Kraus & Nixon Talking on Tax Cuts

Missouri Times:
While details have yet to be released, Sen. Will Kraus, R-Jackson County, told The Missouri Times Friday that after months of negotiations with Gov. Jay Nixon, he will be introducing a legislative package in the senate that reflects a compromise reached with the Democratic governor on tax cuts.

Nixon vetoed a tax cut bill last year, drawing the ire of House and Senate Republicans. Kraus, who sponsored tax cut legislation last year and this year, said that he was “extremely pleased,” that Nixon was been willing to work with his office.

“There have been a lot of discussions between myself, the Governor and the Governor’s staff,” Kraus said. “And we now have a deal that, if my senate colleagues and members of the House can agree with, he will sign into law.”

Kraus declined to indicate specific measures in the bill, saying he had yet to show the language to his fellow senators or receive feedback from the caucus as a whole. But Nixon told reporters at a Missouri Press Association event today that he had certain demands for any tax cut package. Among them, Nixon indicated he would sign an income tax cut of up to one-half of a percentage point if the measure included full funding for the foundation formula and reform of some of the state’s most expensive tax credit programs. Nixon also said any deal should be contingent on at least $200 million annually in tax revenue growth.

Kraus declined to confirm or deny if any of these demands were met in his package, but hinted that at least some of the Governor’s demands would likely be met.

“I can’t release the details without hearing from my fellow senators first and foremost,” Kraus said. “But I can say that this is something he has told me he will sign if it gets to his desk.”

More: http://themissouritimes.com/8278/kraus-nixon-preparing-unveil-tax-cut-compromise/

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