**Breaking News** MO legislature overrides GovJay Nixons veto, enacts first income tax rate cut in almost century. Economists at MU estimated the tax cut will eventually reduce state revenues by $620 million annually. Nixon described it as an unfair, unaffordable and dangerous scheme that would defund our schools, weaken our economy, and destabilize the strong foundation of fiscal discipline in MO. Last week, Moodys Investors Service downgraded Kansas credit rating, noting its sluggish economic recovery compared with other states. Kansas revenues declined in April. Among other things, Moodys said the income tax cuts were putting pressure on the budget and creating risk for the states financial future. columbiamissourian/a/174368/missouri-lawmakers-override-veto-enact-tax-cut/
Posted on: Tue, 06 May 2014 16:40:44 +0000
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