(WSIL) -- Missouri Governor Mike Parson vetoed two bills Friday and is planning a special session to pass permanent tax relief for all taxpayers.
Gov. Parson issued vetoes for:
- HB 2090: For those who had tax liability in 2021, the bill authorized one-time $500 tax rebates for individuals making less than $150,000 per year and $1,000 rebates for joint filers making less than $300,000.
- HB 1720: Established several new agricultural tax credit programs and re-authorized existing ones that were only extended for two years.Â
Governor Parson said HB 2090 wouldn't provide maximum rebates to any taxpayers and many taxpayers were left out of the temporary relief measure. He said HB 1720's two year extensions are problematic and reduce the benefit to Missouri farmers and business owners.Â
"We have managed our state resources responsibly and our consistent investment in workforce development and infrastructure is providing a strong foundation for Missouri. Now is the time to take additional steps to help alleviate the strain on Missouri families. Permanent tax cuts that provide real relief to families, senior citizens, the working class, and small businesses every year is a better answer to the inflationary pressures we face, and we look forward to getting it done," Governor ParsonÌý²õ²¹¾±»å
"This year the General Assembly authorized longer sunsets for a number of other tax credit programs, and as agriculture is Missouri's top economic driver, it's only right that we offer Missouri farm families - the foundation of our economy - with the same opportunities as others. We must extend these key agriculture tax credits for a minimum of six years," Governor ParsonÌý³¦´Ç²Ô³Ù¾±²Ô³Ü±ð»å.
In response, the governor is calling for a special session to provide permanent relief.Â
Tenants of the governor's proposed tax plan include reducing the individual income tax rate, increasing deductions and allowances for taxpayers and further simplifying the tax code.
Governor Parson's special session plan for agriculture tax credits and related priorities includes:
- Extending the sunset on agriculture tax credits included in HB 1720 for a minimum of six years rather than two;
- Exempting certain agricultural equipment from state and local sales tax; and
- Modifying the Family Farms Act to increase the number of small farmers that qualify for the program, and increasing the amount of loans available to the farmer.
Governor Parson is currently working with legislative leaders to identify a date for the special session call.Â
