China Hub Bill Takes a Blow

6 years 8 months 1 week ago Wednesday, September 14 2011 Sep 14, 2011 Wednesday, September 14, 2011 5:17:00 AM CDT September 14, 2011 in News
By: Jonathan Ketz
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JEFFERSON CITY - Missouri senators rejected the proposed plan that would put $360 million worth of tax credits toward helping develop facilities at the Lambert Airport in St. Louis. An amendment to the bill cuts about $300 million of the credits out.

"This is a work in progress," Missouri Governor Jay Nixon said. "We feel that if you look at this that it's important to have the 'freight forward' part in it, so that you can frame this up and that there are methods through the Compete Missouri portion of this to help infrastructure."

The 'freight forward' part of the bill gives tax breaks to people who trade freight at the airport at am amount of 35 cents per chargeable kilo. The senate also cut out part of the China air cargo bill which would have taken out the tax breaks some elderly and disabled Missourians get. Had the senate kept the repeal in the air cargo bill, the state would have saved 58 million dollars.

Among other things in the air cargo bill, the bill tries to give tax incentives to sports commissions who can get 'big time' sporting events into the state along with companies who try to create more jobs. The job creation part of the bill is called "Compete Missouri."

 

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