House committee moves ag credit bill
By Ray McCarty, President/CEO, Associated Industries of Missouri
September 19, 2022 - Substantive consideration of Governor Mike Parson's special session for the legislature to consider making around $700 in permanent income tax cuts and extend agricultural tax credits really started today, as committees in both the House and Senate considered bills on those topics.
The House Agriculture Policy Committee met to consider HB 3, sponsored by Rep. Brad Pollitt, this morning. AIM filed written testimony in support of the bill and multiple groups supported the bill.
The committee chairman, Rep. Don Rone, circulated a substitute bill that would include additional issues that were not included in the Governor's call for the committee's consideration.
The only group testifying against the bill was Americans for Prosperity, stating the group opposes the government "picking winners and losers" using tax credits and they prefer broad-based tax cuts. In response, Chairman Rone read a recent analysis of the agricultural tax credits showing the credits returned more than the state invested.
The substitute bill was adopted and the committee passed the bill, which will be considered by a rules committee at 4:00 today. If passed in that committee, it will eligible for House floor debate later this week.