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.