Tax Credits Archives - The Missouri Times https://themissouritimes.com/category/policy/business/tax-credits/ Missouri's leading political source. Tue, 12 Dec 2023 22:31:20 +0000 en hourly 1 https://wordpress.org/?v=6.8.1 https://themissouritimes.com/wp-content/uploads/2015/12/cropped-cropped-missouri-state-capitol-e1450739992755-50x50.jpg Tax Credits Archives - The Missouri Times https://themissouritimes.com/category/policy/business/tax-credits/ 32 32 46390521 Priority early childhood education legislation introduced https://themissouritimes.com/priority-early-childhood-education-legislation-introduced/ Tue, 12 Dec 2023 22:31:20 +0000 https://themissouritimes.com/?p=79173 Legislation focused on early childhood education is being praised by the Missouri Champion of Children coalition for addressing the ongoing childcare and early education accessibility and affordability crisis. 

The post Priority early childhood education legislation introduced appeared first on The Missouri Times.

]]>
Legislation focused on early childhood education is being praised by the Missouri Champion of Children coalition for addressing the ongoing childcare and early education accessibility and affordability crisis. 

A poll shared by the coalition shows that 80% of Missourians believe that early childhood education can help parents, children, and local businesses succeed. 

“Missourians across the demographic, political, and ideological spectrum overwhelmingly support affordable, quality childcare and early learning opportunities for Missouri children,” said Brian Schmidt, Executive Director of Kids Win Missouri. 

“This is a crisis impacting children and families, public safety, and our economy.  Significant progress has been made already and, with the support of Missourians and legislative leaders, we look forward to working to strengthen policies and investments in childcare and early education in 2024.”

The first bill filing of the 2024 legislative session saw action to support child care from both chambers. Sen. Lauren Arthur (D-Kansas City) and Rep. Brenda Shields (R-St. Joseph) filed SB 742 and HB 1488. These bills included tax incentives for businesses and individuals for charitable contributions to child care providers. To receive the incentive, businesses must provide childcare to employees. 

“Missourians across the demographic, political, and ideological spectrum overwhelmingly support affordable, quality childcare and early learning opportunities for Missouri children,” said Brian Schmidt, Executive Director of Kids Win Missouri. 

“This is a crisis impacting children and families, public safety, and our economy.  Significant progress has been made already and, with the support of Missourians and legislative leaders, we look forward to working to strengthen policies and investments in childcare and early education in 2024.”

The poll, which was done by Victory Enterprises, was conducted in early October and interviewed 600 likely general election voters. Data  showed that voters of both ends of the political spectrum believe access to quality child care can reduce crime. 

More than 90% of voters also believe having childcare options for families helps to recruit and maintain businesses while supporting the economy. 

“Missouri is facing a childcare crisis that requires us to use every tool in our toolbox to meet the moment,” said Arthur. “In addition to a significant and sustained investment from the state, we also need to make it easier for businesses to help their employees find care. Last year, our childcare tax credit bill received bipartisan support but did not make it across the finish line. This year, we need to get this bill to the governor’s desk so we can help more parents access safe, affordable, quality childcare.”

Arthur is no stranger to education. Before entering politics, she was a middle school teacher. Arthur has also sponsored past legislation relating to education and sits on the Competency-based Education Task Force committee. 

“I am excited to reintroduce the childcare tax credit bill this session,” said Shields . “I believe we have the momentum to pass this important piece of legislation that will increase our state’s capacity to provide high-quality early childhood care. This public-private partnership opportunity leverages our state’s resources for the benefit of our children, our caregivers, and our businesses.” 

Shields also taught in public education before becoming a State Representative. She also has served on the Missouri’s Coordination Board for Early Childhood Education.

The future of these bills will be decided in the upcoming 2024 session which starts in January. 

The Missouri Champion of Children is a coalition that includes child advocates, law enforcement, military, and business and healthcare leaders

The post Priority early childhood education legislation introduced appeared first on The Missouri Times.

]]>
79173
Parson officially issues call for special session, lays out plan for income tax cut https://themissouritimes.com/parson-officially-issues-call-for-special-session-lays-out-plan-for-income-tax-cut/ Mon, 22 Aug 2022 20:25:13 +0000 https://themissouritimes.com/?p=77012 Jefferson City, Mo. — Gov. Mike Parson will bring the Missouri General Assembly into Jefferson City on Sep. 6 to work on multiple tax-related pieces of…

The post Parson officially issues call for special session, lays out plan for income tax cut appeared first on The Missouri Times.

]]>
Jefferson City, Mo. — Gov. Mike Parson will bring the Missouri General Assembly into Jefferson City on Sep. 6 to work on multiple tax-related pieces of legislation.

The most talked about and controversial piece of legislation is Parson’s proposal on income tax cuts that he announced at a press conference Monday afternoon. Parson vetoed HB 2090, a bill that aimed to give both married couples and single filers a tax rebate based on their income tax liability, on July 1.

Parson has come back with a much different proposal than that outlined in HB 2090. On Monday afternoon the Governor outlined his plan to drop the income tax rate from 5.3% to 4.8%. Parson’s plan would also eliminate the bottom tax bracket.

Senate Minority Leader John Rizzo, D-Jackson County, added an amendment to HB 2090 that put an income cap on those who could receive the refund of $150,000 for singles and $300,000 for joint filers. Parson opposed the amendment prior to vetoing the bill, the St. Louis Post Dispatch reported.

“Senate Democrats approved targeted tax relief for working families … the Governor vetoed it,” Rizzo said in a statement. “We’ll carefully review his new proposal … if there is a tax cut it should benefit the middle-class working families in Missouri.”

Parson will meet with Democratic leadership in the House Tuesday to discuss his plan.

Stakeholders, specifically the AARP, previously criticized HB 2090 for being based on income tax liability, meaning Missouri’s lowest earners would see the least amount of help. Parson’s proposal may be able to fix that issue if he gets his way during special session.

“Our tax cut proposal means that every taxpaying Missourian, no matter their background, income, or job description, will see a reduction in their tax liability,” Parson said. “Every Missourian will earn their first $16,000 tax-free and married joint filers will earn their first $32,000 tax-free, resulting in significant savings for millions of Missourians.”

During his press conference, Parson put his proposal in perspective, citing that a senior making $20,000 a year would see a 100% decrease in income tax liability.

Still, the cut being income-tax-based would benefit the wealthy more than lower earners, as paying a lower percentage of income tax becomes more beneficial with the more income one makes. Detractors from the plan have pointed to former Kansas Gov. Sam Brownback’s tax cut disaster, criticizing Parson for using temporary federal relief funds to cover the loss in revenue from tax cuts.

“While Governor Parson focused on how certain struggling individuals might pay less in taxes, the proposals discussed today remain heavily weighted to benefit the wealthiest Missourians,” Amy Blouin, president of the Missouri Budget Project said in a press release shortly after Parson’s press conference.

“Relying on the current surplus to fund permanent tax changes isn’t fiscally sustainable, or responsible, and will ultimately require cuts to state services like we saw in Kansas a few years ago,” she added.

Parson believes his proposal is sustainable, he addressed concerns about reliance on federal money at his press conference.

“We’re not factoring in federal money with this,” Parson said. “This is general revenue in the state … we believe we can sustain this.”

The state may soon have an influx in revenue to cover the income tax cut, pending the legalization and taxation of the recreational use of marijuana. Legal Missouri 2022, the campaign which got marijuana legalization on the ballot through an initiative petition, estimates that legal cannabis would generate $40.8 million annually for the state.

Parson hopes to get the income tax bill done quickly, noting that he’s met with a lot of state legislators, the majority of which have supported Parson’s plan.

“I welcome Gov. Parson’s call for a special session — and I plan to file a bill on the first day to cut taxes for every family in Missouri,” Sen. Lincoln Hough. R-Springfield, said. “Allowing Missourians to make more income before they actually have to file taxes is continuing to remove burdensome government from the lives of everyday Missourians.”

Despite expected pushback from across the aisle and within his own party, Parson believes that he has put a good proposal on the table.

“The Senate rule has the chance to come together, on both sides of the aisle, for what’s good for all Missourians,” he said.

Parson also spoke about his plans for agriculture tax credit programs. Parson vetoed HB 1720 in July over concerns about the two-year extension period. His new proposal extends and creates nearly a dozen tax credit programs for agriculture providers and sets a minimum time of six years before the programs need to be renewed.

“Vetoing an ag bill is not something I took lightly or wanted to do,” Parson said. “But we cannot leave our farmers, ranchers and business owners with a bad deal.”

Featured Image Courtesy of Governor Mike Parson (Facebook)

The post Parson officially issues call for special session, lays out plan for income tax cut appeared first on The Missouri Times.

]]>
77012
Opinion: To raise the next unicorn, our state should increase our commitment to Missouri Technology Corporation https://themissouritimes.com/to-raise-the-next-unicorn-our-state-should-increase-our-commitment-to-the-missouri-technology-corporation/ Thu, 03 Mar 2022 19:27:27 +0000 https://themissouritimes.com/?p=75592 "If we want Missouri to spur entrepreneurship, launch more unicorn startups, and reap the benefits of more high-quality jobs and new economic investment, the state needs to increase its investment in MTC this legislative session."

The post Opinion: To raise the next unicorn, our state should increase our commitment to Missouri Technology Corporation appeared first on The Missouri Times.

]]>
Last fall, St. Louis-based agtech firm Benson Hill rang the opening bell at the New York Stock Exchange and announced a $2 billion deal that took the company public, making it the latest company with Missouri ties to achieve the rare “unicorn” status reserved for startups that reach valuations of $1 billion or more. But, if not for decisions made by the Missouri General Assembly almost two decades ago, the state might have missed out on several successful investment opportunities, as recent unicorns like Benson Hill and Gainsight received early funding from the state’s Missouri Technology Corporation (MTC).

If we want Missouri to spur entrepreneurship, launch more unicorn startups, and reap the benefits of more high-quality jobs and new economic investment, the state needs to increase its investment in MTC this legislative session. 

The MTC was created by the General Assembly to promote entrepreneurship and foster growth of new and emerging high-tech companies. MTC has multiple programs, one being the Innovation, Development and Entrepreneurship Advancement (IDEA) Fund Co-Investment Program that acts as a state-sponsored venture capital program, which creates an infrastructure for accelerating private venture capital into Midwest states like Missouri that lag the coasts in this unique type of capital that is critical to seeding and scaling high-growth companies. MTC was created to solve this unique challenge with a unique solution: it matches state investment with private dollars and on the same terms. This tool has made Missouri more attractive for entrepreneurs and investors and ensures public-backed resources are a catalyst and an accelerator that empowers entrepreneurs to create companies and jobs here, just like Benson Hill.  

Since its founding, MTC has delivered on its charge to transform entrepreneurship in Missouri. Over the past decade, MTC has invested over $45 million into nearly 140 early-stage Missouri-based tech companies, which have raised more than $1.1 billion in additional private capital. An independent audit by the U.S. Department of Treasury confirmed that MTC, and by extension, Missouri, was among the most effective states in the country in using public resources to achieve job creation and pro-entrepreneurship policy outcomes.  

While a big part of MTC’s mission is investing in early-stage companies, another piece of their portfolio is supporting ecosystem building across the state. MTC has partnered with over 60 non-profit organizations in local communities all corners of the state to invest more than $29 million in entrepreneurial-focused infrastructure projects that have served thousands of small businesses across Missouri. Critical to this work, is letting local communities design entrepreneurial small business support systems that work for them, rather than impose a one-size-fits-all approach from Jefferson City.

Unfortunately, since 2017, when it was appropriated $24 million, MTC has suffered repeated budget cuts. Case in point: even after the appropriation for MTC was tripled last year, it only received $3 million. 

The General Assembly has an opportunity to right the ship this year. Greater St. Louis, Inc. and our partners across the state are advocating for an increase in MTC’s budget and for MTC to administer nearly $95 million in federal American Rescue Plan Act State Small Business Credit Initiative (SSBCI) funds, as recommended in Governor Parson’s budget. 

This is not the first time SSBCI funds have been used in Missouri. The program was first included in the American Recovery and Reinvestment Act in 2010. MTC successfully administered the $24 million it was allocated and was used as a success story by the U.S. Department of Treasury in their 2016 evaluation report. According to the report: “Through December 31, 2015, Missouri’s total of $21 million in VCP (Venture Capital Program) investments had been matched more than 10-to-1 by $289 million of new capital investment. The program’s success and regional impact led to a substantial increase in the state’s budget for MTC to continue its investment and venture capital development programs.” 

MTC used SSBCI dollars to successfully fund JBARA Software (Gainsight, acquired by Vista for $1.1B), Confluence Life Sciences (acquired by Aclaris Therapeutics), Arch Oncology (raised $155M), MediBeacon (raised $83M), Adarza Biosciences (raised $64M), and CoverCress (raised $20M), among others. SSBCI dollars were also used to launch MTC’s IDEA Fund Co-Investment Program, which invested $175,000 in Benson Hill in 2013 — eight years before the company’s billion-dollar valuation.

The state must play the long game this session. If we want more jobs, more investment, and yes, more unicorns, the state should restore investment to the Missouri Technology Corporation this year and allow it to administer SSBCI funds. By sowing these seeds of success today we will reap the rewards of a thriving innovation ecosystem tomorrow.    

The post Opinion: To raise the next unicorn, our state should increase our commitment to Missouri Technology Corporation appeared first on The Missouri Times.

]]>
75592
Two projects in New Madrid pending on the outcome of the rural jobs act https://themissouritimes.com/two-projects-in-new-madrid-pending-on-the-outcome-of-the-rural-jobs-act/ Sun, 27 Feb 2022 22:49:09 +0000 https://themissouritimes.com/?p=75384 “We have two projects in New Madrid teed up and ready to go when the legislature approves the rural jobs program,” Richard McGill, the city administrator of New Madrid, said. “We are competing with Tennessee on one and with Ohio on the other, and frankly, this program is the final piece we need to compete and put people to work right now.”

The post Two projects in New Madrid pending on the outcome of the rural jobs act appeared first on The Missouri Times.

]]>
JEFFERSON CITY, Mo. — As the legislative session nears its halfway point, one southeast Missouri city is eagerly awaiting the outcome of a rural jobs bill. The city of New Madrid has been in competition with two other states on projects.

“We have two projects in New Madrid teed up and ready to go when the legislature approves the rural jobs program,” Richard McGill, the city administrator of New Madrid, said. “We are competing with Tennessee on one and with Ohio on the other, and frankly, this program is the final piece we need to compete and put people to work right now.”

The bill, deemed the Missouri Rural Workforce Development Act, has been filed by both Sens. Justin Brown and Denny Hoskins. It would provide an incentive for those making capital investments in a fund to be distributed to rural areas of the state. Participants would be eligible for a tax credit covering 15 percent of an investment annually for four years beginning two years after an investment is made capped at $25 million per year.  

The site in New Madrid that is waiting on the passage of the Rural Workforce Development Act to break ground.

“Time and time again, capital investors tell us that the availability of state tax credits are one of the most critical factors when considering business start-up and expansion proposals,” Brown previously said. “More often than not, they’ll pass by states that don’t come to the negotiating table with their own stake in the game. Investors want to know that state governments are willing to share in the investment and become partners in job creation.”

“We are very grateful for the Department of Economic Development. Their hard work and guidance helps make projects like ours happen. Starting a new business requires many facets of collaboration, including access to capital that commercial banks cannot supply. We implore the Missouri Legislature to pass the proposed rural jobs bill, as positive legislation like this can help supply the final key to maximizing the jobs created by important business projects like ours and others,” said Michael D. Harrelson, Circular SynTech LLC senior vice president of development and operations

Brown’s SB 675 has been referred to the Agriculture, Food Production and Outdoor Resources Committee; Hoskins’ SB 905 was first read last week. 

Only 11 other states have this type of incentive, including Ohio which is competing with New Madrid for a 120 job factory development.  

In rural Ohio, the program has landed more than 50 companies and thousands of jobs. For example, Global Cooling makes lab-grade freezers, one of the few that could hold all of the vaccines on the market. Thus far, the rural jobs program has bolstered Global Cooling to now over 200 jobs at their Athens, Ohio, factory. 

In the proposal, investors who have put at least $100 million in small communities across the country, including $30 million in Missouri, would be eligible to apply with the Department of Economic Development (DED) to receive credits. Recipients would be required to distribute 60 percent of their investment commitments within two years and 100 percent within three years. 

The bill requires 70 percent of investments to be made in rural small businesses with 250 or fewer employees. Agriculture is the state’s top industry, employing nearly 400,000 Missourians and bringing around $88 billion annually. Missouri ranks No. 2 in farms among U.S. states.

“The project in New Madrid is exactly the kind of rural job growth we are looking for in Missouri. While Kansas City and St. Louis are important, rural Missouri is also extremely vital to the state,” Hoskins said. “I look forward to supporting this bill and helping economic development in rural Missouri.”

Rural fund programs would have to submit annual reports to DED and could apply to exit the program six years after an initial investment. DED could recapture credits from investors who do not keep up with the requirements the legislation would create. 

Missouri would receive $166 million in private capital investments in the first three years of the program’s life cycle, increasing revenue through income, sales, and property taxes, according to a study of the program’s effects. Of Missouri’s 114 counties, only 11 boast populations above 90,000 people, according to the center.

 

The post Two projects in New Madrid pending on the outcome of the rural jobs act appeared first on The Missouri Times.

]]>
75384
Galloway releases review of state tax credit programs https://themissouritimes.com/galloway-releases-review-of-state-tax-credit-programs/ Thu, 24 Feb 2022 16:29:10 +0000 https://themissouritimes.com/?p=75361 $2.9 billion in state tax credits have been redeemed in the last five fiscal years; $2.8 billion remain authorized but not redeemed as of June 30, 2020.

The post Galloway releases review of state tax credit programs appeared first on The Missouri Times.

]]>
$2.9 billion in state tax credits have been redeemed in last five fiscal years; $2.8 billion remain authorized but not redeemed as of June 30, 2020

JEFFERSON CITY, Mo. — Missouri State Auditor Nicole Galloway today released a review of state tax credit programs as required by state law. The review compiles tax credit redemptions over the past five years and future obligations. Created by the General Assembly, and codified in state statutes, tax credits are generally a dollar-for-dollar reduction in the amount of state taxes otherwise due from taxpayers. During fiscal years 2017 through 2021, tax credits were authorized, issued, or redeemed through 58 different tax credit programs. Taxpayers redeemed $2.9 billion in tax credits during this period.

Total redemptions of tax credits have continued to increase, and redemptions in 2021 exceeded $600 million for only the second time in state history. The majority of tax credit redemptions over the past five years have reduced individual income and withholding taxes. Tax credit programs have reduced individual income tax collections by $1.148 billion from fiscal years 2017 through 2020.

The top five tax credit programs in terms of total redemptions during the review period were: Senior Citizen Property Tax, Missouri Works, Missouri Quality Jobs, Low Income Housing, and Historic Preservation. Some tax credits have extended carry forward provisions, which allow tax credits that have been authorized or issued in prior years to be redeemed over a long period of time. As of June 30, 2020, the amount of tax credits authorized but unredeemed was approximately $2.8 billion.

A complete copy of the report is available here.

The post Galloway releases review of state tax credit programs appeared first on The Missouri Times.

]]>
75361
Missouri House passes omnibus ag bill with tax credit extensions https://themissouritimes.com/missouri-house-passes-omnibus-ag-bill-with-tax-credit-extensions/ Mon, 31 Jan 2022 12:30:40 +0000 https://themissouritimes.com/?p=75135 Rep. Brad Pollitt said the bill included many "priorities" for the Joint Committee on Agriculture as well as Missouri’s agriculture groups for the year.

The post Missouri House passes omnibus ag bill with tax credit extensions appeared first on The Missouri Times.

]]>
JEFFERSON CITY, Mo. — Less than a month into session, the Missouri House passed an omnibus agriculture package that includes several million dollars in tax credits

HB 1720, sponsored by Rep. Brad Pollitt, includes 10 economic agricultural programs affecting wood energy production, meat processing, biodiesel and ethanol distribution, and other programs for Missouri farmers. 

Pollitt said the bill included many “priorities” for the Joint Committee on Agriculture as well as Missouri’s agriculture groups for the year. He said the bill includes between $10-40 million in tax credits and none are transferable. 

“I think it’s got a little bit in there for everybody,” Pollitt told the Missouri Times. “Normally, I’m not a big tax credit person, but at the same time when agriculture tax credits bring back 2-1 at the very least for every dollar the state invests, I think that’s a good investment.”

The legislation seeks to extend Missouri Agriculture and Small Business Development Authority (MASBDA) tax credits that expired Dec. 31. Under this bill, those credits would sunset at the end of 2028.

MASBDA offers grants, loans, loan guarantees, and tax credits to farmers for marketing, processing, or developing new or expanded uses of agricultural products.

According to Pollitt, MASBDA has produced more than $260 million in benefits since 2000. 

The bill maintains the state’s soybean producers assessment is equal to .5 percent of the net market price of soybeans grown in the state if the federal assessment is ever reduced or eliminated. Now, the federal assessment is .5 percent of the net market price of soybeans grown in Missouri with the state assessment one-half of the national assessment. 

Included in the legislation is a provision that doubled the gross sales required to qualify for the Family Farm Livestock Loan Program to $500,000. It also doubled the maximum amount of the loan for each type of livestock and removed the restriction of just one loan per family. 

The bill also: 

  • Extends the Wood Energy Tax Credit until June 30, 2028
  • Extends the Meat Processing Facility Investment Tax Credit until Dec. 31, 2028, and limits the credit to Missouri-based meat processing facilities that employ less than 500 people total
  • Extends the Agricultural Product Utilization Contributor Tax Credit to Dec. 31, 2028
  • Extends the New Generation Cooperative Incentive Tax Credit to Dec. 31, 2028
  • Authorizes certain incentive programs for biodiesel and ethanol retailers, capped at $20 million and $4 million, respectively
  • Moves oversight of anhydrous ammonia standards from the Department of Agriculture to the Air Conservation Commission

Several of Missouri’s biggest agriculture groups — including the Missouri Farm Bureau, Missouri Soybean Association, Missouri Cattlemen’s Association, Missouri Forest Products Association, and Missouri Pork Association — are supporting this bill. 

Along with economic programs, eminent domain is expected to be a big issue again this session. However, Pollitt’s bill does not have any provision related to eminent domain as it left the House.  

Some Republicans indicated discomfort with the tax credits in the bill during floor debate this week. 

“I’d kind of like to know how many of you are going to benefit from this in some economic way,” Rep. Bill Kidd, a Republican from Jackson County, said. (Kidd voted against the bill.)

HB 1720 passed out of the House 120-30 with an emergency clause attached, meaning the legislation would immediately go into effect upon the governor’s signature. The bill now heads to the Senate. 

“This was a bipartisan bill, we got great support from both sides of the aisle, and I think they’ve got that bipartisan support in the Senate,” Pollitt said. 

All of the 30 votes against the bill came from Republicans, including Speaker Rob Vescovo and Budget Chair Cody Smith. 

During the interim, lawmakers and agriculture groups prioritized creating and renewing agricultural tax credits and other programs. The Joint Committee on Agriculture released a report in December outlining the need for an economic stimulant due to the effects of COVID-19 on the industry. 

The post Missouri House passes omnibus ag bill with tax credit extensions appeared first on The Missouri Times.

]]>
75135
Opinion: Still looking for the perfect gift? Consider the gift of education https://themissouritimes.com/still-looking-for-the-perfect-gift-consider-the-gift-of-education/ Mon, 06 Dec 2021 16:44:26 +0000 https://themissouritimes.com/?p=74678 "This holiday season, while you’re dreaming of a White Christmas, add a little green to a child’s education account."

The post Opinion: Still looking for the perfect gift? Consider the gift of education appeared first on The Missouri Times.

]]>
Somehow, it’s December already, and Christmas is mere days away. 

If you are still looking for gift ideas for any of the children in your life, don’t forget the gift of education and contribute to their MOST 529 Education account. Sure, it isn’t a Red Ryder, carbine action, 200-shot, range model air rifle, with a compass in the stock and this thing that tells time, but studies show that children with 529 accounts are more likely to pursue higher education. 

Treasurer Scott Fitzpatrick

Named for the section of the tax code that governs them, 529 plans are tax-advantaged savings and investment accounts for education expenses. As state treasurer, I oversee MOST, Missouri’s 529 Education Plan. 

Money in MOST 529 accounts grows tax-deferred (and can be withdrawn tax-free when used for qualified expenses). Additionally, Missouri offers generous state income tax deductions for contributions — up to $16,000 if married and filing jointly. As the person making the contribution, you are eligible for the deduction. 

Versatile qualified expenses make the plan a valuable tool for Missourians with any education goal. These include K-12 tuition, and trade, college, apprenticeships, and graduate school tuition and expenses (such as books, computers, and some room and board). Additionally, up to $10,000 may be used for student loan repayment. 

If you are a parent, UGift makes it easier to encourage gift-givers in your life to forgo giving toys, clothes, or other traditional gifts that your child will outgrow in lieu of something that can make a lasting impression. UGift is an easy, free-to-use service that lets family and friends make contributions directly into your child’s MOST 529 account. You can even get the READYSAVE™ 529 app to share your code with a few clicks by downloading it from Google Play or the App Store.

Similar to MOST 529, MO ABLE accounts offer similar financial benefits when saving for individuals with disabilities. Launched in 2017, MO ABLE allows individuals with disabilities and their families to save up to $15,000 per year, tax-free, without losing federal benefits like Medicaid and SSI (up to $100,000). Money in MO ABLE accounts can be used for a variety of expenses, including housing, food, transportation, medical, and education. 

In Missouri, MOST 529 and MO ABLE participants have more than $4 billion saved for the future. We work hard to make MOST 529 and MO ABLE strong and cost-effective plans for Missourians — and in October, MOST 529 was again rated one of the best plans in the country by investment research company Morningstar. 

This holiday season, while you’re dreaming of a White Christmas, add a little green to a child’s education account. 

If you’d like to learn more about either program, visit www.missourimost.org or www.moable.com.  

The post Opinion: Still looking for the perfect gift? Consider the gift of education appeared first on The Missouri Times.

]]>
74678
Lucas Kunce criticizes GOP opponents for China ties in new ad https://themissouritimes.com/lucas-kunce-criticizes-gop-opponents-for-china-ties-in-new-ad/ Tue, 30 Nov 2021 10:00:25 +0000 https://themissouritimes.com/?p=74614 "While I deployed, they stripped Missouri for parts."

The post Lucas Kunce criticizes GOP opponents for China ties in new ad appeared first on The Missouri Times.

]]>
The five-figure ad buy plays in Missouri media markets on Fox News this week

In a new ad that will air across all Missouri media markets on Fox News, U.S. Senate candidate Lucas Kunce criticized some of the top Republican contenders for the seat over their ties to China. 

The 30-second spot touts his own military record but called out Congresswoman Vicky Hartzler, Attorney General Eric Schmitt, and former Gov. Eric Greitens for connections to China. The five-figure ad buy will air across Missouri media markets on Fox News in primetime, which includes Tucker Carlson and Sean Hannity’s shows, beginning Tuesday. 

“While I deployed, they stripped Missouri for parts,” Kunce said in the ad provided early to The Missouri Times. “They sold our land to China, they bowed down to Chinese state TV, and they took money from Chinese corporations. In Iraq and Afghanistan, we’d call that aiding the enemy.” 

In the ad, Kunce dons a plaid flannel shirt and black jacket with a barn and tractor in the background. 

Specifically, Kunce’s ad included footage of Greitens appearing on the China Global Television Network, owned by the Chinese Communist Party, for a lengthy interview when he was still the governor of Missouri and in China for an international trade mission. Kunce’s ad included a headline from the conservative Townhall website which said Greitens praised China and the Chinese Communist Party during the interview. 

The spot included Hartzler with a headline accusing her of taking money a Chinese company’s corporate PAC. (She received $1,000 from Smithfield Foods, a subsidiary of the Chinese WH Group, in 2014.) 

It also included Schmitt: While he was in the state legislature, Schmitt was a vociferous proponent for a since-defunct plan to use tax credits to entice China to build a hub at the Lambert-St. Louis International Airport. Those who supported the plan to build the global cargo hub said it would increase economic development in Missouri.  

“Lucas Kunce served his country for over a decade as a U.S. Marine, defending the American people from our enemies. But during that same time, our politicians sold us out to China and helped massive multinational corporations wage economic warfare against our communities here at home,” Caleb Cavarretta, Kunce’s campaign manager, said. “In his campaign for U.S. Senate, Lucas Kunce is taking the war to them.” 

Kunce has been drawing national media attention of late with a cover story profile in Politico Magazine and a feature in the conservative Washington Times. VoteVets, a PAC focused on defense policy and electing veterans to public office, has backed Kunce in his campaign. 

In the last campaign finance cycle, Kunce brought in more contributions ($849,206) than any other candidate, Republican or Democrat. He ended the period with $670,000 cash on hand. 

A Democrat, Kunce is originally from Cole County, has served in Afghanistan and Iraq, and has represented the U.S. in arms control negotiations with NATO and Russia, according to his campaign. His platform is focused on economic issues, and he is the director of national security for the nonprofit Economic Liberties Project.


Editor’s Note: The author of this piece previously worked for FoxNews.com. 

The post Lucas Kunce criticizes GOP opponents for China ties in new ad appeared first on The Missouri Times.

]]>
74614
Missouri company to develop massive entertainment campus https://themissouritimes.com/missouri-company-to-develop-massive-entertainment-campus/ Fri, 12 Nov 2021 21:46:42 +0000 https://themissouritimes.com/?p=74452 Although artists can use the campus to rehearse, it will not be an entertainment venue. 

The post Missouri company to develop massive entertainment campus appeared first on The Missouri Times.

]]>
Gateway Studios project could bring 130 high-end jobs to Missouri

Plans are underway for the development of a massive entertainment complex — complete with dressing rooms, a hotel, studios, and more — to be built in Chesterfield, bringing more jobs and revenue to Missouri. 

The $130 million Gateway Studios & Production Services (GSPS) plan is to develop a 32-acre entertainment campus for artists to utilize for rehearsals before going on tour. It would include production services, including lighting and sound equipment, and professionals who could take an artists’ set and vision and create the whole technological package. 

“This is all about bringing new industry to the state of Missouri that has not been here,” David Haskell, GSPS president, told The Missouri Times. “It’s a viable industry, and it will generate a lot of money for the state and put entertainment back on the map for Missouri.” 

“The facility, when it’s completed, will be the largest and nicest of its type in the world,” Haskell said. 

The $110 million Gateway Studios & Production Services (GSPS) plan is to develop a 32-acre entertainment campus for artists to utilize for rehearsals before going on tour. It would include production services, including lighting and sound equipment, and professionals who could take an artists’ set and vision and create the whole technological package. (PROVIDED)

The project is expected to employ at least 130 full-time studio and production company employees with an average salary of $78,000 per year. About 25-60 individuals based in Missouri would be needed for each client to provide assistance traveling on the road with the show. And then there are the construction and hotel jobs the project would create. 

Although artists can use the campus to rehearse, it will not be an entertainment venue. 

Gov. Mike Parson attended a groundbreaking ceremony in Chesterfield Thursday, calling the project “a unique music and film manufacturing campus … introducing a new industry to the state” on social media

Lawmakers considering tax rebate program

The idea is similar to a facility in Lancaster, Pennsylvania which has a multi-year backlog, according to Haskell. 

Missouri lawmakers are considering legislation next session to create a rebate for entertainers or companies who utilize the GSPS facility and have at least one show in Missouri. 

To qualify for the tax credit, businesses and individuals would need to purchase or rent at least $500,000 in concert tour equipment from a Missouri vendor, rehearse at a qualified Missouri rehearsal facility for at least 10 days, and perform at least one concert in Missouri. 

The program would be capped at $8 million, and incentives would only care over for five years. 

Rep. Bruce DeGroot, a Republican who represents Chesterfield, said while he normally doesn’t support tax credits, this program wouldn’t take money from an existing business but would ultimately bring more revenue to the state. 

“Missouri — and St. Louis, in particular — has a history in music. It was the birthplace of the blues, and we’ve kind of gotten away from those roots, and Nashville’s taken over,” DeGroot told The Missouri Times. “These artists would love to come through Missouri, but it’s got to make sense for them financially, and right now we can’t compete.” 

The facility’s completion has a target of the second quarter of 2023. 

Cameron Gerber contributed to this report.

The post Missouri company to develop massive entertainment campus appeared first on The Missouri Times.

]]>
74452
Wagner seeks to expand federal homeless program to help domestic violence victims https://themissouritimes.com/wagner-seeks-to-expand-federal-homeless-program-to-help-domestic-violence-victims/ Fri, 29 Oct 2021 19:36:15 +0000 https://themissouritimes.com/?p=74301 "It can be the difference between life and death."

The post Wagner seeks to expand federal homeless program to help domestic violence victims appeared first on The Missouri Times.

]]>
Funds for a federal program targeting homelessness could be directed toward domestic violence shelters under legislation introduced this week by Congresswoman Ann Wagner

The bill from Wagner and Arizona Congressman Tom O’Halleran directs the U.S. Department of Housing and Urban Development (HUD) to include permanent supportive housing, rapid re-housing, and transitional housing in its Continuum of Care (CoC) Program. The $2.6 billion CoC Program provides funding to nonprofits, local governments, and other entities to provide services for people without homes. 

“While it is used for homeless services, I think an individual who finds herself in this kind of situation is also homeless in a sense because their home is not a safe place, and they oftentimes must leave immediately,” Wagner told The Missouri Times in an interview. “The first thing they need is a place to go that is safe, and after that, we can get them other resources they need to build back their lives and get out of this cycle of abuse.”

“It can be the difference between life and death,” Wagner continued. 

Arizona Congressman Tom O’Halleran

The Republican congresswoman said the legislation — dubbed the HEALS (Help End Abusive Living Situations) Act — would use funds already in place. It also directs HUD to analyze what resources it has to help victims of domestic violence outside of the CoC Program. 

O’Halleran, a Democrat, is a former law enforcement officer who often responded to calls of domestic violence. 

“I’ve seen firsthand the damage this uniquely heinous kind of violence can do to families and to survivors,” O’Halleran said. “The COVID-19 pandemic has seriously exacerbated domestic violence incidents and shelters have struggled to keep up. Now more than ever, we must ensure survivors have access to safe housing options. No person experiencing [domestic violence] should be forced to stay in a dangerous situation because they do not have housing elsewhere.” 

In Missouri, 36,304 people received services from agencies affiliated with the Missouri Coalition Against Domestic & Sexual Violence (MOCADSV) in 2019. But there were an additional 26,068 requests for service that went unmet because of a lack of resources. About 57 percent of unmet requests for services in one day were for housing and emergency shelter. 

That year, more than 350,000 bednights of emergency shelter were provided to adults, youth, and children along with more than 63,000 bednights of transitional housing for adults, youth, and children. 

The COVID-19 pandemic impacted resources as shelters lowered capacity or advised against grouping a large number of strangers together. 

In 2020, 30,116 people in Missouri received domestic violence services from a MOCADSV member agency, but 26,718 requests went unmet due to a lack of resources. In a one day period, 47 percent of unmet requests were for housing services. 

Last year, more than 240,000 bednights of emergency shelter were provided to adults and children along with about 63,000 bednights of transitional housing. 

“MOCADSV and our approximately 120 member agencies commend Congresswoman Wagner’s persistent leadership to address barriers victims of domestic violence and sexual assault experience when seeking housing,” Jennifer Carter Dochler, MOCADSV’s public policy director, said. “Emergency shelter is a critical option for survivors, yet not all survivors need that option. It is critical that we expand the housing options available to survivors with transitional housing, rental assistance, and long-term housing options for individuals who have a disability as a result of abuse.” 

“The HEALS Act would help prioritize additional housing options for survivors to best meet their needs and continue to evaluate and evolve what kind of housing works best for which kind of situation,” she added. 

Wagner said the plan is to attach the HEALS Act to Trafficking Victims Protection Reauthorization Act as the vehicle to get it passed this year. The pair had championed similar legislation last year, but it stalled in a House committee. 

“We have seen this real need out there for survivors who are victims of stalking or sexual assault, who are involved in very volitle situations where they don’t have a stable or safe place to live,” Wagner said. “These victims need safe housing options to help them during this cycle of violence that they’re desperately trying to escape. They need a support network that can help them rebuild their lives.” 

Wagner said she and O’Halleran have worked with HUD on the legislation. 

In August, HUD said it had $2.6 billion to award to homeless services organizations across the country for new and existing projects. The application deadline for the CoC grants is Nov. 16. 

The post Wagner seeks to expand federal homeless program to help domestic violence victims appeared first on The Missouri Times.

]]>
74301