As the Missouri legislature considers deep cuts in personal income taxes, a national report finds that similar attempts by other states in the past have not fared very well. States that cut personal income taxes were just as likely to grow at rates below national averages in later years as to do better.
"The findings reinforce what we’ve been saying all along – income tax cuts are not a strategy for economic growth, and can actually undermine Missouri’s economy now and into the future," said Amy Blouin in a press release. The full report by the Center on Budget and Policy Priorities can be found here.
