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.