Today – following the lead of the State Senate – the Missouri House of Representatives under the leadership of Speaker Tim Jones has overridden Democrat Gov. Jay Nixon’s veto of SB 509. For the first time in nearly 100 years, Missouri taxpayers will be given broad-based tax relief.
This vote to override the governor’s veto will provide $620 million in tax relief for hard working Missourians. The legislation includes a reduction of the top income tax rate from 6 percent to 5.5 percent and a 25 percent exemption from income taxes for small businesses. The latter is a provision to help Missouri small businesses compete with Kansas small businesses which pay no state income tax. Yesterday the state senate voted 23 to 8 to override the governor’s veto.