Or, more commonly known as SB 26.
Yeah, we know, it’s not a speck of dust, but it is an evocative image. Roll with it.
SB 26 cuts income taxes and increases sales taxes while further reducing state revenue. For right wingnut republicans in the General Assembly those are features, not bugs.
From the Missouri Budget Project:
House Version of Senate Bill 26 Would Cut State Revenue by $985 million per year – Top Ten Reasons to Oppose [pdf]
Summary: The House has approved a substitute for SB 26. The measure was altered significantly in the House but has not been improved. Rather, it has become even more devastating to state services and will burden at least 40 percent of Missourians with a significant tax increase. In addition, several provisions will likely result in ongoing litigation.
Overall, the major provisions of the bill will decrease the state individual income tax rate from 6 percent to 5 1/3 percent; decrease the corporate income tax rate from 6.25 percent to 5.5 percent after exempting the first $25,000 of corporate income from tax; increase the state sales tax from 4 percent to 4.6 percent (and dedicates the increased sales tax to roads and K-12 education); and create a new business income deduction of 50 percent. In addition, a House amendment added a new option for determining a company’s tax base. This is likely to have a cost, but no estimate is currently available. While the bill also created an additional tax deduction for low-income Missourians, it would have little impact due to its design.
The measure increases Missouri’s sales tax from 4 percent to 4.6 percent (Missouri has an additional .25 percent designated sales tax, making the overall rate 4.85 percent). By reducing the income tax and increasing the sales tax, the proposal will increase taxes for 60 percent of Missourians – those who can least afford it. Missourians with incomes of $53,000 and less will pay more in tax than they currently do, while those whose average income is more than $1 million will receive an $11,000 tax cut on average. In particular, Missouri seniors who rely solely on social security for their income face a tax increase.
[emphasis in original]
Ah, the little people, who no one cares to hear, get a tax increase.
“…even though you can’t see or hear them at all, a person’s a person, no matter how small…”