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News Brief

Feb. 28, 2013MO |  By: MDN

MO Senate Tax

A Missouri Senate committee has voted to slash individual, corporate and small business income tax rates in a bill to compete with Kansas' supply side experiment.

Republican Senator Will Kraus says the bill is sure to get marked up further, but he's sure the GOP can accomplish this major legislative priority.

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Jackson County Democratic Senator Paul LeVota says a state with even lower rates is not where he wants to be. According to fiscal projections, the proposed tax cuts would create a $1.1 billion budget hole in 2014.