Governor Mike Parson (R) announced an extraordinary session on August 22, 2022 which will focus on an income tax cut and agricultural tax incentives proposal. This extraordinary session is set to begin on September 6 and the annual veto session begins on September 14.
During the regular 2022 session, Parson vetoed a tax cut and tax credit bill (House Bill 2090). The proposal Parson is presenting to the legislature for the extraordinary session would lower the state’s top income tax rate and eliminate the bottom income tax bracket. If passed, the income tax cuts will total about $700 million.
Senator Lincoln Hough (R) spoke in support of the plan saying, “I welcome Gov. Parson’s call for a special session — and I plan to file a bill on the first day to cut taxes for every family in Missouri. Allowing Missourians to make more income before they actually have to file taxes is continuing to remove burdensome government from the lives of everyday Missourians.”
Representative Crystal Quade (D) disagreed with Gov. Parson’s plan. She said, “A cardinal rule of responsible budgeting is don’t use temporary revenue to take on permanent expenses. Yet the governor’s plan uses a temporary budget surplus as cover for a permanent loss of revenue that will put Missouri government back into the financial hole it just climbed out of.”
The Missouri General Assembly adjourned the regular 2022 legislative session on May 13. There were a total of 2,104 bills introduced and two bills passed.
Editor’s note: A previous version of this article incorrectly used the term “special session” to refer the the extraordinary session that was called on August 22, 2022.