Missouri Senate passes tax incentives for Boeing

St Joseph News Press ^ | 12/04/13 | Associated Press

[Optimist]

Missouri senators passed legislation Wednesday offering up to $1.7 billion of incentives over two decades for Boeing to assemble a commercial airplane in St. Louis. The Senate's 23-8 vote in a special session sends the measure to the House with just a few days remaining before what Gov. Jay Nixon has said is a Tuesday deadline to submit a proposal to Boeing. (snip) Some of the senators who voted against the plan questioned the wisdom of tailoring tax breaks for a specific company instead of cutting taxes for all businesses or individuals. Nixon vetoed a broad-based income tax cut earlier this year. "This public policy is not healthy for the long-term economic prosperity of Missouri," said Sen. Brad Lager, R-Savannah.

[Optimist]

A good-buddy deal for unions. Construction unions agreed to not demand overtime if worked 24/7 during the 2-1/2 yr construction phase. How different the incentives would have looked if MO was a RTW state and Boeing wouldn't end up being held up by the manufacturing unions on the back end. A point by the Nays was that $1.6B in incentives (ie. NO TAXES) is being pushed by the Dem Gov, but he vetoed an income tax cut designed with full payback built into it(requiring growth to offset the rate cut), and designed to offset loss of businesses to KS who eliminated personal and sub-s income taxes.

[E. Pluribus Unum]

The big-government/big-corporate criminal complex wins again!

[datura]

The Lazy B won’t be going to Misery, sorry. Thank the IAM for insuring that any state that is not RTW is off limits.

[Optimist]

exactly - but it exposes those legislators that would pick winners and losers.... or allows them to “be on the side of unions”

[airplaneguy]

$1.6 billion is a joke. that’s only a few planes. make it $50 billion and they might talk.

[maine yankee]

Does anybody really believe they’re going to move to a state that is not ‘right to work’ ?

[DoodleDawg]

Dig deeper, Jeff City. Washington state is already up to $9 billion in tax incentives to stay.

[DoodleDawg]

Does anybody really believe they’re going to move to a state that is not ‘right to work’ ?

I doubt they'll move at all. They'll rape Washington for all the tax breaks they can - up to $9 billion so far. They'll work out a compromise with the unions. And stay where they are. Moving elsewhere makes no sense. No state is offering the tax breaks Washington is. Building a new facility would cost additional billions. Training the staff would take a couple of years. They have hundreds of orders on the books and can't take the chance for delays.