This local sent ten members to the 2025 Joint Legislative Conference a couple weeks ago.\u00a0 One topic we discussed with our elected officials was honoring the vote of Missourians that supported the creation of a Paid Leave program last November. Many of our Republican representatives told us that this legislation would be costly to small business.\u00a0 We recognize this could be an issue.<\/p>\n
We proposed a solution.\u00a0 At the time of our discussion there were bills to reduce the Capital Gains and Corporate taxes.\u00a0 We asked if the budget was so flush that the state could give more tax cuts to the richest Missourians why couldn’t we use some of those funds to provide a tax incentive to small businesses to help with the expense of providing paid leave to employees?<\/p>\n
The response was: We didn’t think of that.<\/p>\n
Yesterday the Missouri Independent shared Missouri lawmakers set to pass capital gains tax cut with questions about it’s total cost.<\/a>..<\/p>\n In the\u00a0fiscal note<\/a>\u00a0prepared for the capital gains exemption, the Department of Revenue estimates that the combined individual and corporate exemption would reduce state revenues by approximately $235 million annually. The individual income portion would be about $111 million a year.<\/p>\n
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