Photo courtesy of Missouri House of Representatives

Governor Mike Parson Releases Statement Regarding Newly Approved Income Tax Cut

Missouri Governor Mike Parson voiced his excitement after the Missouri General Assembly passed income tax legislation.

The General Assembly approved a tax cut of nearly one percent, from 5.3% to nearly 4.5% after some additional cuts are made.

The bill passed in an overwhelming 98-32 vote on the House floor.

With the legislations approval, it will now head to the desk of Governor Parson to be signed in law.

An official statement from Governor Parson can be found below:

 “We are thrilled that the General Assembly has answered our call to cut Missourians’ taxes and return some of their hard-earned dollars. We called this special session to pass and extend critical support to our agriculture industry and reduce Missourians’ income tax burden, and that’s exactly what we are accomplishing.”

“Today’s action will provide real relief to taxpaying Missourians. Relief that is even more critical now as Missouri families face rising grocery bills, high gas prices, and record inflation. This bill means our administration will have cut Missourians’ income tax rate by almost a full percentage point or a nearly 15 percent decrease. Next week, we look forward to progress being made on the agriculture bill, so we can sign both pieces of legislation into law.”