income

Mo. Tax Credit Review Commission Releases Updated Recommendations

Marshall Griffin — Fri, 14 Dec 2012 23:57:01 +0000

Missouri Governor Jay Nixon’s (D) Tax Credit Review Commission has released its revised list of recommendations.

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.

Missouri Ranks Among Worst States For Widening Income Inequality

Alex Heuer, Mary Edwards and Don Marsh — Tue, 20 Nov 2012 20:09:01 +0000

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.

Mo. House seeks compromise with Senate on tax credit bill

Marshall Griffin — Thu, 20 Oct 2011 21:43:48 +0000

The Missouri House has done an about-face and now wants a joint committee to negotiate a final version of a wide-ranging tax credit bill that has divided the House and Senate throughout the ongoing special session.

House Speaker Steven Tilley (R, Perryville) had suggested weeks ago that a conference committee wasn’t necessary and that any differences on tax credits could be worked out during floor debates. Senate President Pro-tem Rob Mayer (R, Dexter), meanwhile, had pushed for going to conference because that’s the normal route for reaching compromise on bills. Tilley says he’s decided to take Mayer at his word.

Economic development bill passes, more tax credit action in Mo. House

Marshall Griffin and The Associated Press — Thu, 06 Oct 2011 18:45:50 +0000

Updated 5:14 p.m.

The Missouri House has passed its version of a wide-ranging tax credit bill.

It does not place expiration dates, or sunsets, on historic preservation and low income housing tax credits, as demanded by the Senate. Instead, House GOP leaders hope to mollify the Senate with a new proposal: All tax credit programs would come up for review every four years and be subject to a renewal vote by the General Assembly. The measure is sponsored by House Budget Chairman Ryan Silvey (R, Kansas City).