JEFFERSON CITY, Mo. (KY3) – Missouri House members voted to phase out all corporate income taxes over the next few years.The vote took place on Monday. The policy reduces the 4 percent corporate tax by one percent each year until 2028 when it will disappear entirely.All House Republicans voted in favor of the bill, saying it will bolster Missouri’s economy. Meanwhile, all Democrats voted against it. They argue that it sacrifices public services and badly needed revenue while only benefiting the richest Missourians.The bill needs Senate approval.To report a correction or typo, please email digitalnews@ky3.comCopyright 2024 KY3. All rights reserved.
