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Missouri Legislature back in Jefferson City for the start of a special session
The Missouri Legislature is back in Jefferson City for the start of a special session.
Governor Mike Parson wants the legislature to reduce the income tax rate from the current 5.3-percent to about 4.8-percent.
He is requesting to raise the standard deduction so that a single Missouri taxpayer earning 16-thousand-dollars or less would not owe state income tax.
Under Parson’s plan, married couples in Missouri with a spouse who does not work and earns 32-thousand-dollars or less would not owe state income tax.
The governor also wants agriculture tax credits extended from two years to six years for biofuel producers, meat packers and young farmers.
Parson hopes the plan can take effect in January.