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News Brief

May 2, 2011SAVANNAH, MO |  By: Wayman

Missouri Tax Credits

A tax credit reform and an economic development package from Missouri lawmakers is on its way to becoming law.

Senators have passed the House's version, which is designed to save the state anywhere from 100 to 150 million dollars a year. Savannah Senator Brad Lager says too many tax credits are costing the state money and the package on the governor's desk is going to re-allocate economic incentives for doing business in Missouri rather than using strategies left from the 1980's and 90's. He adds it will mean a one to one ration of return on tax credits.