UPDATE: Mo House May try to Re-insert $300 Million Senate Cut from China Hub
JEFFERSON CITY, Mo. (KMOX) – Senate Republicans are scaling back a plan offering tax breaks to spur international trade at the St. Louis airport. But it isn’t over yet.
KMOX Jefferson City Bureau Chief Phil Brooks says House leadership is expected to try to re-insert the $300 million cut by the Senate and then attempt to ram the bill through the Senate.
Earlier today, citing a lack of votes, Republican leaders in the Senate slashed the $300 million in tax breaks for developers who would build warehouses used in the China Hub operation.
The Bill’s Sponsor, Senator Eric Schmitt (R-Glendale) tells KMOX’s Mark Reardon there are more moves to come before the bill is finalized.
“It’s something I think you’ve got to be patient with,” Schmitt said, “You’ve got to continue to work with people and that’s what I’m committed to doing, because there is another chamber.”
The proposed tax breaks for cargo at Lambert-St. Louis International Airport have been a central part of the bill.
As originally proposed, the bill offered up to $60 million in tax credits for companies that handle the logistics of exports and $300 million of tax credits for the construction of warehouses and manufacturing facilities near the airport.
Several Republican senators said Tuesday that the revised plan will keep the tax breaks for handling exports.
But it will not create a special program earmarking tax credits for facilities.
Copyright KMOX Radio and The Associated Press