JEFFERSON CITY, Mo. (AP) - Governor Jay Nixon flew around Missouri last year touting a new law expanding tax credits for businesses.
Now Nixon is calling on lawmakers to curtail tax credits. Nixon says Missouri's financial woes have worsened to the point that tax credits are sapping money that could be used for public schools, colleges and universities.
Individuals and businesses redeemed about $585 million in state income tax credits last year - an 86 percent increase since 2000. That's four times the growth rate of Missouri's general revenues, which rose by 21 percent during that time.