Gov. Parson touts state tax cut at Springfield event

Making an appearance at a Springfield Area Chamber of Commerce event a week before the Aug. 6 primary election, Gov. Mike Parson used the occasion to throw support behind several current state officeholders, while also announcing a statewide income tax cut.

For the chamber’s seventh annual State of the State event on July 30, the governor once again served as its keynote speaker. The sold-out gathering of 580, which chamber officials said had a capped attendance, was held at Great Southern Bank Arena on Missouri State University’s campus.

Regarding the tax cut, the top income tax rate will lower to 4.7% from 4.8%, as of Jan. 1, 2025. According to a news release, the cut marks the fourth straight year of reductions and equates to a 1.2% reduction since 2018.

“You need to reward the everyday people out there,” he said. “We are proud to announce we have met the requirements to deliver another tax cut for Missourians, the fifth cut of our administration since I’ve been governor.”

The incremental income tax cut was triggered under two bills that state legislators approved in 2022 and that Parson signed into law. The legislation calls for a 0.1% decrease in income tax when general revenue increases by $200 million in a given fiscal year, according to the release. The state’s general net revenue grew by nearly $323 million in the previous fiscal year.

Record refection
During his over 30-minute speech, Parson, whose term as governor will end in January 2025, reflected on his administration’s accomplishments since he took over the state leadership position in June 2018 after the resignation of Eric Greitens. He was reelected to the role in 2020.

Over the course of his six years in office, Parson, a Bolivar native, said he’s remained focused on workforce development and infrastructure. He said more than 175,000 jobs have been added to the Missouri economy since he became governor. The state’s unemployment rate, which was at 3.7% in June, according to the Missouri Economic Research and Information Center, has remained at or below the national average for more than nine years.

“The state support alone has helped land over 40 new businesses right here in Springfield, $300 million in investments and nearly 3,000 new jobs,” he said, regarding local workforce development growth during his tenure.

Dubbing it the largest public works project of its kind in Missouri’s history, Parson said the $2.8 billion Interstate 70 project will be “a game-changer for the state.” He said the $405 million first phase of the project, which will rebuild and expand I-70 into six lanes across the state from St. Louis to Kansas City, is underway.

“I’m telling you that’s going to create jobs,” he said. “It’s going to be a safer place to go. It’s going to give us opportunities we’ve never had.”

The I-70 work also will be a model for other infrastructure projects such as Interstate 44, he said, adding a portion of that will be expanded to six lanes in the north Springfield area. Parson in late June signed the state’s fiscal 2025 budget of $50.5 billion, which includes $577.5 million for I-44 work from St. Louis to Joplin, according to past Springfield Business Journal reporting. The I-44 total was down from $727.5 million in the General Assembly’s version of the budget, as Parson vetoed $150 million from the general revenue fund to be transferred to the I-44 improvement fund.

“I tell you, Springfield, you are on the right track and on the cutting edge of I-44 becoming a whole new economic engine to the city of Springfield and to Greene County,” he said. “Since 2018, we’ve invested nearly $400 million to repair or replace over 50 bridges and 1,100 miles of road in the Springfield metro area.”

Parson said another 26 bridges and 400 miles of road are on tap to be repaired or replaced in the Springfield area in addition to the I-44 improvements, as part of the State Transportation Improvement Plan.

“So, we are not done yet,” he said.

Among those in attendance at the July 30 event was Brian Hammons, president and CEO of Hammons Products Co., who also serves as chair of the Springfield chamber board. He said Parson’s focus and accompanying investments in workforce development and transportation infrastructure have never wavered.

“During this time, we’ve seen that emphasis, that strategic emphasis on transportation and infrastructure development, benefit all businesses in our ability to get products moved from one place to the next,” Hammons said, noting the conditions of interstates, state highways and even county roads are important to his business, which processes black walnuts for food and industrial uses. “We have to use trucks a lot.”

He said conditions of bridges in the area are “much, much better” than they were several years before.

“Safety is much improved,” he said.

Speaking up
The primary election will have nine candidates on the Republican ballot and five on the Democratic ballot seeking to replace Parson. That’s in addition to other contested statewide races, including lieutenant governor, secretary of state, treasurer and attorney general.

Parson said he frequently gets asked who he is endorsing for various offices, noting at the event he is supporting Mike Kehoe, the current lieutenant governor, who is running for governor. Additionally, he supports State Treasurer Vivek Malek and Attorney General Andrew Bailey, who are seeking to maintain their current positions. All three officeholders were appointed to their positions by Parson.

“Every one of them comes from a humble beginning, and I will stand behind the people that stood behind me,” he said. “I’m not telling you what to do, but I’m telling you I know people when they do good work, and they work hard. They deserve another chance at continuing forward.”

Parson also took time to lament the ongoing negative tone of political discourse.

“We are going down a trail, a road of no return. We need to quit trying to destroy people’s character, their honor and their integrity,” he said. “The negative stuff we’re seeing all across this country, even here in the state of Missouri, it needs to stop.”

While Parson’s exit leaves an uncertain future for the chamber event, Hammons said he’s hopeful that whoever becomes the next governor will look to add it to their schedule.

“It’s much appreciated by the membership and by the community, and it’s very helpful and very informative to hear from the governor,” Hammons said. “If not, maybe it’s a top elected official, presenting what’s happening at the state level and how that relates to Springfield region and our priorities here.”