Senate committee proposes slash in Missouri's income tax rates
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Senate committee proposes slash in Missouri's income tax rates

Date: February 25, 2013
By: Nick Thompson
State Capitol Bureau
Links: SB 26, SB 11, SB 31

Intro: 
A Missouri Senate committee has passed a proposal to slash some of the nation's lowest income tax rates even further.
RunTime:  0:44
OutCue:  SOC

Wrap: A Senate committee has voted to slash individual, corporate and small business income tax rates in a bill to compete with Kansas' supply side experiment.  

Republican Kansas City area Senator Will Kraus says the bill is sure to get marked up further, but he's sure the GOP can accomplish this major legislative priority.

Actuality:  KRAUSTX1.WAV
Run Time:  00:10
Description: "I know we're committed to getting a vote on the floor. So will this be the bill, exactly the way it is today, obvioulsy not. We're willing to work across the aisle to take amendments and understand where they want to be."

Jackson County Democratic Senator Paul LeVota says a state with even lower rates is not where he wants to be.

According to fiscal projections, the proposed tax cuts would create a $1.1 billion budget hole in 2014.

Reporting from the state capitol, I'm Nick Thompson.