A proposal to cut taxes on Social Security benefits will be proposed this legislative session. Whether it passes is very much up in the air. House Speaker Rod Jetton (R-Marble Hill) says it’s time for Missouri to eliminate its income tax on Social Security benefits. It is one of Jetton’s top priorities for the legislative session. Jetton believes the state budget is so robust, Missouri could see a $300-to-500 million surplus at the end of the fiscal year June 30th. He estimates that elimination of the tax on Social Security benefits would cost the state around $100 million. The top Democrat in the House, Representative Jeff Harris (D-Columbia) has been lukewarm to Jetton’s proposal at best and suspects he’s not the only one. Harris questions whether Republican senators share Jetton’s rosy budget outlook. Harris says Democrats aren’t opposed to tax relief. Democrats, in the past, have suggested making college tuition tax deductible. He says he wants to see details about Jetton’s proposal before endorsing it.
