UPDATE: Missouri finances to take hit from higher federal tax

Wednesday, January 9, 2013 | 4:01 p.m. CST; updated 7:42 p.m. CST, Wednesday, January 9, 2013

JEFFERSON CITY — Missouri's finances could take a $60 million annual hit because of a recent 2 percentage point increase in federal Social Security payroll taxes, according to the state's budget director.

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