The government track record of picking winners and loser is abysmal. You would think that after so many failures they would get the idea that it’s not working. If you are thinking that, you would be wrong!
The House Economic Development Committee heard three bills (HB191, HB182 and HB423) that would expand and create new targeted tax credit programs. Committee members listened to testimony from a packed house of supporters looking for taxpayers to subsidize their business endeavor(s).
From Mayor Sly James of Kansas City to developer Paul McKee, one by one the committee was showered with grand plans and promised returns for taxpayer investment. Special interest groups and lobbyist stood against the walls of the hearing room waiting to get their chance to testify why these new programs would be the panacea for creating jobs in Missouri.
By the end of the night, United for Missouri was the only group to testify that asked committee members to ask these questions about these and any other proposed tax credits:
- Do these bills make Missouri’s tax policy more just, moral and equitable?
- Do these bills stop the practice of government picking winners and losers?
In regards to the bills heard last night in committee, the answer to both questions is NO!