JEFFERSON CITY — State Sen. Will Kraus, R-Lee’s Summit, announced today that a tax cut bill will be his top priority in the upcoming 2014 session. Senator Kraus is the chairman of the Senate Ways and Means Committee and was the primary architect of two tax policy bills this session.
“While I am disappointed that we could not override the governor’s veto on such a key economic development bill, I accept that it often takes several years for such high visibility bills to become law,” said Sen. Kraus. “I am extremely pleased that we opened the discussion on tax policy more than we have in decades.”
The Missouri General Assembly worked on two tax cuts bills in 2013, Senate Bill 26 and House Bill 253. Only the latter was truly agreed and sent to the governor. Both bills offered across-the-board tax relief for all Missouri residents and businesses. SB 26 was put aside to try and reach a better compromise.
“My hope is that the minority party in the Senate continues to actively engage in discussions to improve the bill,” said Sen. Kraus. “I was pleased to work with several members of the minority party during the last session and will do so again. In addition, I hope the governor engages in positive discussions during the legislative process in 2014.”
Missouri ranked 47th in Gross Domestic Product growth over the last decade, is consistently ranked by major publications as only a mid-pack “business-friendly” state, and is losing business and population relative to other states – leading to yet another lost congressional seat in 2010. Several other Midwest neighbors have already cut taxes or are planning to do so to boost their economies.
“Standing still moves Missouri further behind,” said Sen. Kraus. “We have to have a serious discussion about core economic development, and that means tax reform. Targeted tax cuts, incentives and tax credits have not proven to be the answer.”
For more information in these measures or any of Sen. Kraus’ sponsored legislation, please visit www.senate.mo.gov/kraus.
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