Missouri businessman donates $1.3 million for tax measure

JEFFERSON CITY, Mo. -- Missouri businessman Rex Sinquefield has donated $1.3 million to a committee that supports overhauling the state's tax code.

The committee Let Voters Decide backs a proposed ballot measure that would replace Missouri's income tax with a broader sales tax. Missouri Ethics Commission records show Sinquefield made the donation Monday. Campaign contributions of more than $5,000 must be reported within 48 hours.

Let Voters Decide president Travis Brown said Friday the measure would help to boost Missouri's economy. Brown says he expects to start gathering signatures soon to get the question on a statewide ballot.

Opponents include a group formed by the Missouri Association of Realtors. That group says the proposal would harm the state budget.