Missouri House Budget Committee OKs Tax Break | Missouri News

JEFFERSON CITY, Mo. (AP) — Missouri residents who file income taxes would be eligible for tax relief under a Republican proposal advanced Tuesday.

The House Budget Committee approved the measure, which is now heading to the House floor for consideration.

The proposal provides a $1 billion budget for tax relief equal to what taxpayers owe the state in income taxes. Tax relief is capped at $500 for individuals or up to $1,000 for married couples filing jointly.

In practice, if an individual owes $1 in state income tax, they would be refunded $1. If a person owes $600 in income tax, they will be reimbursed $500.

Democrats have proposed setting aside $100 million to give one-time $1,000 checks to poor families who have struggled with housing or food insecurity. This proposal was rejected.

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Democratic critics argued Tuesday that the tax relief will not help the state’s poorest.

“We’d rather give $500 or $1,000 to someone who had $10 million in the bank and won’t even notice it, as opposed to someone who will spend every penny they get back,” said the Democratic Rep. Peter Merideth.

Republican supporters said the measure was intended to return some of the state’s excess revenue to taxpayers.

“It’s not about the poor, the financially challenged, or the rich among us…” Republican Rep. Doug Richey said. pay, minus the amount that the State has already returned to them.

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