Missouri Senate panel OKs its own tax cut proposal

Source: ThinkStock

JEFFERSON CITY, Mo. (AP) – Even as Missouri’s Republican governor takes to the road to promote his $800 million tax overhaul proposal, a Republican-led Senate panel has endorsed its own tax cut plan worth an estimated $630 million.

The St. Louis Post-Dispatch reports that the 421-page Senate version endorsed Tuesday by the Ways and Means Committee is likely to become the basis for further talks with Democrats and members of the House, who are working on their own tax reduction plan.

Greitens was in St. Joseph Tuesday touting the tax plan he announced in January. He is scheduled to visit Warrensburg on Thursday and Mexico on Friday.

The Senate proposal differs from Greitens’ plan in that it includes a 6-cent increase in the state’s motor fuel tax, phased in over three years.
___
Information from: St. Louis Post-Dispatch