Missouri Voters Reject Amendment 7 Tax Endowment Proposal

Missouri voters rejected Amendment 7 on November 4, 2026, defeating a proposal to establish the Show-Me Prosperity Fund. Unofficial results from the Missouri Secretary of State's Office indicate the measure failed with approximately 39% of the vote. The proposed fund would have been managed by the state treasurer and invested in an index like the S&P 500, with the long-term goal of using compound interest to phase out individual income, corporate income, and sales and use taxes.

Adam Schnelting, a Republican state senator and sponsor of the legislation, argued the fund would create a new funding model for government operations to benefit future generations. Unlike sovereign wealth funds in Alaska or Texas, Missouri's plan relied on legislative appropriations, donations, and grants rather than natural resource revenues.

Opponents, including Democrats and the Missouri Budget Project, questioned the fund's viability. Critics pointed to a projected $2 billion budget deficit and warned that the legislature might divert money from the General Revenue Fund, which supports corrections and public schools, to seed the investment. This defeat follows the August primary rejection of Amendment 5, another proposal that sought to phase out income tax in favor of higher sales taxes.