Missouri House endorses tax credit aimed at boosting ports
JEFFERSON CITY (AP) - Supporters say three tax credits moving forward in the Missouri House would encourage economic development and trade.
The House on Wednesday gave initial approval to a measure that would provide tax credits to companies that increase their use of Missouri ports and for international trade facilities that expand or hire new workers.
The bill's sponsor, Republican Rep. John McCaherty, says the tax credit will only be used if companies increase their use of Missouri ports, providing an overall benefit to the state.
Opponents say Missouri spends too much already on tax credits.
The credits are capped for a total of about $6 million.
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