incentives

(UPI/Bill Greenblatt)

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.

(Marshall Griffin/St. Louis Public Radio)

The Missouri House has given first-round approval to legislation that would expand tax breaks for auto parts manufacturers.

Ford and General Motors already have access to the incentives.  State Rep. Chuck Gatschenberger (R, Lake St. Louis), the bill’s sponsor, says it would expand the benefit to smaller auto parts builders.

(UPI/Bill Greenblatt)

Missouri lawmakers are set to return to the State Capitol next week for a special legislative session.

Both Democratic Governor Jay Nixon and Republican legislative leaders estimate it’ll take no more than two weeks to debate and pass bills dealing with a dozen issues, including air cargo tax credits, social media communications between teachers and students, and local control of the St. Louis Police Department.

(Marshall Griffin/St. Louis Public Radio)

Governor Jay Nixon (D) is traveling around the state this week, urging Missouri lawmakers to pass numerous tax credit proposals during the upcoming special session.

Before leaving today for Kansas City, Marceline and St. Louis, he met with reporters in his State Capitol office.  He told them passing the incentives are crucial for job creation, but that the overall number of tax breaks also needs to be reined in.

Are public incentives likes TIFs and TDDs worth it? An updated report by the East-West Gateway Council of Governments says probably not.