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MO House Leaders Support One-Time $500 Tax Credit
Leaders in the Missouri House are supporting a plan to give residents a one-time economic recovery tax credit to help with the increased cost of living.
House Budget Committee Chair Cody Smith of Carthage says his bill would provide a 500-dollar credit to anyone who filed a 2021 income tax return and couples filing jointly will receive up to a thousand dollars.
It would be paid for with one billion dollars in state funds.
Smith says Missouri is fortunate to have a record surplus that we can use a portion of to provide direct economic relief to working Missourians.
Leaders say the measure will be a legislative priority for the House in the final weeks of session.