Governor Rick Perry today congratulated the Missouri legislature – and all working families in the Show-Me State – on the successful veto override of Senate Bill 509. The bill offers the first broad-based income-tax cut in nearly a century, offering a significant economic boost to individuals, families, and small businesses.
“Last year, Missourians didn’t approve of Governor Nixon’s excuses to keep on taxing and spending. This year, over two million taxpayer families won a crucial victory that not even the Governor himself can repeal,” said Governor Perry. “Congratulations to America’s hard-working small businesses.”
Governor Perry, who last summer visited Missouri in support of tax reform, commends legislators for standing up to the governor’s empty scare tactics and supporting a bill that is fiscally responsible and carefully crafted to ensure the state does not experience a budget shortfall; the tax cut provided by SB509 will be delayed until 2017, when the governor’s own projections show that the state’s education foundation formula will be fully funded. Furthermore, the tax breaks will not go into effect unless $150 million in additional annual funding comes into state revenue, which is more than the tax cuts themselves.
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