Some of the original recommendations have been scaled back. The new list calls for shrinking the cap on Historic Preservation tax credits to $90 million, instead of $75 million as proposed two years ago, and reducing the cap on Low Income Housing to $135 million instead of $80 million. The caps for Historic Preservation and Low Income Housing are currently $140 million and $195 million, respectively. The new report also drops the recommendation to put expiration dates on all tax credits.
Within approximately the last twenty years, Missouri ranks among the worst states in which the gap between rich and middle-income households has widened. That’s according to a new report by the Center on Budget and Policy Priorities and the Economic Policy Institute.
As we approach the Thanksgiving holiday, we also take note of the report’s finding in which the gap between the very richest and the poor is even larger with the top 5 percent of Missouri households having an average income 11.7 times that of the bottom fifth.
Take a look at this report from NPR's Planet Money team. How does it compare with your life? Do you spend more on education or health care? What about entertainment? Explore their visual take on the statistics via the link.
For a historic look at spending in America, see our post What America Buys. For more, see our Graphing America series. How do Americans spend their money? And how do budgets change across the income spectrum? The graph below answers these questions. It shows average household spending patterns in for U.S.