This week, the Missouri House Ways and Means Committee narrowly advanced HB 291, sponsored by Rep. Bill Kidd (R-Buckner), that would establish a state earned income tax credit (EITC) for Missouri's working poor. By a vote of 5-4, the committee voted to "Do Pass" the measure, which would allow qualifying Missouri workers to claim 20 percent of the tax credit allowable under federal law on their state tax return. Missouri is currently facing a significant budget shortfall for FY 2019, however, and HB 291 comes with a price tag of around $41 million, making chances of passage this year slim given the current economic realities facing the General Assembly. The MCC is encouraged, however, that the bill had a hearing and was able to garner enough votes to pass through the initial committee. The bill will need further committee review before heading to the House floor for debate.
March 1, 2019 - 3:02pm