JEFFERSON CITY The fate of a $620 million Republican tax cut proposal appears to hinge on Rep. Keith English, a freshman Democrat and union electrician from Florissant.

English said Monday that he will vote to override the bills veto by Missouri Gov. Jay Nixon, a fellow Democrat.

In a written statement, English said he was elected to exercise an independent judgment on every bill. ... Missouri small businesses and every worker in the state will benefit from the first broad-based tax relief in nearly 100 years.

As long as all 108 House Republicans remain on board, English would provide the key vote needed for a two-thirds majority, the threshold for an override to succeed. The Senate voted for the override Monday on a straight party-line vote of 23-8. The House could vote today.

The bill would cut the states top personal income tax rate to 5.5 percent from 6 percent and provide a new 25 percent deduction for business income reported on individual returns.

The tax cuts would begin in 2017, so long as state general revenue was rising by at least $150 million a year compared to the high-water mark of the previous three years.

Supporters said the tax cut would return surplus money to taxpayers and foster economic growth. They contend that delaying the first step of the cut until 2017 protects education because by then, the basic aid formula for public schools is slated to be fully funded.

I believe this is a well-balanced approach to move forward, said the sponsor, Sen. Will Kraus, R-Lees Summit.

Opponents said the bill would favor the wealthy, threaten the states AAA bond rating and make it harder to fund public schools and highway needs.

Critics noted the Legislature also is advancing a sales tax increase for transportation.

Continued here:
Florissant legislator may hold key to income tax cut override vote

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May 6, 2014 at 6:06 am by Mr HomeBuilder
Category: Electrician General