Missouri’s Republican-led legislature enacted the state’s first income tax rate reduction in almost a century Tuesday by overriding the veto of Gov. Jay Nixon (D), who has denounced it as a reckless financial experiment.
The law will gradually cut Missouri’s top individual income tax rate starting in 2017 and make the state just the third in the nation to offer a special business-income deduction on personal tax returns. But the incremental tax cuts will occur only if Missouri’s revenue keeps growing.
The House voted 109 to 46, with Democrat Keith English of suburban St. Louis joining all 108 Republicans. The GOP-led Senate voted Monday to override the veto on a party-line 23 to 8 vote.
— Associated Press
The trustee overseeing the bankruptcy of a Massachusetts pharmacy linked to a 2012 meningitis outbreak that killed 64 people asked a judge Tuesday to approve a settlement that would pay $100 million to victims, families and creditors.
The deal calls for the owners of the New England Compounding Center, which produced a tainted steroid that sickened more than 700 people in 20 states, to contribute $50 million to a fund intended to settle hundreds of lawsuits filed against the company after the outbreak.
The balance of the funds will come from insurers and the potential sale of another company owned by NECC’s investors.
If the deal is approved by U.S. Bankruptcy Court Judge Henry Boroff, plaintiffs could receive payments as early as next year, plaintiffs’ attorneys said.
The Framingham, Mass.-based company shut down in October 2012 after authorities linked it to the worst outbreak of fungal meningitis in U.S. history, the result of drugs it shipped to health providers across the country to be used on patients who suffered back pain. The company filed for bankruptcy two months later.
Sept. 11 remains to be moved to Ground Zero repository: The unidentified remains of those killed at the World Trade Center on Sept. 11, 2001, are set to be moved to a repository at Ground Zero in New York. The 7,930 unidentified remains will receive a police and fire department escort when they travel from the medical examiner’s office Saturday. The repository is in the same building that houses the National September 11 Memorial Museum, which is to open to the public May 21.
— Associated Press