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income tax cuts

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Tax preparers are advising Missouri residents to double check their income tax withholdings, because the state has what it calls a “longstanding inaccurate calculation.”

Essentially, some Missouri taxpayers may see a smaller refund or owe more on their 2018 tax bill than in previous years.

Despite an income downturn in July, Missouri budget director Dan Haug says the state is starting its new fiscal year in stronger shape than it has seen in years.

That’s because the fiscal year that ended June 30 saw a last-minute surplus of $350 million that is providing an income cushion.

So unlike his recent predecessors, Gov. Mike Parson hasn’t had  to impose additional spending cuts.

Luke X. Martin / KCUR 89.3

Segment 1: Tenants suffering domestic violence will be able to break their rental agreements without penalty.

Philip Taylor / Creative Commons-Flickr

Missouri Gov. Mike Parson signed legislation Thursday that will cut the state's top individual income tax rate to 5.4 percent next year.

Luke X. Martin / KCUR 89.3 / Senator Claire McCaskill / Flickr - CC

Segment 1: Attorney General Josh Hawley on the resignation of Gov. Greitens and preparing for midterm elections.

As Gov. Eric Greitens gets set to resign this afternoon, Missouri's attorney general maintains he did everything within his jurisdiction to investigate the governor’s alleged indiscretions. In an interview recorded on Thursday, Josh Hawley defended his conduct in the Greitens saga, and explained why he thinks Sen. Claire McCaskill has lost touch with Missouri voters.

Luke X. Martin / KCUR 89.3 file photo

After the resignation of Missouri Gov. Eric Greitens on Tuesday, months of turmoil in Jefferson City might finally be coming to an end. And Republicans such as Attorney General Josh Hawley are eager to shift focus to ousting the state's top Democrat in this year's midterm elections.

On Thursday afternoon, Hawley sat down with KCUR's Up To Date to discuss the historic resignation, his role in prosecuting the governor's alleged misdeeds, and, especially, the record of U.S. Sen. Claire McCaskill.

file photo / Kansas News Service

In an election year with a state Supreme Court ruling hanging over their heads, Kansas lawmakers wrestled over school spending, taxes and guns.

They fought among themselves and often split ways from legislators they’d chosen as leaders.

In the end, they decided not to throw a tax cut to voters. It would have partly reversed tough political choices they made a year before to salvage state government’s troubled financial ledger.

Flickr

The Kansas House killed a tax cut bill on its way out the door Friday, ending the 2018 session with yet another signal that this isn’t the same conservative-dominated body of just two years ago.

This is the Legislature that voted last year to expand Medicaid and end then-Gov. Sam Brownback’s signature 2012 tax cuts with a two-year, $1.2 billion tax hike.

Stephen Koranda / Kansas News Service

Kansas lawmakers voted to inject money into state services, pensions and higher education just hours before debating legislation to send millions of dollars back to taxpayers.

file / Creative Commons-Flickr

House and Senate negotiators struck a tentative deal Wednesday to prevent changes in federal tax law from ratcheting up state taxes for Kansans.

The Senate wanted broader tax cuts in the same bill, but couldn’t coax the House team to go along.

Rep. Steve Johnson, who chairs the House tax committee, said his chamber didn’t want to go beyond addressing the federal impact in ways that would produce deeper cuts to state government revenue.

“It’s all of the tax cuts and these targeted tax cuts that have given us heartburn,” he said.

file photo / Kansas News Service

Changes in federal tax law could actually cost some Kansans more in state taxes.

Kansas lawmakers might turn down that revenue windfall and add an election year tax cut instead. A bill they’re backing would cost roughly the same amount as a court-triggered boost to school spending.

Shane Adams / Flcikr - CC

Segment 1: Adidas and KU have been implicated in an FBI investigation of collegiate basketball.

Elijah Haahr
Jason Rosenbaum / St. Louis Public Radio

Ever since Congress passed major changes to U.S. tax policy, Missouri leaders have been mulling their own changes to the state tax code that might leave your tax bill looking very different next year. We talk with House Speaker Pro Tem Elijah Haahr, a Republican representative from Springfield, about how his 429-page plan can call itself "revenue-neutral."

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Our panel of financial planners explain healthy spending routines and investing in stocks

As we inch closer to the April 15 deadline, you may be putting off filing your tax returns for as long as possible. Our Smart Money experts advise otherwise. Today, they outlined what you can do to leave fiscal irresponsibility in your past, and how you can invest wisely in the stock market.

Courtesy of U.S Coast Guard Academy/U.S. Congress

This week, Missouri Gov. Eric Greitens introduced what he considers to be "the boldest state tax reform in the nation," looking to reduce the income and corporate tax rates, among other things.

The Republican may have learned a thing or two in putting together his plan from almost-former Gov. Sam Brownback in neighboring Kansas, where legislators almost completely rolled back the aggressive 2012 tax cuts that left Kansas cash-strapped.

KCUR's Kyle Palmer spoke with fellow reporter Jim McLean, who covers the Kansas Statehouse, to break down where the proposed Missouri plan intersects and differs from the Kansas tax experiement. 

Missouri Gov. Eric Greitens is unveiling more details of his tax overhaul, which seeks to pair income and business tax cuts with paring down some popular tax breaks.

Greitens’ proposal would cut Missouri's income tax to 5.3 percent. Legislation that was passed in 2014 is already gradually reducing the state income tax to 5.5 percent. The proposal would also lower the corporate income tax from 6.25 percent to 4.25 percent. And it would institute an earned income tax credit for certain types of workers.

One busy week leads to another as Missouri lawmakers wrestle with tax credits, a major ethics bill, and next year’s state budget.

The House this week sent a proposed lobbyist gift ban to the Senate, which is conducting a public hearing on it next week. The bill has died two years in a row over concerns that accepting a piece of gum or a slice of pizza could become illegal. But Senate Majority Floor Leader Mike Kehoe, R-Jefferson City, said he’s committed to crafting a gift ban that the full Senate can support.

Missouri Gov. Eric Greitens has released portions of his plan to cut taxes in Missouri.

Greitens said in a written statement Thursday afternoon that most of the details of his proposal will be laid out “in the coming weeks.” But the Republican governor has listed several goals, or “principles,” that make up the plan.

President Donald Trump made grand promises Wednesday that a pending federal tax overhaul will bring jobs back to "Main Street America'' by revamping a "dysfunctional'' tax system and providing tax cuts for working families.

He told a packed audience at the St. Charles Convention Center that only Democrats like Missouri's U.S. Sen. Claire McCaskill stood in the way of a more prosperous future.  The president portrayed McCaskill, a former prosecutor, as a tax-cut opponent who is "weak on crime,  weak on the border, weak on the military."

Frank Morris / NPR and KCUR

Missouri Senator Claire McCaskill says she welcomes Republican Josh Hawley to the U.S. Senate race, but the incumbent Democrat has a lot of questions for Hawley.

The GOP primary for Senate isn’t until next year, but Senator McCaskill, a Democrat, is taking aim at Missouri Attorney General Josh Hawley, painting Hawley as a pawn of the unpopular Senate Majority Leader, Mitch McConnell.

Farmers Unfazed By End Of Kansas Income Tax Exemption

Jul 17, 2017
Bryan Thompson / Kansas News Service

Kansas Gov. Sam Brownback’s prized income tax exemption for businesses is gone.

Over the governor’s veto, in June lawmakers raised income tax rates and repealed the exemption that had benefited roughly 330,000 business owners, including about 53,000 farmers.

Matt Hodapp / KCUR 89.3

For a while, it seemed as though it would be a long time before Kansas lawmakers came up with a tax plan that could pass. Just when it seemed the impasse was at its worst, the Women's Caucus stepped up with a plan that led to a compromise.

Guests:

Conservative Republicans have joined with moderates and Democrats to override Gov. Sam Brownback's veto of a $1.2 billion tax increase. This brings to a close many of the tax cuts pushed by the Brownback in 2012.  

Subscribe to Statehouse Blend Kansas, and stay up to date with the latest news from the Kansas Legislature: iTunesGoogle Play, and on the NPR One app.

Courtesy Office of Gov. Sam Brownback

Kansas lawmakers are gearing up for an attempt to override Gov. Sam Brownback’s veto of a tax increase. The House and Senate approved the plan overnight Monday and Brownback vetoed it Tuesday.

In a statement, Brownback said Kansas has a “pro-growth” tax policy and the bill would be a step backward on that front.

Kansas lawmakers have gotten down to business, passing a school funding bill that adds nearly $300 million over two years for public education and a $1.2 billion tax plan. But just minutes after the vote, Gov. Sam Brownback said he would veto the package.

File Photo / Kansas News Service

Kansas lawmakers marked the fifth anniversary of Gov. Sam Brownback’s signature income tax cuts becoming law by rejecting a bill that would have largely repealed them.

The bill defeated Monday night by the House was similar to a measure rejected May 10 by the Senate. Both would have raised more than $1 billion over two years to cover a projected budget shortfall of $900 million by increasing income tax rates and repealing a controversial exemption given to more than 330,000 business owners and farmers. 

Sam Zeff

The Kansas Legislature continues to struggle to come up with a tax plan and a school funding formula. Rep. Melissa Rooker, a Republican from Fairway, says finding a consensus is complicated because there are so many factions within the Republican Party.

Matt Hodapp / 89.3 KCUR

Kansas lawmakers had high hopes last week that a Senate tax bill would pass, and they could get on with approving a budget. But, two Democrats joined with a number of Republicans to vote down the legislation. The Democrats said it wouldn't generate enough revenue. On this week’s podcast, KCUR’s Jim McLean and Sam Zeff talk with Republican Rep. Russ Jennings, who says that vote could prolong the session. 

Matt Hodapp / KCUR 89.3

Kansas lawmakers still need to come up with a tax plan, budget and school funding formula before the end of this legislative session. These two senators say they're tired of waiting to vote on it all, but say they'll work as long as needed to pass legislation they think is best for Kansas.

Susie Fagan / KCUR 89.3

Kansas lawmakers are back from spring break with nothing but big issues to deal with before the end of the session: taxes, budget and school finance. When will it all get done? Two panels of legislators sat down with us live in the Capitol to work through the issues as we head toward the end of this legislative session.

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