Governor Mike Kehoe signed two significant pieces of legislation into law Thursday, touting the measures as a win for Missouri families, job creators, and small businesses.
The new laws—House Bills 567 and 594—represent a cornerstone of Kehoe’s economic agenda, focused on tax cuts, regulatory rollback, and small business support.
House Bill 567, sponsored by Rep. Sherri Gallick and Sen. Mike Bernskoetter, modifies employee compensation laws by keeping the state’s $15 per hour minimum wage but repealing automatic increases tied to inflation. The bill also eliminates state-mandated paid sick leave policies, which Kehoe said placed undue burdens on small businesses.
House Bill 594, sponsored by Rep. Chad Perkins and Sen. Curtis Trent, delivers sweeping tax changes. The law creates a new capital gains income tax deduction for individuals beginning in 2025, and extends that deduction to corporations once the state income tax rate drops to 4.5%. It also boosts property tax relief for seniors and exempts key hygiene products from state and local sales taxes.
Additionally, Kehoe signed six more bills aimed at financial reform, agency oversight, and radioactive waste investigation funding.
