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Committee plan leaves tax credits alone.

January 12, 2004
By: Aidian Holder
State Capital Bureau

A key legislative committee has released its long-awaited report detailing proposals to overhaul the state's tax-credit programs, but, as Aidian (uh-dee-an) Holder reports, the changes may not be that substantial.

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Despite much hype about ending tax credit programs that don't give enough economic bang for the buck, the legislature's Joint Committee on Tax Policy decided not to axe any of them, even leaving the fraud-ridden Rebuilding Communities program unscathed. Instead, the committee is calling for better oversight procedures.

St. Louis County Senator Mike Gibbons chairs the committee. He says the biggest problem is a lack of information about the effect of tax-credits, and only then can the state decide what works.

Actuality:Gibbons
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Contents: Gibbons says they know almost nothing about the effect of tax credit programs.

Gibbons says he'll introduce the plan to the legislaure Wednesday.

From the State Capitol, I'm Aidian Holder.