Tax Credits

As advocates are eager to expand eligibility for use of public funds for private schools, MOScholars participants face months-long waits for tuition aid.

In an effort to reach zero carbon emissions by 2050, the Biden administration is offering more tax credits for carbon capture sequestration and utilization. The program once expected to cost $3.2 billion now could exceed $100 billion.

The legislation received almost unanimous bipartisan support in the House on Monday with a vote of 154-2. Since the House passed the Senate bill with no changes made, the measure now goes to the governor.

A new report found many families earn too little to qualify for the $2,000 federal benefit, which is tied to a family’s earnings and income taxes. Nearly a quarter of the Missouri children who fall into the gap are Black — higher than the state's overall population of Black kids.

New members added to a crucial committee at the last minute staved off an early death for part of Gov. Mike Parson’s special session agenda.

Both Senate bills now go to the House. In addition to the special session, the annual veto session ended on Wednesday, with no legislation overridden by lawmakers this year.

The bills the Missouri Senate advanced on Tuesday do contain an income tax cut and a series of agriculture tax credits, but do make significant changes compared to what Gov. Mike Parson initially requested.

The new program is now accepting both applications and donations.

Parson’s announcement comes after he vetoed a bill Friday authorizing a one-time, nonrefundable tax credit. On Thursday, he vetoed the $500 million allocated for the credit, foreshadowing a rejection of the credit itself.

The bill, passed by lawmakers during the recently completed 2022 legislative session, would provide a one-time, nonrefundable tax credit for those who paid income tax this year. However, Gov. Mike Parson has expressed concerns over the bill.