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Missouri GOP Leaders Concerned About Tax Overhaul Plan - KOAM TV 7

Missouri GOP Leaders Concerned About Tax Overhaul Plan

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      Missouri's Republican Senate leaders are expressing reservations about a massive tax overhaul given initial approval by the chamber.
    The legislation would cut the state's individual and corporate income tax rates but would reduce or eliminate state tax deductions that can currently be taken for paying federal taxes. It also would raise the state's motor fuel taxes.
    Senate President Pro Tem Ron Richard of Joplin said Thursday that he was among those voting "no" when the measure was given a relatively quick nod of approval a day earlier. 
    Richard says he's concerned the plan would raise taxes on some while reducing them for others, and he notes that Missouri already is implementing previously approved tax cuts.
    Senate Majority Leader Mike Kehoe also expressed concern about the potential financial impact on the state.
    
 

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