Yesterday, August 22, Governor Parson announced that he called for a special session of Congress. This session will make historic tax cuts for every income bracket in Missouri.
Background
This is not a new idea to Parson. Back in 2020, Congress was finishing off large tax cuts for Missouri citizens when COVID hit. With emergency preparations taking place and a fear of the unknown, these tax cuts never materialized. Then back in July of this year, Parson vetoed a bill that would give one-time rebates to certain brackets of Missouri citizens. A rebate is temporary; a tax cut is permanent.
Yesterday, Governor Parson announced,
Today, I believe we have a plan…providing lasting tax relief to every taxpaying Missourian [1].
Policy Plan
The proposal will reduce the individual’s tax rate, increase standard deductions, and simplify the tax code, Parson said,
Our tax cut means that every taxpaying Missourian, no matter their background, income, or job description, will see a reduction in their tax liability [2].
Parson’s goal is to put
more of Missourians’ hard-earned dollars back in their pockets [3].
Tax Credits
The special session will also discuss several agriculture tax credit programs to help farmers. Each program will last six years.
Session Date
The General Assembly will meet in Jefferson City on September 6, 2022, at noon to begin this legislation.
Notes:
- ^https://governor.mo.gov/press-releases/archive/governor-parson-issues-special-session-call-historic-tax-cut-critical (go back ↩)
- ^https://governor.mo.gov/press-releases/archive/governor-parson-issues-special-session-call-historic-tax-cut-critical (go back ↩)
- ^https://governor.mo.gov/press-releases/archive/governor-parson-issues-special-session-call-historic-tax-cut-critical (go back ↩)
