Missouri Lawmakers Divided: Republicans Back House Bill 2274 for Big Businesses, Democrats Voice Concerns
House Bill 2274 Proposed by Rep. Travis Smith Amidst Partisan Debate
According to Colorado Springs Gazette, Missouri‘s lawmakers passed House Bill 2274 to gradually get rid of taxes for big companies and stop giving them tax breaks. The House Bill 2274 led by Rep. Travis Smith a Republican from Dora suggests lowering the tax rate for big companies from 4% to 0% by 2028. The House Bill 2274 got approval from Republicans but faced opposition from Democrats. Democrats worry that lowering taxes for big companies might not be needed because Missouri already has low taxes for them. They fear it could lead to less money for important things like schools and roads.
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House Bill 2274: Missouri Lawmakers Push to Scrap Corporate Taxes by 2028! (PHOTO: KCUR)
Tax Reform Debate Intensifies: Republicans Pitch Corporate Tax Cuts for Economic Growth, Democrats Insist on Fair Shares and State Investments
Republicans say cutting taxes for big companies will help workers and people buying stuff by making companies invest more in buildings and paying employees better. But Democrats aren’t convinced. They think big companies should pay their fair share for using state services. Now the House Bill 2274 goes to the Senate where more talks will happen about whether it’s a good idea or not. It’s all part of a bigger conversation about how taxes affect everyone and how to make things fair for everyone.
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