The legislature has sent Governor Jay Nixon (D) a proposed $620-million a year cut to income taxes, and Republicans are considering whether enough votes to override a veto are in reach.
House Speaker Tim Jones signs SB 509, the proposed $620-million a year tax cut proposal. (photo courtesy; Tim Bommel, Missouri House Communications)
Nixon has 15 days to act on the bill (SB 509). He could sign it, allow it to become law with no action, or he could veto it as many Republicans anticipate he will.
Nixon called an evening media conference shortly after the House vote and didn’t say he would veto the bill, but hinted at it.
“On its face,” Nixon told reporters, “this year’s reckless fiscal experiment looks an awful lot like last year’s reckless fiscal experiment.”
Nixon vetoed a tax cut proposal last year and 15 House Republicans voted with Democrats to sustain that veto.
104 lawmakers voted for the tax cut proposal Wednesday, with one Democrat siding with Republicans. 109 votes would be needed to overturn a veto and 7 lawmakers were not present for the vote.
Backers say the legislation would let Missourians keep more of their paychecks and that would lead to a stronger economy. Nixon and opponents say the reduction in state revenue threatens state programs and services, particularly education.
The timing of the passage means that if Nixon vetoes it, lawmakers could have a chance to attempt a veto override before the end of the session.