Feb. 23, 2018
Senator Caleb Rowden’s Column for the Week of Feb. 19, 2018
One of my top priorities as a senator is to help working families in Boone and Cooper Counties by providing tools to help them get established and contribute to our communities. I believe our state policies should encourage smart financial decision-making and help people save for their future. These are just a few of the reasons why I have filed Senate Bill 887, also known as the First-Time Home Buyer Savings Account Act.
This legislation would allow individuals to open a savings account to be used for paying eligible expenses related to buying their first house. Senate Bill 887 also creates an income tax deduction worth 50 percent of the individual’s contributions to their savings account. The maximum amount an individual may contribute to an account in a single tax year is $1,600 for an individual or $3,200 for a couple filing a joint tax return. The maximum amount of all contributions to an account for all tax years is $25,000. An account shall not contain more than $50,000. This legislation provides tax incentives to families and individuals looking to purchase their first home. This week, SB 887 was heard in the Missouri Senate’s Ways and Means Committee.
As I discussed last week, I have also filed Senate Bill 999, which designates a portion of Interstate 70 the “Highway Patrol Sgt. Benjamin Booth Memorial Highway”. Senate Bill 1000 designates a portion of I-70 the “Sheriff Roger I. Wilson Memorial Highway”. Sheriff Wilson, a Boone County Sheriff, and Sergeant Booth of the Missouri State Highway Patrol, died in the line of duty in 1933 while attempting to apprehend two bank robbers. This legislation attempts to honor their memory and serve as a recognition for all who serve. Both bills were heard in the Missouri Senate’s Transportation, Infrastructure and Public Safety Committee this week. During the hearing, I had the opportunity to meet members of the Missouri State Highway Patrol and the families of Sergeant Booth and Sheriff Wilson. I was humbled by their dedication and service to our community and to our state.
I was also privileged this week to be shadowed by Taylor Theissen. Miss Theissen participated in the Missouri 4-H Legislative Academy, which provides students the opportunity to see the legislative process first-hand. The 4-H Legislative academy provides students the opportunity to share their experiences while gaining leadership and citizenship skills that will aid them in their future careers. It was a privilege to spend time with Miss Theissen and I believe she has a bright future ahead of her.
I am here to serve you, and my office door is always open to your questions, concerns and suggestions. You can reach my staff at 573-751-3931 and an array of legislative and constituent resources at www.senate.mo.gov/rowden.