This week the Senate Ways and Means Committee heard legislation (SB 513) that would provide tax relief to average income families. Senator John Lamping (R-Clayton) is proposing a $400 tax credit per dependent child. The tax relief would benefit individuals with adjusted gross income at or under $46,100 or married couples with incomes at or under $92,200. The families targeted for help are typically not eligible for safety net programs, such as Medicaid and food stamps, but often struggle financially. This is especially true of families who choose to send their children to a Catholic school or other nonpublic school since the state of Missouri currently provides no tax relief for these families. Stay tuned for more.
Posted: January 31, 2014