Missouri Budget

The state of Missouri will face a budget shortfall nearing $800 million in fiscal year 2013, making it more difficult than ever for the state to make vital investments to create jobs and boost our economy, according to a new analysis by the Missouri Budget Project. The shortfall Read More

Four new initiative petitions have been filed that would place before voters a constitutional amendment to greatly expand the sales tax and eliminate the personal income tax. If passed, the new tax structure would result in general revenue shortfalls of at least $2.5 billion Read More

Missouri lawmakers will soon consider a bill that would eliminate more than 105,000 Missouri seniors, veterans, and people with disabilities from a modest tax credit that is critical to keeping them in their homes and would remove millions from local economies throughout the Read More

The tax credit package to be debated at a special session in September includes a $52 million cut to the Circuit Breaker Property tax credit program, which enables seniors and those living with a disability to remain in their homes. If passed, the measure would impact more than Read More

One of the objectives of Missouri’s expected Special Legislative Session to be held this September is consideration of the "Aerotropolis" tax credit program. The program would spend $360 million over ten years to promote an international trade Read More

Earlier this month, Governor Nixon approved Missouri’s FY 2012 budget, reducing the budget passed by the General Assembly by an additional $172 million. For more information on the budget restrictions made by the Governor, click here. Read More

A significant portion of the FY 2012 budget restrictions imposed by Governor Nixon are attributable to costs resulting from the multiple natural disasters that have plagued Missouri this spring. While there appears to be bipartisan interest in tapping into a portion of the Read More

There are currently nine initiative petitions and two legislative proposals to place a constitutional amendment before voters in November 2012 that would eliminate personal and corporate income taxes and replace them with a greatly expanded sales tax.  Learn about the mega Read More

While many states have successfully used their "rainy day funds" to respond to recent budget shortfalls, flaws in the design of Missouri’s fund have proven to be obstacles to its intended use.  Reforms to the fund would enable it to be better used to respond Read More

The federal tax law signed in December allows businesses to utlize accelerated investment expensing.  As a result, Missouri will lose as much as $143 million in state corporate tax revenue from 2011-2012.  Missouri can prevent this loss by enacting a provision in its Read More