Rep. T.J. Berry (R-Kearney) is the latest elected official to file a broad-based employer tax relief bill for consideration in the 2014 Missouri legislative session that starts today.
Rep. Berry’s bill, HB 1253, contains the two main parts of a bill passed by the legislature in the 2013 legislative session and vetoed by Governor Jay Nixon. Nixon objected to other parts of the bill that have not been included in the newly filed bill. Berry joins Senator Eric Schmitt and Senator Will Kraus who have also filed broad based tax relief bills in the Missouri Senate.
The new bill would cut the income tax liability for EVERY employer in the state by one-half over five years in which income tax revenues have grown. If state income tax revenues do not grow, no additional tax cut is added for that year. Also, if a business pays its employees an average wage at least 150% of county average wage, the 50% cut is immediate.
“This type of responsible tax relief is needed in Missouri,” said Ray McCarty, president of Associated Industries of Missouri (AIM). “On behalf of the employers we represent, AIM has lead the way to reduce the tax burden on Missouri employers for the last three years. Last year, we were disappointed with the fact the bill was vetoed. Rep. Berry has removed all of the parts the governor objected to, so we are hopeful this will be a bill the governor will support and we look forward to working with him to make Missouri more competitive in the global marketplace.”