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Local Experts Questioning Greitens Tax Cuts

The Missouri governor wants to cut taxes for 97 percent of Missourians as well as reduce the corporate income tax by 30 percent.

Posted: Feb 14, 2018 3:43 PM
Updated: Feb 15, 2018 11:02 AM

(ST. JOSEPH, Mo.) This week, Missouri Governor Eric Greitens is touring the state to promote his tax cut plan.

Greitens is proposing to cut taxes for 97 percent of Missourians as well as reduce the corporate income tax by 30 percent. 

Missouri Western professor of economics Patrick McMurry says that while the cuts could help bring in businesses to the state, there are still many programs that would be hurt from more cuts.

"Missouri Western like a lot of schools, we've reached the point there is no fat on the meat for year," McMurry said. "Now we're starting to cut bone, and if he cuts revenues even further, I don't know where the money is going to come from."

McMurry says that if the state had a balanced budget or even a surplus, he would support the plan, but he says with less money coming into state coffers through a tax cut, he's not sure how it will balance out.

"Since we have been suffering severe cuts to so many areas in Missouri for quite some time now and the governor predicted even more cuts in the future, I simply don't know where the difference between revenues and expenditures is going to be made up," McMurry said. 

The governor also mentioned improving infrastructure, specifically in rural areas to help bring in more businesses to those areas. However, with more cuts potentially on the way, lawmakers could have to seek alternative routes to fund those projects. 

"It was suggested to him and I think by other Republicans that if we increase the gasoline tax in Missouri that would be a source of revenue," McMurry said. "The excise tax on gasoline in Missouri has not been increased in a very long time I don't think and if we need more money for infrastructure, that has always been earmarked, that would be a good place to start."

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