Tim Jones and Grover Norquist
Thanks to the leadership of Governor Mike Parson and Republicans in the General Assembly, Missouri taxpayers are now benefitting from the largest tax cut in state history. This is a huge win for all residents of the Show Me State. Making this great news even better, many Republicans want to build on this accomplishment by delivering additional permanent tax cuts.
Missouri Republicans used the 2022 legislative session to deliver a much-needed income tax cut package. On January 1, 2023, this package reduced Missouri’s top individual income tax rate – which applies to most Missouri income taxpayers and is the part of the individual income tax that is used to make decisions about investment – from 5.2 percent to 4.95 percent. It also allows for this rate to be reduced in the future – as low as 4.5 percent – as certain triggers are met.