Missouri Tax Credit News
Where are Missouri Tax credits going in the 2012 Legislative Session - February 08, 2012
It's that time of year again. The Missouri Legislature is back in session. Headlines and Op Ed pieces talk about the necessary demise of Missouri tax credits. Education is being robbed of vital dollars, the budget has a massive shortfall, etc. So what do we think is going to happen to Missouri tax credits in this session? ABSOLUTELY NOTHING!
Why you ask? Missouri government is in complete gridlock. A special session was called this past summer and absolutely nothing was agreed upon. Yesterday, February 7th, Missouri had a presidential primary at a cost of $7 million to Missouri taxpayers. The election has no impact as no delegates can be awarded. So why was it held? The Republican party changed its rules last year and indicated that states that hosted their primaries early would lose half of their delegates. Governor Nixon vetoed the provision to move the primary, so it remained in place. The solution to avoid delegate loss was to not use the results to award delegates! Are you getting a flavor for the chaos yet?
By the way, the Missouri Department of Economic Development is without a leader. Governor Nixon presented them with a candidate. The Senate refused to consider his nomination because they thought he was too young at age 36. So he withdrew and the spot is being held by a 33 year old interim director!
Our annual prediction remains the same as last year. There will be no major changes to tax credits in this legislative session. Today is February 8, 2012. We will know in May if we were correct.
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