Missouri’s governor is scheduled to sign tax cut legislation into law Thursday in Springfield.
Missouri House Speaker Pro Tem Elijah Haahr, R-Springfield, testifies before the House Ways and Means Committee on March 5, 2018 (file photo courtesy of Tim Bommel at House Communications)
Governor Mike Parson (R) plans to sign the bill at 12:30 Thursday afternoon at Hartman and Company Shop in Springfield.
The Hartman and Company Shop website describes the company as “heavy civil construction specialists.”
House Speaker Pro Tem Elijah Haahr, R-Springfield, is the bill sponsor.
Under the bill, Missouri’s highest personal income tax rate will be reduced from 5.9 to 5.5 percent, with “each cut becoming effective if net general revenue collections meet a certain trigger.”
Haahr’s original bill called for a reduction to five percent.
Tax policy was a top 2018 priority for Missouri House Republicans.
House Speaker Todd Richardson, R-Poplar Bluff, told the Capitol Press Corps in January that he wanted to make Missouri the most competitive economic environment anywhere in the nation.
Haahr’s bill will become effective on January 1.
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