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Missouri House approves new business tax credit bill

Thursday, April 30, 2009 | 4:20 p.m. CDT

JEFFERSON CITY — The Missouri House is again sending the Senate a series of business tax breaks designed to spur economic development.

The legislation breezed through the House on Thursday, but it's already facing trouble in the Senate.

The House bill would expand the popular Quality Jobs Program that allows employers to earn a tax credit and keep the withholding taxes of newly hired workers who earn average wages. The legislation also extends tax breaks for investors and for companies building new plants.

But it doesn't include caps on tax credits or increased oversight that has been demanded by some Senate Republicans. That led to opposition Thursday from some senators.

Lawmakers have about two weeks to pass bills before the session ends.

 


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