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Tell Governor Parson to Veto Unfair Tax Credit
In the closing days of the legislative session, the Missouri General Assembly rushed through an ill-conceived tax credit proposal that costs $500 million and leaves out the very Missourians who need it most, like families earning low wages and seniors who rely on Social Security income.
Further, the legislation was created to give folks who make $150,000 a much larger benefit than those making $30,000 - even though families earning less often pay a higher proportion of their incomes in taxes than their wealthier counterparts.
TELL GOVERNOR PARSON TO VETO HB 2090!
The tax credit created as part of House Bill 2090 leaves out more than one in three Missouri taxpayers.
- The Missourians who are struggling the most to make ends meet right now - like older Missourians living on fixed incomes, low wage families with children, and those most impacted by the health and economic consequences of the pandemic – won’t see a dime of economic relief from the proposal because their low earnings disqualify them from receiving any benefit.
- In Missouri, the lower your earnings, the more you pay in state and local taxes as a share of what you make: according to the most recent analysis, Missouri families in the bottom quintile of income pay 9.9% of their income in state and local taxes, compared to just 6.2% for the wealthiest 1% of families.
Those Missourians who are eligible for a rebate will likely be disappointed to see rebates far below the widely touted $500 for individuals and $1000 for married couples.
- The total cost of the credit to the state is capped, so on average, the credit will be just 41% of the value that was touted by lawmakers.
- Only 60% of taxpayers in the bottom 80 percent of earners (up to $110,000) will see a tax credit at all.
Governor Parson has been open about his concerns about the bill. Please ask him to veto the measure by taking action below.
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