JEFFERSON CITY — This week in the Missouri Senate, Sen. Will Kraus, R-Lee’s Summit, spearheaded discussions to pass legislation critical to citizens and businesses who call Missouri home.
“This session, my focus has centered on changing the tax structure in the Show-Me State,” said Sen. Kraus. “It is imperative that we change how we approach the topic of taxation in order to improve Missouri’s future.”
On Tuesday (5-7), Sen. Kraus stood to offer a Senate substitute to House Bill 253 to streamline the language and create a strong bill for the General Assembly to pass.
Known as the Broad-Based Tax Relief Act of 2013, HB 253 reduces personal income tax by .5 percent over a period of 10 years and knocks down business taxes by 3 percent over that same period. The bill also creates a 50 percent deduction for small business pass through taxes over five years. With a built in release trigger, the first reductions would not take place until the state revenue increases by $100 million and then not again until another $100 million increase, until all reductions have been applied.
“Missouri not only needs this tax reform, its citizens deserve it. And I am proud to have played a part in the passage of this legislation,” said Sen. Kraus. “I appreciate the support of the Bill’s sponsor, Rep. T.J. Berry, R-Kearney, and the Senate handler, Sen. Eric Schmitt, R-Glendale, who allowed me to make significant changes to the original bill.”
After a 23-10 vote in the Senate on Wednesday (5-8), SB 253 headed back to the House for final approval there. With a 103-51 vote on Thursday (5-9), the House passed the bill and sent it to the governor’s office to await his signature in order to take effect.
For more information on any of Sen. Kraus’ bills for 2013, please visit www.senate.mo.gov/kraus. |
