- Associated Press - Saturday, March 11, 2017

JEFFERSON CITY, Mo. (AP) - Missouri’s House budget leader says lawmakers might not have changed corporate tax law if they’d known what it would actually cost.

Republican House Budget Committee Chairman Scott Fitzpatrick told The Associated Press that lawmakers had poor information when the 2015 bill came up for a vote.

The measure was estimated to cost about $15 million annually. Corporate tax revenues dropped more than $155 million the first fiscal year it was implemented, though it’s not clear whether that was all from the tax change.

Democratic Auditor Nicole Galloway says that’s not acceptable. She’s auditing corporate income tax law as part of a review of policies that have contributed to budget crunches.

It’s unclear whether lawmakers can undo their action. Fitzpatrick says a repeal could be interpreted as an unconstitutional tax hike.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide