Missouri lawmakers approve $40M in tax breaks for farmers
JEFFERSON CITY, Mo. (AP) - The Missouri Legislature has passed $40 million in annual tax breaks for farmers.
The GOP-led Senate on Tuesday voted 26-3 to send the tax incentive package to Gov. Mike Parson.
Lawmakers had passed a similar bill in May. But the Republican governor vetoed it, in part citing the short two-year sunset on many of the tax credits.
He called a special legislative session to extend the agricultural tax credits for a longer period of time. He also asked lawmakers to spend some of the state’s surplus revenue on an individual income tax cut, which they approved last week.
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