State treasurer returns from tax reform discussion in D.C.

Missouri Treasurer Eric Schmitt recently returned from a visit to the nation’s capital to discuss tax reform with white house officials, including Vice President Mike Pence.

Congressional Republicans hope to pass the Tax Cuts and Jobs Bill by the end of the year, and Schmitt is fully supportive of their effort. Schmitt says the bill would “[spur] economic activity by allowing people to keep more of their own money.”

Schmitt says it is “unknown” how the proposed tax plan would affect Missouri’s state budget.

According to the Congressional Budget Office, the proposed bill would reduce the federal budget deficit by $338 Billion by 2027. But the number of people with health insurance would drop by 4 million by 2019.