I get where you're coming from, but legislators are pushing to set aside the funds in advance, and that means a loss of investment in other things, and dollars devalued over time. Plus, this is the biggest tax credit ever in Missouri, and the terms don't provide enough protection. I'd like to see the plant open in KC too, but I think the risk is really steep. There is a definite risk, given the cuts in important state works like medicaid. I can see the legislature asking for a tax increase (I think there is already talk of that in some instances) and I think a lot of people would be inclined to say yes, let's support these priorities. But if THIS is in the budget, then I think reinstating medicaid for those who were cut on 05 should come first. I think with large-scale developments like this, Missourians by and large should be paying more directly for what benefits them, and just because they did it wrong in the past doesn't mean it should be payback time again at the expense of taxpayers. The real risk is if they DO show up and continually need more and more tax relief. Frankly, I'd like to see those tax credits go back to the people.
Thinking outside the budget is more like it. What legislators want to happen is for this money to be set aside in a fund for Bombardier's corporate welfare, but that puts Missouri at risk. If they open the facility in Montreal instead, all of that money devalues over time, and we lose. There is no safety net for repayment if they don't take the contract. If they don't produce an amazing number of jobs and pay back tax credits with interest, we lose. We're giving away the farm on this one.
And this is the same Governor Blunt who has been working to get $40 million (for 22 years!) for tax bribery to Bombardier? Higher ed loans are critical, and I think they're a priority for everyone in the state. Somebody needs to be making choices that reflect Missouri's priorities. It would be a shame to create all these jobs and not have the graduates to fill them.
Another missed opportunity?
I get where you're coming from, but legislators are pushing to set aside the funds in advance, and that means a loss of investment in other things, and dollars devalued over time. Plus, this is the biggest tax credit ever in Missouri, and the terms don't provide enough protection. I'd like to see the plant open in KC too, but I think the risk is really steep. There is a definite risk, given the cuts in important state works like medicaid. I can see the legislature asking for a tax increase (I think there is already talk of that in some instances) and I think a lot of people would be inclined to say yes, let's support these priorities. But if THIS is in the budget, then I think reinstating medicaid for those who were cut on 05 should come first. I think with large-scale developments like this, Missourians by and large should be paying more directly for what benefits them, and just because they did it wrong in the past doesn't mean it should be payback time again at the expense of taxpayers. The real risk is if they DO show up and continually need more and more tax relief. Frankly, I'd like to see those tax credits go back to the people.
April 28, 2008 at 9:39 p.m. ( permalink | suggest removal )
Another missed opportunity?
Thinking outside the budget is more like it. What legislators want to happen is for this money to be set aside in a fund for Bombardier's corporate welfare, but that puts Missouri at risk. If they open the facility in Montreal instead, all of that money devalues over time, and we lose. There is no safety net for repayment if they don't take the contract. If they don't produce an amazing number of jobs and pay back tax credits with interest, we lose. We're giving away the farm on this one.
April 28, 2008 at 10:57 a.m. ( permalink | suggest removal )
MOHELA funds raise eyebrows
And this is the same Governor Blunt who has been working to get $40 million (for 22 years!) for tax bribery to Bombardier? Higher ed loans are critical, and I think they're a priority for everyone in the state. Somebody needs to be making choices that reflect Missouri's priorities. It would be a shame to create all these jobs and not have the graduates to fill them.
April 24, 2008 at 2:42 p.m. ( permalink | suggest removal )