New round of tax cuts to income, corporate rates passes Missouri House

JEFFERSON CITY — A package of tax cuts that further reduce Missouri's income tax rate, slash the corporate income tax by half and exempt Social Security payments from income tax passed the state House on Thursday. The proposal comes months after the Republican-led legislature made the largest income tax cut in the state's history, and as members look for more paths to relieve tax burdens as the state touts a surplus of dollars. The tax package now heads to the Senate, which has been considering several other tax cut proposals....