When disaster strikes in Missouri, our hardworking agricultural producers are eligible to receive payments as part of a relief program to compensate them for damage. But this relief is taxed as income, drastically reducing the payout these farmers and ranchers receive.
Now, Governor Nixon is considering a veto of Senate Bill 641. SB 641 creates an income tax deduction for agriculture disaster relief payments and puts money back in the pockets of hardworking Missourians.
Agriculture disaster relief is the only disaster relief that is taxable in Missouri. Democratic Governor Jay Nixon's veto is kicking our agricultural producers while they are down, and I won’t stand for it.
Legislative researchers project that SB 641 would save agricultural producers up to $12 million, but Gov. Nixon claims that the tax breaks could prevent him from balancing the $27.3 billion budget. While politicians on the radical Left, like Attorney General Koster, are proposing Medicaid expansion that would cost $26.2 billion over the next 10 years, Nixon is threatening to withhold $12 million - just 0.04% of the budget - in disaster relief from farmers and ranchers that would help get them back on track. Once again, the liberal math of Chris Koster and Jay Nixon does NOT add up.
Agriculture is the number one industry in Missouri. We must always make it a priority, and keep it a priority. I will not be silent while the radical Left continues to attack our farmers and ranchers by pouring more tax burdens on them.
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