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Van Hollen introduces federal 'climate superfund' legislation; Trump campaigns in Western states as Harris focuses on critical Pennsylvania; Stalled Child Tax Credit leaves Ohio families in limbo; Federal funding drives PA's increase in electric school buses.

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Marjorie Taylor-Greene condemns remarks by a right-wing activist, immigrants to Ohio spark conspiracy theories and heated campaign controversies, and the Children's Defense Fund pushes for more attention to child poverty.

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Rural voters weigh competing visions about agriculture's future ahead of the Presidential election, counties where economic growth has lagged in rural America are booming post-pandemic, and farmers get financial help to protect their land's natural habitat.

Missouri's taxes require more from low and middle-income families

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Wednesday, January 31, 2024   

New data show Missouri has the 35th most regressive state and local tax system in the country.

The Institute on Taxation and Economic Policy found the bottom 20% of earners pay three times more in taxes than the top 1%.

Carl Davis, research director for the Institute on Taxation and Economic Policy, said the state's reliance on property taxes to fund government means some families are paying more to keep a roof over their heads.

"It can make it more difficult to put food on the table, to keep the lights on, all these basic expenses," Davis explained. "It really can create financial stress in the household."

Davis pointed out for those making less than $35,000 a year, nearly 9% of their income goes to state and local taxes, while those earning more than $700,000 pay less than 3%.

Nationwide polls show Americans believe those who make more should pay more, including support for the Billionaire Minimum Income Tax, which would require the wealthiest households to pay a minimum tax of 20% on all their income. Reports show some skirt income taxes altogether.

Davis argued states' regressive tax systems are driving a wedge between the 'haves' and 'have-nots.'

"They reserve their lowest tax rates for people who already have the most," Davis stressed. "The result is even more inequality than where we started."

Davis noted tax systems are a policy choice and it is up to the public and their elected officials to decide whether to continue the status quo. He added Missouri could look to states like Vermont and Maine, which not only offer refundable tax credits, but reserve their lowest overall tax rates for low-income families. Critics of such plans contended they are a form of wealth redistribution and punish the wealthy.


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