JEFFERSON CITY – The Missouri Chamber of Commerce and Industry hosted a stop of the Grow Missouri Coalition Grass Roots Tour today. The Jefferson City stop was designed to reach out to Mid-Missouri reporters to clarify the business community’s position on House Bill 253.
“Just look around at what is happening in Missouri’s backyard and beyond,” said Daniel P. Mehan, President of the Missouri Chamber of Commerce and Industry. “If we want to remain competitive, if we want to grow state priorities like education and roads and public safety, we must invest in our job creators. That’s what other states are doing.”
Mehan pointed to tax reduction efforts being taken by six of Missouri’s eight surrounding states:
• In 2013, Kansas passed another tax cut, taking the Kansas income tax rates down to 3.9 percent and 2.3 percent. Kansas started with a top rate 6.45 percent when Kansas Gov. Sam Brownback began his cuts last year.
• From 2005-2011, Oklahoma went from a 7 percent income tax rate to 5.25 percent. This year, Gov. Mary Fallin signed another tax cut into law that will take the Oklahoma rate down to 4.85 percent by 2016.
• In 2013, Iowa Gov. Terry Branstad signed the biggest tax cut in state’s history and has announced his goal to return next year for more cuts.
• Nebraska Gov. Dave Heineman signed three tax cuts into law in 2013. While his priority of eliminating the income tax didn’t make it through, he remains committed to the issue.
• Legislative leaders in Arkansas are pushing income tax reform.
• Tennessee has never taxed individual income; however, the Tennessee Legislature is referring a constitutional amendment to permanently ban taxation in income.
• Although not a neighboring state, in 2013, Indiana Gov. Mike Pence signed the largest tax cut in Indiana history into law.
Other states that have passed or are considering similar proposals include Ohio, North Carolina, Louisiana, Georgia and Maine.
“Meanwhile, our governor is holding our education community hostage and spreading misinformation about this bill. If we are successful in our campaign, Missouri will see – at a minimum – $1 billion in additional revenue over ten years. To claim that this will cause shortfalls is untrue. It’s quite the opposite: Missouri can afford to give taxpayers a break.”
The Missouri Chamber of Commerce and Industry (www.mochamber.com) was founded in 1923 and is the largest business organization in Missouri, representing almost 3,000 employers, providing more than 425,000 jobs for Missourians.