Missouri voters may soon decide one of the biggest tax policy questions the state has faced in decades: whether to gradually eliminate the state income tax and potentially replace much of the lost revenue with expanded sales taxes.
The proposal, approved by the Missouri Legislature this year, would phase out Missouri’s top individual income tax rate over time if certain state revenue targets are met.
Supporters say the plan could make Missouri more competitive economically, while critics warn it could increase costs for ordinary families and reduce funding for public services. [Read more…] about Missouri voters could decide whether to eliminate the state income tax