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"Tax Credits Get a 'Bad Rap' in Jefferson City"
See this article of the RCGA Special Edition, dated May 18th, 2010: ""Tax Credits Get a 'Bad Rap' in Jefferson City".
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The Coalition agrees with Dan Mehan, President of the Missouri Chamber of Commerce, who said in a press conference shown in the St. Louis Business Journal in April 2010, “Economic development is not anti-education and two should not be pitted against each other. Now, more than ever, Missouri needs a balanced approach that addresses both the needs of job creation and systems to provide an educated work force, The two do not work against each other. They go hand in hand.”
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Charities oppose Nixon's proposed tax credit caps
Representatives of pregnancy crisis centers, children's agencies, domestic violence shelters and Catholic charities teamed up Monday to tout the benefits of tax breaks for benevolent organizations.
Republican House leaders have defended tax credits as good economic development tools and have denounced efforts to sharply curtail them.
Rep. Shane Schoeller, R-Willard, who organized Monday's news conference with the charities, said he wants to delay any changes to Missouri's tax credit system for at least a year so it can be studied further.
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Some charities oppose plan to rein in tax credits
Some charities oppose Gov. Jay Nixon's plan to rein in the state's tax credit programs, fearing that their funding source could be crowded out by politically influential recipients.
Rep. Shane Schoeller, R-Willard, and three other House Republicans held a press conference Monday with organizations that benefit from benevolent tax credits to express opposition to the governor's latest proposal.
Floated just last week, it would cap business and job development tax credits at $150 million, cap subsidies for low-income housing at $75 million and cap the rehabilitation of historic homes and buildings at $75 million annually.
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Charities oppose Nixon's proposed tax credit caps
In March, Nixon's administration proposed reorganizing the state's roughly 60 tax credit programs into six general categories and capping certain tax credits at $314 million per year.
"These tax credits do leverage funds to raise many more times those dollars in local communities," said Cindi Boston, CEO of the Pregnancy Care Center in Springfield.
Republican House leaders have defended tax credits as good economic development tools and have denounced efforts to sharply curtail them.
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