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Health & Fitness

Accountants Voice Support for Tax Cut Bill

In response to school funding projections recently released by Governor Nixon, the Missouri Society of Certified Public Accountants released a letter in support of Senate Bill 509, the Republican-led tax cut.

Since Republicans took the majority in the Missouri legislature, they have been working toward broad tax reform. This year Republicans united behind SB 509, sponsored by Senator Will Kraus (R- Jackson County). The bill was vetted for months by the General Assembly and offers tax relief to both individuals and businesses while using triggers to protect the state’s General Revenue fund from being negatively impacted.

“As a Certified Public Accountant I am glad my peers united behind this fiscally responsible, pro-growth bill,” said Speaker Pro Tem Denny Hoskins (R – Warrensburg). “They are on record against several tax cut bills this session, so receiving their support on this bill helps to solidify my stance that this legislation is in the best interest of Missouri and its citizens. I have consistently said you can offer tax relief without hurting vital state programs, like education. Not only does this bill not harm education, I contend that many schools, including those in my district, would benefit from its implementation.”

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Governor Nixon has repeatedly denounced reducing the tax burden on Missouri citizens and businesses, citing concerns about how state programs’ funding levels would be affected. This accusation has been refuted by Republicans in the legislature who reaffirmed their dedication to education by appropriating a historic amount of money to the K-12 Foundation Formula for the 2015 fiscal year.

Senate Bill 509 was delivered to the Governor on April 16th, and he has 15 days from then to veto the bill.

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