income tax cuts

The Republican-led legislature is considering changing or repealing some voter-approved measures, including abortion legalization and the minimum wage hike. Lawmakers also need to pass a budget, which may look much smaller than previous years.

One bill would set the state income tax to a flat rate of 4.7%, with the ability to reduce it to 3.7% over the next decade, and would also reduce the corporate income tax rate.

Kehoe highlighted a number of new budget items that seek to reduce the state’s crime rate, including a new state crime lab and more money for local departments. He also reiterated his support for a state board overseeing St. Louis Police, taking away local control from the city.

Kehoe said one of his priorities for cutting taxes this year is to exempt capital gains — the profits from sale of investments like a business or stocks. But doing that would reduce Missouri's revenue by about $300 million annually.

More than 1,000 bills have been introduced in the Missouri General Assembly this session, but only a few will get passed and signed by Gov. Mike Kehoe. Housing, taxes and right-to-work proposals are all on the table.

The Republican senator expects Republicans will work on overhauling the country’s tax code and pare down governmental regulations priorities. He cast doubt that lawmakers will have enough support to curtail abortion access nationwide.

Democratic Gov. Laura Kelly said she will sign the bipartisan compromise to cut Kansas income and property taxes, as well as eliminate taxes on Social Security benefits.

Ahead of Tuesday's special legislative session, the deal between Democratic Gov. Laura Kelly and the GOP leaders of the Kansas Senate and House would collapse the personal income tax structure to a two-rate system. Kelly previously vetoed a single-tier flat tax plan, calling it too expensive.

Lawmakers will return to try to reach a tax-cutting agreement with Gov. Laura Kelly. Special sessions have become increasingly more common in Kansas in recent years.

In a new memoir, Overland Park resident Chelan David recounts visiting all 50 states in the U.S. with his daughters, a journey of bonding and self-discovery. Plus: Kansas Gov. Laura Kelly says if lawmakers can’t come up with a tax-cut plan the state can afford, she’ll keep calling more special sessions.

The bill sponsored by Missouri Rep. Travis Smith, R-Dora, would cut the 4% corporate tax rate down to 3% next year, and make another one percentage point cut each year until the tax is eliminated in 2028. It passed the Missouri House on a party-line vote.

The current Secretary of State and Republican gubernatorial hopeful enlisted the help of economists who crafted the 2012 Kansas tax plan, which crashed revenues and was repealed several years later, to prepare a proposal for Missouri tax revisions.