(PresidentialInsider.com)- In May, the Missouri legislature passed the largest budget in state history. The $49 billion budget plan included $500 million in targeted tax rebates allocated from the state’s unprecedented surplus of tax revenue. The measure would have given individual filers earning less than $150,000 a $500 rebate while joint filers making less than $300,000 would get a $1,000 rebate.
However, Missouri Governor Mike Parson vetoed the measure, arguing that the tax rebates did nothing for lower- or higher-income Missourians. He also argued that the rebates would only provide temporary relief rather than long-term relief.
In July, Governor Parson called for a special legislative session to pass an alternative plan that would implement permanent tax relief for all Missouri taxpayers.
In his statement, the governor explained that instead of offering hundreds of millions in tax rebates, permanent tax cuts would “provide real relief” and help people deal with the 40-year high inflation and the rising cost of consumer prices.
Parson said, unlike the rebate scheme, the relief provided in permanent tax cuts would benefit everyone in the state.
To win support for his plan, Parson has attended several gatherings throughout August. Last Friday, he met with the Missouri House Republicans’ summer caucus.
Parson told reporters earlier this month that his meetings have been productive. He said he wants to do “the largest tax cut in Missouri history” while still maintaining funding for education and health care.
To get his plan enacted, Parson has called in Rex Sinquefeld, one of the biggest advocates for tax cuts in Missouri. Over the last year, Sinquefeld has donated over $40 million to candidates in Missouri.
Parsons has enlisted Sinquefeld to meet with legislatures and urge them to reject handing out tax rebate payments in favor of legislation that would permanently cut state taxes across the board. Legendary economist Art Laffer has also joined Sinquefeld in some of the meetings with lawmakers.