Missouri special session for cutting state income taxes postponed

ST. LOUIS, Mo. (KMOV) - Missouri lawmakers will not be getting together for a slated special session Tuesday, which was set to discuss cutting state income taxes.

Legislators said they needed more time to discuss Governor Parson’s income tax cut proposal. They also said they are looking at several ideas right now and hope to meet again next week to finalize a tax cut plan, that lawmakers can get behind.

The senate president suggested tax cuts could grow from the governor’s original proposal, to include a reduction in taxes for businesses. The governor is aiming for 700 million dollars in tax cuts which would reduce state income taxes from their current 5.3 percent to 4.8 percent. This could save Missourians hundreds of dollars per year.

Parson also wants lawmakers to extend the agricultural tax credit program.

We expect Parson to continue his discussions with legislative leaders this week on the plan to cut income taxes.

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