Parson Calls Special Session for Tax Relief

Governor Mike Parson will be calling for a special session for the purpose of providing permanent tax relief and extend a sunset on agricultural tax credits. Parson announced the special session during a media conference last week. The governor also announced vetoes of House Bills 2090 and 1720.

we can do better for all Missouri taxpayers than HB2090 - Missouri Governor Mike Parson

HB 2090 authorized one-time $500 tax rebates for individuals making less $150,000 per year and $1,000 rebates for joint filers making less than $300,000 per year. Since the rebates on tax liability would be pro-rated due to the program being underfunded, no taxpayer would receive the advertised maximum rebate. Many working Missourians, including low-income earners, high-income earners, and vulnerable populations, were left out of this temporary relief measure entirely.

Alternatively, Governor Parson is proposing permanent tax relief for all taxpaying Missourians. As the nation and Missouri face record inflation, historically high gas prices, and rising food costs, Governor Parson wants to provide permanent tax relief that provides yearly savings to Missourians, as opposed to a one-time stimulus.

"I have always advocated for reducing Missourians' tax burden and support the spirit of this legislation, however, the reality is, we can do better for all Missouri taxpayers than HB2090, and I want to focus on a comprehensive and permanent tax reform package," Governor Parson said.

"We have managed our state resources responsibly and our consistent investment in workforce development and infrastructure is providing a strong foundation for Missouri. Now is the time to take additional steps to help alleviate the strain on Missouri families. Permanent tax cuts that provide real relief to families, senior citizens, the working class, and small businesses every year is a better answer to the inflationary pressures we face, and we look forward to getting it done," Governor Parson said.

Tenants of Governor Parson's proposed tax plan include reducing the individual income tax rate, increasing deductions and allowances for taxpayers, and further simplifying the tax code.

KPGZ News - Brian Watts contributed to this story