China Hub Bill Still Alive, But Barely
JEFFERSON CITY, Mo. (KMOX) – The Missouri house has pushed through the China hub bill after putting in nine amendments and leaving out tax credit sunsets.
Senate leadership says a tax bill with no sunsets doesn’t stand a chance, but the House passed China hub anyway. Speaker of the House Steve Tilley says he hopes the Senate is willing to compromise.
“They can just take up the bill and pass it and we can all save a day or two, but if at the end of the day they feel like that there’s a few things in there that they can’t accomplish or can’t deal with, then clearly the House has always been willing to work with the Senate.”
Also added to the bill was a lower tax rate for every Missouri corporation and expansions for real estate development tax credits. And that brought heat from Democrats like Representative Mary Still. She argues Missouri’s tax rate for businesses are already some of the lowest.
“We are one of the highest corporate taxes in the world.” “No that is not true gentleman, right now when we look at the state of Missouri we are one of the lowest corporate taxes in the country.”
Although Still and other Democrats fought against the amendment, most of them ended up voting for the bill in it’s entirety. Leadership from both parties acknowledged they weren’t sure how much the lower tax rate would cost the state, but they estimated around $40 million.
The bill passed the House by a vote of 98 to 48 and heads back to the Senate Tuesday. The Senate will take the issue up when they resume Tuesday.