Amendment 7: Show-Me Prosperity Fund
Statewide — all of Missouri
General election · Tuesday, November 3, 2026
- Placed on the ballot by the General Assembly as SS SCS SJR 95, sponsored by Sen. Adam Schnelting (R-St. Charles). Ballotpedia reports it passed the Senate 22-7 on March 23, 2026; the House Journal records final passage 85-56 on May 15, 2026.[1][2][4]
The question on the ballot
Shall the Missouri Constitution be amended to establish a permanent public endowment fund to support state government instead of taxing Missouri residents, prohibit the General Assembly from appropriating or diverting the fund, and eliminate state-imposed taxes once the fund generates sufficient revenue to replace them? State and local governmental entities estimate no costs or savings.[1]
Per the Secretary of State's Fair Ballot Language, a yes vote establishes the “Show-Me Prosperity Fund,” a permanent public endowment fund to support state government with the goal of eliminating state-imposed taxes without impairing the real value of the fund’s principal. The General Assembly could not appropriate from the fund until the State Treasurer notifies it that net investment earnings are sufficient to eliminate state-imposed taxes; annual appropriations would be capped at three percent of the five-year average market value; and the General Assembly could not enact the eliminated taxes, except that if the fund cannot meet its obligations due to insolvency, revenue shortfall or program failure, it keeps full authority to appropriate from any lawful source and to enact taxes. The Fair Ballot Language says the measure would have no immediate impact on taxes. State and local governmental entities estimate no costs or savings.[1]
A YES vote means
“A ‘yes’ vote will amend the Missouri Constitution to establish the ‘Show-Me Prosperity Fund,’ a permanent public endowment fund to support state government with the goal of eliminating state-imposed taxes without impairing the real value of the fund’s principal; prohibit the General Assembly from appropriating or diverting monies from the fund until notification is given by the State Treasurer that the net investment earnings of the fund are sufficient to eliminate state-imposed taxes; cap the total amount of moneys that may be appropriated from the fund in a fiscal year to three percent of the average market value of the fund over the preceding five fiscal years; and prohibit the General Assembly from enacting the eliminated state-imposed taxes ...” (Secretary of State, Fair Ballot Language)
A NO vote means
“A ‘no’ vote will not amend the Missouri Constitution to establish a permanent public endowment fund to support state government with the goal of eliminating state-imposed taxes.” (Secretary of State, Fair Ballot Language)
Official fiscal estimate
Official ballot statement: State and local governmental entities estimate no costs or savings. The Fair Ballot Language adds that, if passed, the measure will have no immediate impact on taxes but could lead to the elimination of state-imposed taxes if the fund's net investment earnings become sufficient.[1]
Arguments made for
- Sen. Adam Schnelting (R-St. Charles), the sponsor, said the fund is not designed to produce quick results: "This is not a get-rich-quick scheme, so to speak. This is not something you should think to yourself, 'I'm gonna vote for this because in 15 years we're not gonna have taxes.'"[3]
Arguments made against
- Sen. Doug Beck (D), who opposes the amendment: "I don't see how we do this in a time where we're gonna have issues with funding in general to try to set aside some funding to do this." He said the measure would raise the cost of living in the short term.[3]
Research notes & limits
Verified that the Secretary of State lists exactly five measures for Nov 3, 2026 (Amendments 3, 6, 7, 8 and Proposition A). Official ballot title, fiscal statement and Fair Ballot Language are quoted verbatim (machine-checked) from the Missouri Secretary of State's certified-measure page. Missouri publishes no state voter pamphlet with pro/con arguments, and KFVS reports there is no formal campaign for or against Amendment 7, so each side has one legislator's remarks from the KFVS report. The earlier quotes attributed to the Beacon and to a Cato Institute analyst came from a summarizing tool and could not be verified (the Beacon returned 403), so they were removed. KFVS also quotes Traci Gleason of the nonpartisan Missouri Budget Project (a $250 million one-time investment would take 125 years to compound to the roughly $600 billion needed to replace state tax revenue); that analysis is not used as an argument. Added Oct. 19: no currentLaw field (the official materials describe no existing comparable fund). Only one argument per side could be sourced verbatim; the Show-Me Institute's Patrick Tuohey criticized the fund's feasibility but said he supports the broader idea of investing state money, so he is not listed as an opponent. No campaignFinance field: KFVS reported on Sept. 28, 2026 that there is no formal campaign for or against the amendment, and no filing totals were found.
Sources · 5
Researched 2026-10-19. Green citations are official government records.
- 1.2026 Ballot Measures (certified for the November 3, 2026 general election) · Missouri Secretary of State Official record
- 2.Missouri Amendment 7, Creation of Show-Me Prosperity Investment Fund for State Tax Reduction and Elimination Amendment (2026) · Ballotpedia Reference
- 3.Missouri voters to decide on fund aimed at eliminating state taxes · KFVS12 · 2026-09-28 News report
- 4.Journal of the House, May 15, 2026 (SS SCS SJR 95 final passage) · Missouri House of Representatives · 2026-05-15 Official record
- 5.Missouri senator proposes creating investment fund to eliminate all state taxes (Missouri Independent, via Yahoo News) · Missouri Independent · 2026-02-24 News report