Speaking directly to everyone who wanted to see KC's earnings tax killed, I know the last 24 hours have been a letdown for you guys. I admit, I didn't agree with you, but I can empathize with seeing a campaign you worked hard on not go your way.
So when I saw that some tax reform actually did make it through the Missouri political process yesterday, I thought you guys would want to hear about it. I'm not completely heartless. This post is for you, and for the hardworking men and women at the KC Ford plant.
Yesterday while we were at the e-tax polls, a bill designed specifically to address economic woes at our local Ford Motor Plant was passing the House by a 152-1 vote. Now the bill needs to make it through the Senate. For more on that process, see this School House Rock video.
Anyway, the bill broadens an existing law, which allows companies to
retain half their employee withholding taxes if they improve their
factories for new or expanded product lines, so that the KC Ford people can take advantage.
This is the second big tax break the plant has received this year, along with the news that it would get $400 million in upgrades to produce a new Ford F-150 and, best of all, would keep its 3,750 full-time employees working.
Is that good for you guys? I feel like that should be a good thing.
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But in this case they expanded an already existing law so that it would apply to more businesses - in this case the Ford plant. Is that better or worse than passing a law just for Ford, or is it a wash?
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