This will mean pushing for changes in the corporate franchise tax, either by eliminating the tax altogether or by significantly reducing the corporate franchise tax rate. As an additional method of assisting the state in lowering its tax revenues, the Missouri Chamber will revisit the possibility of calling for the return of federal deductibility on employers' state tax returns. Prior to 1993, employers could deduct from their state taxes 100 percent of the federal taxes they paid, and we want to see this reinstated. This is an issue of fairness. Another avenue for tax relief could be health care costs.
Employers are the purchasers of health insurance for their employees.
Few Missourians would be able to afford coverage on their own. Given the fact that employers are the primary purchasers of health insurance in the state, the skyrocketing cost of this benefit inhibits employers' ability to provide health insurance. Health insurance is available. The problem is affordability. This solution directly addresses the problems employers face in providing this benefit.