Missouri Senate gives preliminary approval to tax overhaul
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Missouri Senate gives preliminary approval to tax overhaul

Date: March 7, 2013
By: Nick Thompson
State Capitol Bureau
Links: SB 26

Intro: 
The Missouri Senate endorsed a massive tax overhaul without an official projection of what it will cost the state.
RunTime:  0:42
OutCue:  SOC

Wrap: Kansas City area Senator Will Kraus won approval for a 300 page tax bill that in short, cuts most income taxes and raises the sales tax by a half percent.

Jackson County Senator Jason Holsman joined some Democrats in calling it irresponsible, saying the state should figure out how to fund services like K-12 education first.

Actuality:  HOLSMAN1.WAV
Run Time:  00:12
Description: "I'm not saying that we should do nothing. I'm saying that what we should do should be very calculated, very vetted and we should understand the potential consequences or the unintended consequences of the actions we're gonna take here today."

Kraus' idea here is to put more money into people's pockets, but Senate Democrats say the poor will get hit hard with the sales tax hike.

Reporting from the state capitol, I'm Nick Thompson.

Intro: 
The Missouri Senate backed a 300 page tax bill its sponsor says will stop the bleeding in an economic border war with Kansas.
RunTime:  0:43
OutCue:  SOC

Wrap: Kansas City area Senator Will Kraus won approval for a legislative package that works in cuts to most of Missouri's income taxes and raises its sales tax by a half percent.

Kraus estimates the cuts will cost the state 450 million dollars a year but he also says what he think happens when people get to keep more of their money.

Actuality:  KRAUSTX2.WAV
Run Time:  00:11
Description: "Unless we get into another recession like we just got out of in 2008-2009, I believe our revenue is going to continue to grow and it will be far more than this bill is going to reduce."

The Senate moved forward without an official fiscal estimate of what the bill would cost.

The bill also moved past some Democrats who say a sales tax hike hits the poor hardest.

Reporting from the state capitol, I'm Nick Thompson.

Intro: 
Missouri Republican leaders listed cut taxes as a priority this year and now the Missouri Senate has a plan.
RunTime:  0:45
OutCue:  SOC

Wrap: Kansas City area Senator Will Kraus got his chamber to endorse his plan to work in cuts over the next five years to most state income taxes and it also increases the state sales tax.

Kraus wants to arm Missourians with more of their take home pay to fight back in an economic battle with low-tax Kansas.

Actuality:  KRAUSTX4.WAV
Run Time:  00:05
Description: "I'm not trying to do what Kansas is doing, I'm trying to stop the bleeding. I'm trying to stop the businesses from fleeing Missouri into Kansas."

But Kansas City area Democrat Jason Holsman disagrees.

Actuality:  HOLSTX.WAV
Run Time:  00:04
Description: "I just think that this is a very big bet."

Holsman says the state can't fully fund its obligations with current revenue.

The sales tax increase recovers some revenue lost with the income tax cuts, but some Democrats worry a sales tax hike will hurt the poor.

Reporting from the state capitol, I'm Nick Thompson.


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