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Missouri earnings tax initiative remains pending; receives funding boost

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June 7, 2010

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JEFFERSON CITY, Missouri: A proposed earnings tax initiative for the statewide November 2, 2010 ballot remains pending in the Missouri Secretary of State's office, however, that hasn't stopped donations from rolling in. Rex Sinquefield, a retired Missouri philanthropist and initiative sponsor, made an initial donation of an estimated $1.75 million of his own funds to the campaign.[1] In June 2010, Sinquefield made an additional donation of $2.5 million bringing his total donations to $4.25 million.[2][3]

In order to qualify the proposed measure about 95,000 valid signatures must be collected. If approved by voters, however, voters in Kansas City and St. Louis would hold a referendum on keeping the levy in 2011 and every five years thereafter. If the levy is rejected by voters the tax would be phased out and could not be reinstated.[4] Supporters submitted more than 200,000 signatures on April 27, 2010. The Missouri Secretary of State has until August 3 to verify the submitted signatures.[5]

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