The Missouri House of Representatives recently voted (137-12) to create a new tax credit aimed at encouraging investment in start-up businesses. My colleague, Bruce Stahl recently wrote about this tax credit. Consider this fact, Missouri ALREADY issues hundreds of millions of dollars in economic development tax credits every year. Yet, Missouri is still one of the worst performing states in the nation economically. Do legislators in Jefferson City really think that this tax credit is somehow different than all of the other economic development tax credits already implemented?
The Show-Me Institute has presented several ideas that would help Missouri jump-start its economy. Shouldn’t the state take a serious look at alternatives before adding another drain on the state’s revenue?
