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Holden signs tax exemption bill

October 9, 2001
By: Sara Lane
State Capital Bureau

Missouri taxpayers can keep their whole three-hundred or six-hundred dollar tax rebates from Uncle Sam. Sara Lane has the story from Jefferson City.

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Governor Holden signed a bill Tuesday morning that exempts this year's federal tax rebate from state income tax.

By signing the bill, Holden gives up nearly 30-million dollars in tax revenue during an already tight budget year.

But he says giving up the money is worth it.

Actuality:Holden1
RunTime: :04
OutCue: ...working families.
Contents: Holden said he did not feel it was right to balance the budget on the backs of Missouri's working families.

Senator Mike Gibbons is one of the sponsors.

He says the bill will help nine out of every 10 individual Missouri taxpayers.

From Jefferson City, this is Sara Lane.

Missourians get a tax break this year thanks to the legislature's special session. Sara Lane has more from Jefferson City.

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Governor Holden has finished all the business of the state government special session.

Tuesday morning he signed the session's final bill, allowing Missourians to keep all of their federal tax rebates.

Actuality:Holden2
RunTime: :12
OutCue: ...special session.
Contents: Holden says the session went well because of bipartisan action.

Holden says the final bill will help about 83 percent of state taxpayers.

From Jefferson City, this is Sara Lane.

Most Missouri taxpayers get a break this year thanks to a law Governor Holden signed Tuesday. Sara Lane has more from Jefferson City.

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The bill Holden signed exempts the federal tax rebate from state income tax.

This is a one-time-only tax break that causes the state to forfeit almost 30 million dollars in revenue.

One of the bill's sponsors says at a time of national crisis, it is important to get this bill into law.

Senator Mike Gibbons.

Actuality:Gibbons1
RunTime: :13
OutCue: ...in the state.
Contents: Gibbons says the worst thing we could do is levy a 30-million dollar tax on the workers of the state.

Gibbons says the law will help three out of four married couples and nine out of ten individual taxpayers.