Wednesday, June 30, 2010

You get a tax break! You get a tax break! You get a tax break!

Posted By on Wed, Jun 30, 2010 at 10:05 AM

click to enlarge Gov. Nixon's special session just got a lot more special.
  • Gov. Nixon's special session just got a lot more special.

OK, not you, specifically, but plenty of other people would get tax breaks under a measure being considered by the Missouri Legislature during a special session that, for some manufacturers (and old people!), just got a lot more special.

Gov. Jay Nixon called the session specifically for lawmakers to consider tax incentives for Ford's Claycomo assembly plant -- and to potentially save thousands of jobs on the brink of the "Third Depression". But then lawmakers went all Oprah, and suddenly everyone started finding tax breaks under their seats.



From the Kansas City Business Journal:

The Missouri House of Representatives has passed the Manufacturing Jobs Act by a broad margin, 125-19, approving incentives that would benefit Ford Motor Co. and tossing in incentives for data centers.

The bill, for which Missouri Gov. Jay Nixon called a special session, includes a $150 million tax incentive package for Ford (NYSE: F) if it invests in its Kansas City Assembly Plant in Claycomo, Mo., which seems to hover on either gaining or losing jobs. But the bill could have a difficult time finding its way through the Senate, which has been leery of tax credits.

Leery senators will also find breaks for senior citizens and other transportation manufacturers. And even if it does clear the Senate, the measure could be deemed unconstitutional since the Legislature's work went beyond what was intended for the special session.

Meanwhile, the Claycomo Ford guys still wait and wonder if they'll soon join their friends in Unemployment Land, where it's awfully crowded and the food totally sucks.

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