(Washington) – Many in Missouri are worried about the competitive tax rates in Kansas and how they may be luring business away from Missouri. Senator Claire McCaskill says that a number of factors would lead to a business leaving Missouri, but adds that Missouri is a great state to do business in:
Earlier this month,Missouri lawmakers gave final approval to an income tax cut for businesses and individuals that could reduce state revenues by about $700 million annually when fully phased in. The legislation, if signed by Gov. Jay Nixon, would mark the first decrease in Missouri’s income tax rate since 1921.