China Hub Incentives Set to be Axed
JEFFERSON CITY - One of the biggest items on the agenda for the session will take a major blow Tuesday, according to the Senate's Majority Leader.
Missouri Senators are preparing to lop off $300 million in tax incentives. Senate Majority Leader, Rob Mayer, R-Dexter, said the cuts comes because the Senate was unable to get the necessary votes for the China Hub bill.
The proposed China Hub bill would provide tax incentives to international shippers doing business at Lambert Airport in St. Louis.
The original 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 development of facilities to support the increased shipping.
The Senate is set to restart debate on the bill at 2 p.m. Tuesday, according to a Senate Majority spokeswoman. Senators could pass the bill as soon as this afternoon.
The China Hub plan is a central focus of the special session, along with other job development and export incentive packages.
The special session started on September 6. Governor Nixon has said he hopes the special session will last no longer than two weeks.