Sample Tax Trigger Bill

What is happening? Missouri is considering SB 739 (2022 | MO) that reduces a certain tax rate by .01 each time the general revenue exceeds the general revenue baseline of $10.3 billion. Reductions are permanent and can occur multiple times in a single year.

Why is this important? The trigger is also NOT adjusted for inflation.

How will this be important? Legislatures love to say they reduced taxes.

Tax Foundation | Missouri Tax Reform Could Give State Competitive Edge