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Taxes and Spending
As a state Senator and state Treasurer, Sarah Steelman has been a proven and strong fiscal watchdog for Missouri taxpayers. She opposed hundreds of millions of taxpayer dollars for a new baseball stadium in St. Louis; fought large pension increases for state legislators; significantly reduced the cost of operating the State Treasurer’s office; prohibited state support of investments held by public officials; voted numerous times to cut taxes and constrain spending; brought over $1 billion back to Missouri, creating thousands of jobs; and stopped the investment of Missouri dollars in companies that support terrorist regimes.
Missouri’s Constitution requires a balanced budget, and Sarah Steelman’s proven record of Missouri experience on fiscal issues means that we will not have out of control Washington, D.C. earmarks, deficits, and pork-barrel spending in Missouri.
With rising fuel prices, food prices, and healthcare costs, Missouri’s families deserve tax relief. Sarah Steelman’s plan to provide tax relief and stimulate Missouri’s economy is simple, and will put nearly $200 million back in the pockets of Missouri families.
- Increase personal exemption deduction for Missouri taxpayers from $2,100 per person / $4,200 per married couple to $2,625 per person / $5,250 per married couple.
- Increase the dependent exemption deduction from $1,200 to $2,100 per dependent.
- Enact comprehensive property tax reform and relief to require tax rates to be rolled back when assessments increase; increase the property tax credit for seniors; and require assessment notices to be mailed in April, not November.
- Form the Missouri Tax Code Review Commission to examine Missouri’s entire system of taxation. Recommendations will be made to the Governor on how to reform the tax system to provide more relief to families and businesses, and stimulate the economy.
- Enact a constitutional amendment to prohibit judges from raising taxes from the bench.
- Eliminate the job-killing earnings tax levied by the City of St. Louis and the City of Kansas City.
- Use the line item veto to prevent Washington style pork-barrel spending.