Bill > SJR31

This joint resolution proposes a significant constitutional amendment to Missouri's tax system that would fundamentally reshape the state's fiscal structure. The resolution seeks to eliminate the personal income tax starting January 1, 2027, and establishes new constraints on government spending by implementing a population-based appropriation limit for the state legislature. It creates two new funds - the Tax Reform Fund and the Budget Responsibility Fund - which will be funded by surplus revenue and designed to progressively reduce state sales and corporate income taxes. When surplus revenue exceeds $1 million, these funds will trigger automatic tax rate reductions, with the goal of eventually reducing the state sales tax to 4% and eliminating the corporate income tax. Additionally, the resolution establishes a Strategic Gold & Silver Reserve Fund to physically purchase and store gold and silver within Missouri's borders, with strict limitations on selling or transferring these assets. The proposed changes also modify existing constitutional provisions about sales and use taxes, including capping the state sales tax rate and introducing a new 6% tax on lobbying services. If approved by voters in the 2026 general election, these reforms would represent a significant overhaul of Missouri's tax policy and government financial management.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=348