JEFFERSON CITY, MO (KMOX) - Governor Mike Parson signed a new tax cut Wednesday, which has been deemed the "largest income tax cut in Missouri history."
Parson said the tax cuts mean more money for Missourians to spend, invest and save. Opponents of the tax cut argue that the income tax cut will mean a cut in social services, and benefits rich Missourians rather than working class people.
The cut took income tax down from 5.3% to 4.95%.
The Governor also singed a bill into law that extends agriculture tax credits for at least six years. That bill, along with the tax cut, are two of the main reasons Parson called for a special session.
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