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Missouri Bill Cuts Capital Gains Tax, Sparks Controversy

5/9/2025

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Summary

Story summary

Missouri's House Bill 594, which abolishes the capital gains tax, could drain over $500 million from state revenues each year. As it awaits Governor Mike Kehoe's approval, critics argue it disproportionately benefits the wealthy. However, the bill also enhances the circuit breaker tax credit, offering vital support to nearly 195,000 low-income seniors and residents with disabilities.

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Story summary

Missouri's House Bill 594, which abolishes the capital gains tax, could drain over $500 million from state revenues each year. As it awaits Governor Mike Kehoe's approval, critics argue it disproportionately benefits the wealthy. However, the bill also enhances the circuit breaker tax credit, offering vital support to nearly 195,000 low-income seniors and residents with disabilities.