HB 2540 and SB 674 House Full Vote
Missouri legislators may soon be considering separate tax bills that would make Missouri’s tax system even more unfair and would take away critical resources our communities need to prosper. These cuts include funding for public schools. Missouri PTA opposes any measure that would take away funding for schools in Missouri. The loss of revenue generated from individual income tax is a large portion of funding for Missouri schools. Without quality schools it will be hard to attract new businesses and may even cause the loss of existing businesses, which hurts all of Missouri.
Contact your legislators today to let them know you OPPOSE these bills.
The irresponsible tax giveaways included in HB 2540 and SB 674 far outweigh the positive changes they include.
Senate Bill 674 would cut Missouri’s corporate tax rate nearly in half, benefiting large corporations, and changes are being made to House Bill 2540 that remove positive components that were in the original bill, like closing loopholes. Instead, the changes are doubling down on tax cuts that are weighted to benefit the wealthiest Missourians. Already in Missouri:
- The vast majority of Missouri families already pay a higher portion of their income in taxes than the top 20%.
- This unfair system has caused a budget crisis that is leaving our communities without the resources they need to prosper.
- This bill would place Missouri on a fiscal path that would make Kansas’ recent experience with tax cuts look like a cake walk.
- This bill would provide large tax cuts to wealthy Missourians, at the expense of everyone else. SB 617 would give Missourians with average incomes of $1.387 million a tax cut of $11,096 in 2019, while most working Missourians would see little impact or even tax increases. In fact, an analysis by the Institute on Taxation & Economic Policy found that 91% of the tax cut would flow to the wealthiest 20% of Missourians.
- As in the Kansas experience, Missouri would have little alternative but to move toward regressive consumption taxes (sales tax), increasing the burden on working Missourians.
Both HB 2540 and SB 674 give more unfair tax breaks to the wealthiest, leaving our families and communities to pay the price.
Schools are already struggling in part due to gaps in the budget created by the passage of SB 641 and SB 1025 in 2016. When Missouri is unable to fully fund its portion of schools every district and every child suffers. This can be felt most strongly in districts that are struggling to pay for the cost of education due to lowering property values and tax revenue. The corporate tax is vital to these schools to help to make the playing field level for all Missouri children no matter the school district.
There are a few districts in Missouri that will be better able to adjust to such a loss in income. However, what about the districts that cannot? There are several districts that already have cut music and extra-curricular activities out of their budget. They already have had to lay off support staff and may have to eventually lay off teachers. How are those schools going to be competitive with the schools that are better able to make up for decrease in funding? The further lack of funds that the loss of income tax would create a greater disparity between school districts.
Furthermore, with an educated population comes a qualified work force. This work force will help attract new businesses to Missouri. These new businesses in turn create new employment opportunities for Missourians. If we cannot fully invest in education we dissolve the very force that will propel Missouri onward. The children of Missouri deserve to have an equal chance no matter from which district they attend. We need to ensure they have career opportunities waiting for them to encourage them to stay in Missouri. Please tell your Representative to vote NO to HB 2540 and SB 674.
Tell your legislators to oppose these bills.
Dear Representative,
Missouri PTA opposes any measure that would take away funding for schools in Missouri. The loss of revenue generated from individual income tax is a large portion of funding for Missouri schools. Without quality schools it will be hard to attract new businesses and may even cause the loss of existing businesses, which hurts all of Missouri.
In the current fiscal year, the tax is budgeted to reduce $464 million for the general revenue budget. These cuts would come at a time when Missouri is already struggling to meet its budget needs due to previously enacted tax changes and would require additional and steep cuts to services including education.
Schools are already struggling in part due to gaps in the budget created by the passage of SB 641 and SB 1025 in 2016. When Missouri is unable to fully fund its portion of schools every district and every child suffers. This can be felt most strongly in districts that are struggling to pay for the cost of education due to lowering property values and tax revenue. The corporate tax is vital to these schools to help to make the playing field level for all Missouri children no matter the school district.
There are a few districts in Missouri that will be better able to adjust to such a loss in income. However, what about the districts that cannot? There are several districts that already have cut music and extra-curricular activities out of their budget. They already have had to lay off support staff and may have to eventually lay off teachers. How are those schools going to be competitive with the schools that are better able to make up for decrease in funding? We have seen several schools across Missouri lose accreditation and the fall out of students moving to other districts. The further lack of funds that the loss of income tax would create a greater disparity between school districts. This will severely impair how students can be accepted into colleges and how schools will be able to attract quality staff.
Furthermore, with an educated population comes a qualified work force. This work force will help attract new businesses to Missouri. These new businesses in turn create new employment opportunities for Missourians. If we cannot fully invest in education we dissolve the very force that will propel Missouri onward. The children of Missouri deserve to have an equal chance no matter from which district they attend. We need to ensure they have career opportunities waiting for them to encourage them to stay in Missouri. Please tell your Senator to vote NO to HB 2540 and SB 674.
Sincerely,
Your Name
PTA Unit
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Kristina Wilmoth
VP and Director of Legislation and Advocacy
[email protected]