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February 25, 2013 4:48 PM

Missouri Republicans push $1 billion tax cut plan

The bill, sponsored by Republican Sen. Will Kraus of Lee’s Summit, lowers the top income tax rate to 4.5 percent from 6 percent, cuts the corporate tax rate to 4.75 percent from 6.25 percent and creates a 50 percent tax deduction for all businesses phased in over five years.

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