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Another way of showing that is to look at Missouri’s Hancock lid.

In the 80’s Missouri enacted a constitutional provision that caps how much revenue growth can happen before the state must issue tax refunds to tax payers.

With the state starting to get surpluses in the 90’s, the legislature enacted tax cuts and implemented tax credits.

As a result of Missouri’s tax policy, we are now more than $4 billion below the conservative growth caps placed in the early 80’s.