Missouri House votes to trim business taxes

May 4, 2012

Missouri House members approved legislation trimming taxes on businesses.

The measure calls for gradually reducing by half the taxes businesses would owe when Missouri tax collections hit certain levels.

Sponsoring House member Jerry Nolte, a Republican from Gladstone, says Kansas has lowered taxes on businesses and that Missouri must compete against its neighbors for jobs. He says lower taxes would help Missouri recruit businesses and encourage job growth.

Opponents voiced concerns about being able to fund necessary programs while further cutting state revenue.

The House passed the bill Thursday on a vote of 97-46 and sent it to the Senate.