JEFFERSON CITY, Mo. (AP) — Missouri Gov. Mike Parson is calling lawmakers back to work Sept. 6 for a special session to cut income taxes.
Parson on Monday said he wants lawmakers to cut the top income tax rate from 5.3% to 4.8%.
The Republican’s office estimates the cut will amount to about $700 million less in state revenues.
Every taxpaying Missourian, no matter their background, income, or job description will see a reduction in their tax liability. Real lasting relief that will actually make a difference, both now and in the years to come. https://t.co/ZOv3TggEpH pic.twitter.com/eeR0fEgSrK
— Governor Mike Parson (@GovParsonMO) August 22, 2022
Parson says Missouri has been bringing in more revenue and should give money back to taxpayers.
He also wants lawmakers to extend several tax credit programs to help farmers and ranchers.
A top House Democrat warned that the cuts are financially irresponsible.
The governor’s special session is an election season ploy to change the subject after suddenly discovering that eliminating Missourians’ reproductive rights isn’t the winning issue Republicans thought it would be. It is also a textbook example of fiscal irresponsibility.
1/5 pic.twitter.com/djsf8ShykR
— Crystal Quade (@crystal_quade) August 22, 2022