Gov. Nixon vetoes tax breaks
Wed, 11 Jun 2014 19:01:57 GMT —
Missouri Gov. Jay Nixon has vetoed several bills that he says would have jeopardized the state budget by providing special tax breaks to particular industries.
The legislation vetoed Wednesday includes measures providing sales tax breaks for such things as computer data centers, power companies and restaurants. The tax breaks would have applied to certain equipment or electricity used by the businesses.
The Democratic governor has said the tax breaks approved by the Legislature on its final day of session could have reduced state revenues by $425 million annually and local revenues by an additional $351 million.
Republican legislative leaders have disputed those figures. They have defended some of the tax breaks as mere clarifications of policies that they contend have been incorrectly applied by the Department of Revenue.