Tax credit review
Wed September 12, 2012
Nixon: tax credit changes to be a priority in 2013
Governor Jay Nixon (D) has reconvened his tax credit review commission to again examine which incentives need to be eliminated or further capped.
In 2010 the same commission recommended sun-setting 28 tax credit programs and capping 33 others. At the time the commission said the move would save the state $220 million. Former Republican State Senator Chuck Gross of St. Charles again chairs the commission.
“The economy is still in the doldrums, both in Missouri and nationally," Gross said. "If tax credits are a drain, the legislature can’t not take notice of that.”
Governor Nixon, meanwhile, says tax credit redemptions have grown to an all-time high of nearly $630 million since Fiscal Year 2010. He wants the commission to issue a new list of recommendations by December 5th.
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