JEFFERSON CITY, Mo. (KMOX) - Income tax payers would get a $500 tax cut under a measure that gained first approval in Missouri's House, Wednesday.
The state income tax cut would be financed by $1 billion of federal economic recovery money.
"This is an opportunity to offset some of the tax burden for those state income tax payers, at a time where I think they can use that money much better than state government can," said House budget committee chair Cody Smith (R-Carthage).
Related
But, on the other side, Democrats argued that nearly one-third of Missourians would not get anything, because they don't pay income taxes. Other Democrats argued the federal money would be better spent on state services like education.
The measure requires a final House vote to be sent to the Senate.
Copyright 2022 Audacy (KMOX) All Rights Reserved