700 million?! That’s quite an impressive tax cut for the state of Missouri! Do they offer details of what all is being cut?
I think there is a great deal of optimistic accounting in that $700 million figure, but it's still a considerable mix of cuts and some increases. The bill cut income and business taxes considerably but increased taxes on text books and prescriptions and muddied the rules for what constituted income for certain kinds of businesses. I believe the biggest knock against it was the increases that hit seniors and students and even the bill's proponents claim that they didn't mean to do that and would fix it the next session. But I think the consensus among those voting against the override was 'fix it first and then we'll vote on it'. So I expect that will get done in the next session.