Tax credit review panel revived
Friday, August 31, 2012
Citing “record redemptions” of Missouri’s 61 tax credit programs in the most recent business year, Gov. Jay Nixon this week asked the Bi-Partisan Missouri Tax Credit Review Commission he created two years ago to update its original report.
But state Rep. Jay Barnes, R-Jefferson City — who headed a House panel that looked at the tax credits issued for a failed sweetener plant in Moberly — on Thursday questioned the governor’s decision.
The panel is set to meet at the Capitol on Sept. 12 — the same day as the Legislature’s veto session.
Their November 2010 report recommended eliminating 28 of the existing tax credits and modifying another 31.
But an ongoing battle between House leaders, who generally favor tax credits as an economic stimulus, and state senators who think they waste money has kept lawmakers from making any major changes.