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Missouri House advances bill to eliminate state capital gains tax
Summary
Lawmakers adopted a committee substitute for House Bill 594 (and related bill 508) that would eliminate Missouri's state capital gains tax; sponsors argued it would spur investment and growth while opponents warned of large revenue losses to general revenue and impacts on services.
Representative (Pike County), the bill sponsor, described the House committee substitute for House Bills 5 94 and 5 08 as "an elimination of capital gains taxes," saying supporters included agriculture, real estate and business groups and noting broad committee support. "This bill is all about stimulating growth of Missouri's economy to generate high paying jobs," a proponent said on the floor.
Supporters argued eliminating the capital gains tax would unlock…
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