Governor Nixon says tax cut could be 'cataclysmic'
Wed, 23 Apr 2014 13:32:18 GMT —
Missouri Gov. Jay Nixon is raising new concerns that an income tax cut passed by the Legislature could have "cataclysmic" consequences for state revenues.
The Democratic governor said Tuesday that the bill could eliminate taxes on all income over $9,000, punching a $4.8 billion hole in the state budget.
Republican legislative leaders called Nixon's assertion "ridiculous," "absurd" and "laughable."
Nixon did not veto the bill Tuesday but has indicated he will do so.
House Majority Leader John Diehl said Tuesday that lawmakers will attempt to override the veto before their session ends May 16.
An override requires a two-thirds vote in both chambers. That means Republicans would have to vote in block and pick up the support of at least one House Democrat.