Leaders in the Missouri House are supporting a plan to give residents a one-time economic recovery tax credit to help with the increased cost of living.
House Budget Committee Chair Cody Smith of Carthage says his bill would provide a $500 credit to anyone who filed a 2021 income tax return and couples filing jointly will receive up to a thousand dollars. It would be paid for with one billion dollars in state funds. Smith says Missouri is fortunate to have a record surplus that we can use a portion of to provide direct economic relief to working Missourians.
Leaders say the measure will be a legislative priority for the House in the final weeks of the session.