Amendment 7 asks voters to set up a Show-Me Prosperity Fund

Voters on Election Day, Tuesday, Nov. 3, will be asked for their help in the establishment of a Show-Me Prosperity Fund.
This measure allows for the endowment fund to be set up to support state government as oppose to taxing Missouri residents.
It also prohibits the General Assembly from diverting the fund or appropriating it and works to eliminate state-imposed taxes once the fund generates sufficient revenue to replace them.
The State Treasurer would provide notification when the net earnings of the fund are sufficient enough to eliminate the state-imposed taxes.
The total amount of money to be appropriated from the fund in a fiscal year would be capped to 3% of the average market value of the fund over the preceding five fiscal years.
In the event the fund is unable to meet its obligations as a result of insolvency, a program failure or revenue shortfalls, the General Assembly would retain full authority to appropriate funds from any lawful source to enact legislation establishing or increasing taxes or other revenues as necessary.
A “No” vote will simply leave the Missouri Constitution as it is and keep state-imposed taxes as they currently are in the state.
The Missouri Budget Project says passage would not likely eliminate state taxes for decades and they are not sure it ever does.
That said they do say a “Yes” vote “places funding for critical services such as public education and health care at risk.”
Currently Missouri brings in $18 billion a year in tax revenue from multiple sources.
The MBP says the fund would need to grow more than $600 billion before any actual taxes are eliminated. There are also some concerns that lawmakers could chose to divert state dollars to the fun during a time where Missouri already has a $2 billion budget shortfall.
The Missouri Republican Party is encouraging a “Yes” vote on Amendment 7.  They note that this is the Alaska Permanent Fund model applied to a Missouri smaller government over time. They note that it also provides discipline on future budgets and provides a real inheritance for grandchildren.
The Missouri Democratic Party encourages a “No” vote. The Missouri Retired Teachers Association (MRTA) opposes Amendment 7 and encourages a “No” vote. The League of Women Voters also encourages a “No” vote.