Increases in state government spending would be limited under a constitutional amendment endorsed Thursday by the Missouri House.
Annual increases would be capped at a growth limit that is the sum of the annual rates of inflation and population change, plus 1.5 percent of the revenue collected by the state in the previous year. Extra revenue would go toward state debts and budget funds. Eventually, money could be returned to taxpayers through a tax cut.
Annual increases would be capped at a growth limit that is the sum of the annual rates of inflation and population change, plus 1.5 percent of the revenue collected by the state in the previous year. Extra revenue would go toward state debts and budget funds. Eventually, money could be returned to taxpayers through a tax cut.
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