansas City Star, Nixon vetoed a similar tax cut last year, and with the help of a handful of Republicans the House failed to garner enough support for an override.
This year, however, a scaled back tax cut won the support of all 108 Republican House members and one Democrat – Rep. Keith English of St. Louis County. That gave them the exact number of votes needed for an override, The Star reported.