In a surprise move, Gov. Matt Blunt on July 6 vetoed an omnibus economic development bill that would have cost the state at least $200 million a year and perhaps substantially more. The governor’s action could prompt a special legislative session in September to pass a scaled-back version on the bill.
The governor originally proposed HB 327 to expand the amount of tax credits available under the Quality Jobs program the General Assembly enacted in 2005. The legislature, in particular the Senate, loaded up the bill with all manner of additional tax breaks for various special interests, including $100 million over several years for a single St. Louis-area developer.
In addition to the cost, Blunt cited numerous flaws in the bill among his reasons for vetoing it and said many of the proposed tax breaks would have done little to improve the state’s economy. Blunt said he’s willing to call a special session on the issue if legislative leaders agree on a package that costs $50 million to $70 million. House Speaker Rod Jetton, R-Marble Hill, seemed cool to the idea in telling The Associated Press: “I would vote to override that veto.” An override, however, appears unlikely. “I am not interested in overriding the governor,” Senate President Tem Michael Gibbons, R-Kirkwood, said.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment