It appears so far that the Missouri Senate may no longer be the place where tax credits go to die.
In years past, proposed incentives for such things as historic preservation or amateur sporting events would have faced a filibuster threat from a group of fiscally conservative Republicans in the Senate. But the leaders of that group are gone due to term limits, and perhaps that’s why this year’s amateur sports incentives bill was allowed to receive a Senate floor vote. State Senator Will Kraus (R, Lee’s Summit) says the atmosphere has changed.
The Missouri Senate has passed a tax credit measure after hammering out an agreement between GOP leaders and fiscal conservatives who’ve been trying to reign in tax breaks for years.
The agreement would cap historic preservation tax credits at $75 million per year, give a one-year extension to food pantry and other charitable tax breaks, and create incentives to draw amateur sporting events to Missouri. State Senator Eric Schmitt (R, Glendale) urged the chamber to pass it before time runs out on the regular session.