Members of five Missouri livestock industry groups are pushing for the first across-the-board tax cut for all Missourians in nearly 100 years. Livestock associations joining the effort include the Missouri Pork Association, Missouri Cattlemen’s Association, Missouri Dairy Association, Missouri Egg Council and the Missouri Chapter of the Poultry Federation.
“Family farms are small businesses and we are proud to promote small business growth and expansion in Missouri, as well as increase our competitiveness with other states,” says Jimmie Long, chairman of the Missouri Cattlemen’s Policy and Legislative Affairs Committee and a cattleman from Cole Camp. He adds: “Today, farmers work in a global economy and state policies make a difference in terms of the regulations, cost of doing business and ability to compete. We believe House Bill 253 would allow us to do all of those things better.”
Missouri’s livestock associations are the first agricultural organizations to partner with other grassroots and business advocacy organizations to help bring much needed tax relief and government accountability to all Missourians.
“Agriculture is the state’s number one industry and the tax relief represented in this proposal could offer a great boost to our economy, farmers across the state and the families of our members,” says Bob North, chairman of the Missouri Pork Association and a hog farmer from Lebanon.
“We are encouraging legislators to override Gov. Jay Nixon’s veto of the bill,” says Nate Moore, director for the MO Egg Council and egg producer from Knob Noster, “One hundred and nine votes are needed to override a gubernatorial veto and legislators came close to that margin during the regular session despite several representatives being absent.”
“We are very close. There is a lot of support for this bill and we want all legislators to know that House Bill 253 means a lot to agriculture,” adds Larry Purdom, president of the Missouri Dairy Association and a dairy farmer from Purdy. “This September could be a historic one in Missouri.”
The bill would phase in a 50% tax cut to small businesses, such as limited liability companies and S-Corps over five years. In addition, the highest income tax rate any Missourian would pay would be reduced from 6% to 5.5% over a 10-year period.
The corporate income tax rate would also be reduced 3% over the same 10-year period. The individual and corporate reductions would only take place if the state generates $100 million in revenue annually. For low-income earners, the personal deduction would be increased from $2,100 to $3,100 for individuals earning less than $20,000.
The Missouri Pork Association represents the state’s pork producers in the areas of promotion, research, education and legislation. For more information, go to www.mopork.com, or call the Missouri Pork Association office at (573) 445-8375.
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