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  • Writer's pictureAIM Team

Representative Jerry Nolte Attempts To Move Broad-Based Business Tax Relief Act

February 29 – Representative Jerry Nolte today attempted to add the Broad-Based Business Tax Relief Act to a bill that provides amnesty for taxpayers and enhances collection efforts of the Missouri Department of Revenue.  The Act, based on an idea from Associated Industries of Missouri, would cut the taxes of EVERY Missouri business in half over five years.

Several spoke against the amendment because of the cost to the state.  To satisfy these concerns, Representative Nolte proposed an amendment to the amendment that would pay for the broad based tax cut through reductions in a tax credit program.

Eventually, Representative Nolte agreed to withdraw his amendment after brief discussion as the underlying bill was necessary to move forward with approval of the state’s operating budget.  Representative Nolte’s original bill that accomplishes the same purpose, HB 1639, was finally referred to committee today.

Nolte intends to schedule a hearing on his legislation soon.  “I’m glad my bill has been referred to committee so we may begin the discussion of providing tax relief to every business in the state, creating jobs and getting our economy moving again,” said Representative Nolte.  AIM President Ray McCarty applauded today’s action, saying, “This legislation is the best economic development legislation the state has seen in recent history and we are pleased the bill is now moving.”

Associated Industries will notify Missouri businesses when the hearing is scheduled.

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