Talent Not Surprised By Missouri’s Good Economic Showing

Since Missouri’s tax system is tied to the federal one, a year ago, there were worries the federal tax cuts would end up cutting into the state revenues. But that didn’t happen. And it’s no surprise to Missouri’s junior U.S. Senator. With state revenues up 6.7 percent for the fiscal year-to-date, Revenue Director Carol Fischer says the federal tax cuts did not end up costing Missouri tax revenues by driving up the amount refunded to taxpayers – the $95-Million the federal government gave the state to make up for any lost revenues due to the federal tax cuts is just money in the state’s pocket. But Senator Jim Talent takes exception with the notion that the money was sent to the states to cover any loss the federal tax cuts might cause. And Talent believes the tax cuts pushed through by President Bush a year ago will continue to grow the economy.