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GOP says Holden's plan is tax increase on Missouri families

September 11, 2003
By: Aidian Holder
State Capital Bureau

The Republican-controlled legislature defeated Gov. Holden's plan to boost education funding. From the state Capitol, Aidian Holder has the story.

Story:
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Gov. Holden's plan to end tax breaks used by business, out-of-state corporations and the wealthy was at the heart of his agenda for the special session, and its defeat today was both a major blow to his agenda and the first shot in next year's election.

The tax breaks Holden targeted included the infamous "Geoffery Loophole" that allows large corporations to transfer income to their parent companies to avoid Missouri taxes.

Democrats argue changing the law is only fair, but GOP Floor Leader Jason Crowell says it's a tax increase on Missouri citizens.

Actuality:Crowell
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Contents: Crowell argues the taxes would affect regular Missouri citizens and consumers.

With the tax package dead for this year, Democrats hope to use the strapped education budget as an issue in next year's elections.

From the state Capitol, I'm Aidian Holder.