House Speaker-Elect Steven Tilley (R, Perryville) says the report does not take into consideration the financial impact from tax credits, and that cutting them could harm the state budget.
“I can already sense that (the governor is going to) take this report and come up with incorrect conclusions and try and potentially submit us a budget that’s based off potential savings that we don’t believe are there,” Tilley said.
Tilley added that he doesn’t think there is, “(anywhere) near $220 million worth of savings.”
“But we look forward to looking through this and identifying which tax credits have outlived their usefulness and get rid of them.”
And Tilley had this message for Governor Nixon: “Don’t do what you did in the past with federal stimulus and base a budget off $220 million that isn’t gonna materialize.”
The commission appointed by the governor also recommends cutting the annual cap on historic preservation tax credits by more than half.
The 2011 session begins next month.