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Missouri Voters to Decide Income Tax Phaseout and Sales Tax Expansion
The proposal would let lawmakers phase out the income tax and widen the sales tax base, while a nonprofit says middle-income families could pay $535 more a year.
- On the ballot later this year, Missouri voters will decide whether to eliminate the individual income tax while authorizing a sales tax expansion, marking the first time a U.S. state legislature has asked voters to eliminate the tax.
- The General Assembly approved the constitutional amendment last week, directing lawmakers to phase out income taxes gradually based on revenue growth over five years.
- Carl Davis, research director at the Institute on Taxation and Economic Policy, estimated a family earning between $49,000 and $78,000 would pay $535 more in taxes annually under the proposal.
- Retired elementary school teacher Sharon Wells worries her overall tax bill could rise if income taxes are replaced with broader sales taxes, particularly since ballot wording avoids the word 'increase.'
- Katherine Loughead, director of state tax projects at the Tax Foundation, stated that voter approval could embolden other states to accelerate their own planned income tax reductions.
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26 Articles
Letter to the editor: Missouri sales tax plan deserves a flat no
Marvin Sands, Independence To the editor: The Missouri General Assembly recently passed one of the worst pieces of legislation in its entire history. Both the… Login to continue reading Login Sign up for complimentary access Sign Up Now Close The post Letter to the editor: Missouri sales tax plan deserves a flat no appeared first on The Examiner.
Coverage Details
Total News Sources26
Leaning Left10Leaning Right3Center12Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 40%
C 48%
12%
Factuality
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