Missouri Governor Calls for Special Session to Cut Income Taxes and Extend Agriculture Tax Credits

Missouri Governor Michael L. Parson has officially called for a special session to cut income taxes and extend agriculture tax credit programs.

Tenets of Governor Parson’s proposed tax plan include reducing the individual income tax rate, increasing the standard deduction, and further simplifying the tax code.

Governor Parson’s proposed plan includes the following: reducing the top individual income tax rate from 5.3% to 4.8%; increasing the standard deduction by $2,000 for individuals and by $4,000 for married joint filers; and eliminating the bottom income tax bracket.