States cranking out even more tax cuts amid cash surpluses

The tax-cutting trend is going full force in states even as some are raising concerns about a slowing economy. The Missouri House on Tuesday became the latest legislative chamber to endorse a $1 billion tax-cutting plan. It needs another vote to advance to the Senate. But several states already have enacted notable tax cuts this year, including Georgia, Kentucky, Michigan, Montana and West Virginia. Tax cuts also have passed and are pending before governors in New Mexico and South Dakota. The tax cuts come as many states have large surpluses. About two-thirds of states enacted some sort of tax relief last year.