Missouri Voters to Decide on Amendment 7 Proposal
Missouri voters will head to the polls on November 3, 2026, to vote on a constitutional amendment to create a new state fund.
Updated on Oct. 28, 2026 in Financial Planning
Live Poll
Should Missouri prioritize future tax elimination over current funding for public services like education and healthcare?
Missouri voters will decide on November 3, 2026, whether to adopt Amendment 7, a proposal to establish the Show-Me Prosperity Fund. The initiative aims to create a permanent public endowment to eventually eliminate state-imposed taxes through long-term investment earnings.
Why it matters
The measure is designed to phase out state taxes without reducing the principal of the endowment. Proponents intend for the fund to generate enough interest over time to cover state tax revenue, though the process is projected to take over a century.
The plan requires an initial $250 million investment to eventually reach $600 billion through compounding over 125 years. Annual fund appropriations are capped at 3% of the five-year average market value.
The players
General Assembly
This is the legislative body of Missouri responsible for state lawmaking and the potential oversight of the Show-Me Prosperity Fund.
State Senator Schnelting
He is a member of the Missouri State Senate who has publicly commented on the legislative proposal.
Missouri Secretary of State
The office provides official estimates regarding the potential fiscal impact of ballot initiatives on state costs.
The details
Amendment 7 amends the Missouri Constitution to create the fund, but prohibits state appropriations until investment earnings are high enough to replace tax revenue. While the General Assembly cannot enact taxes once eliminated, they retain the power to restore them if the fund faces insolvency or failure.
Timeline
September 28, 2026: State Senator Schnelting and others provided comments on the proposal.
November 3, 2026: Missouri voters will decide on the amendment.
2151: Projected year for the fund to reach its target accumulation.
Market Dynamics
This proposal mirrors historical efforts to establish permanent state endowments, though it spans a significantly longer investment horizon than typical funds. It marks a departure from traditional annual budgeting by attempting to replace tax revenue with sovereign-style wealth growth.
Residents should note that the Secretary of State expects no immediate changes to tax burdens or state costs if the amendment passes. Any potential long-term benefits regarding tax elimination are projected to occur over a 125-year timeline.
The takeaway
This proposal represents a long-term fiscal experiment that would not impact current tax obligations. Voters should carefully consider the 125-year projection and the legislative safeguards intended to address future revenue shortfalls.
Further reading
For more on state-level fiscal strategies, visit Financial Planning.
Live Poll
Should Missouri prioritize future tax elimination over current funding for public services like education and healthcare?
