💨 Abstract

Missouri is on the brink of exempting capital gains from its income tax, making it the first state to do so. The legislation, approved by the Republican-led legislature and awaiting Gov. Mike Kehoe's signature, aims to stimulate economic growth but faces criticism for primarily benefiting the wealthy. Proponents argue it will encourage investment, while opponents warn it could worsen economic and racial inequalities and reduce tax revenue for public services.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖