Missouri Budget

Four New Mega Tax Initiative Petitions Would Cut State General Revenue by One-Third

Four new initiative petitions have been filed that would place before voters a constitutional amendment to greatly expand the sales tax and eliminate the personal income tax. If passed, the new tax structure would result in general revenue shortfalls of at least $2.5 billion – about 1/3 of the general revenue total.  The MBP fact sheet provides more details on the proposals and the impact on the state’s general revenue and services.