Mo. Senators to Cut Tax Breaks for Airport Cargo
JEFFERSON CITY (AP) -- Senate Republicans are scaling back a plan offering tax breaks to spur international trade at the St. Louis airport.
The Senate was expected to begin debate later Tuesday on legislation that would overhaul the state's tax incentive programs for businesses. 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.