House Bill 253, also called the "Broad-Based Tax 2 Relief Act of 2013" which has been discussed at school board and other meetings.
The bill would reduce taxes on businesses in an effort to increase economic development in the state. Governor Nixon vetoed the bill but there is now an effort underway to override the Governor's veto.
Rep. David Wood, Versailles, accepted an invitation from the Moniteau County Democrat Club to discuss the bill and its implications. Wood spoke and answered questions, commenting that he was still studying the bill and planned to make his final vote on what appears to be the best for his constituents, school districts and the state government. Wood represents a district which includes the south part of Moniteau County.
In his regular report to the media, Wood said, "This has been a tough decision but given all of the information that I have collected, I will not support the override of HB 253 in the upcoming veto session."
He explained his decision by stating, "I campaigned that I would be a fiscal conservative and to me that means being a good steward of the money that is sent to the government. I believe that the investment in tax breaks for our businesses is very good and will bring a return in more businesses and more jobs.Â The personal income tax cut will not benefit the economy or the individual enough to warrant the cost.Â The personal income tax cuts need to be distributed to the largest number of taxpayers in the middle who pay the most. The sale tax portions of the bill need to be restructured so that they will keep control in Missouri and make more sense as to what is exempted."
The bill came up at the California R-I School Board meeting on Aug. 21. Several residents appeared to urge the school board to take a stand on the bill by passing a resolution asking that the veto be sustained. Following a brief discussion, during which it was brought up that objections are based on a worst case scenerio, a resolution was passed by a vote of four to two asking that the veto be sustained.