Sen. Lincoln Hough had a big week last week during the Senate’s special session.
Hough moved SB 3 and SB 5 be combined into one bill and then moved to perfection. He also moved for the adoption of it.
The bill is a compromise one that has been worked on for months. Voted out of the Appropriations Committee last week, it then found itself on the floor. In the bill, income tax would be reduced to 4.95 percent and adds an additional trigger to get down to 4.8 percent. This is slightly more than the governor’s proposed plan, but it is still relatively close.
Hough also touted the bill’s impact on the lower part of the brackets.
“If you earn $14,000 or less you will not pay income tax in Missouri,” Hough said.
Sen. Andrew Koenig voiced his support for the bill also, saying it “makes the guard rails a little bit higher than it has been in the past.”
But there were also detractors from across the aisle.
Sen. Jill Schupp said she was concerned with the bill and it’s potential effects, noting: “Once we put it into place, there is no turning back.”
And Sen. Greg Razer floated a new idea as well. He suggested taking the money, saving it, investing it, and then writing checks to Missourians,
“Missourians are being sold a bill of goods” Razer said.
But there was also support from across the aisle as well. Sen. John Rizzo, the minority leader, classified the bill as a “masterful” job, and praised Hough’s bill.
“My intention will be to continue funding the things we have prioritized, the workforce development, the education lines in our budget at the same level that we have previously,” Hough said.
Hough also looked towards the future of Missouri, something that has been debated intensely when discussing this tax cut.
“I’ve always said that I think the best way to grow in the economy is to start investing in the next generation of the workforce,” Hough said.
The bill was then sent to the Governmental Accountability and Fiscal Oversight Committee, where it passed out of and on to the Senate floor. The bill was passed, and its ultimate fate will be decided by the House.
The bill will most likely run into some trouble in the House, where its numbers and additional triggers will be hotly debated.