U.S.-China hub receives additional support from Missouri's House

Intro:	A House committee passed what would be one of the largest tax credits in Missouri for Chinese airlines operating out of St. Louis.
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Wrap: The House Economic Development Committee passed a bill which would provide tax credits to cargo shippers bringing business to the St. Louis area.

Legislative staff estimated the tax credits would cost the state one half a billion dollars over the next fifteen years.

The bill would give Chinese airlines among others a tax exemption on outbound flights for eight years.

The sponsor of the bill, California Republican Caleb Jones said the tax credit is necessary to put Missouri above the competition.

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Description: And if we in the Missouri Assembly do not grab this opportunity with both hands, we are going to lose it to another state.

No one spoke in opposition to the bill.

Jones's bill needs approval from the House Rules committee before reaching the House floor.

From the State Capitol, I'm Jordan Shapiro.

Intro:	A House committee passed a tax credit estimated at half a billion dollars to try to bring cargo shippers to St. Louis Lambert Airport.
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Wrap: The tax credit would provide an eight year tax exemption for airlines on outbound international cargo flights leaving the proposed China hub at Lambert airport in St. Louis.

The credit would also apply to facilities built around the airport to house imports and exports. It is estimated to cost the state at least half a billion dollars.

Lambert Airport director, Rhonda Hamm-Niebrugge, supports the tax credit bill saying the airport is currently under utilized.

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Description: And I think this bill and what we are trying to do as a state, not as a city, but as a state is bring one of the greatest assets we have back.

The bill passed the committee unanimously, but some representatives questioned whether the program should include Kansas City.

The House Rules committee must approve the bill before it goes to the House floor.

From the State Capitol, I'm Jordan Shapiro.

Intro:	A Chinese hub airline venture could receive up to a half-billion dollar tax credit under a bill approved by a Missouri House committee.
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Wrap: Supporters say the credit would attract businesses to the St. Louis area and make Lambert Airport the center of an international cargo hub.

Some lawmakers questioned the tax exemptions and expressed concern about lost revenue.

The credit could cost the state half a billion dollars over the next fifteen years.

The sponsor of a similar bill in the Senate, St. Louis County Republican Eric Schmitt, said there is nothing worry about.

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Description: There is nothing ventured if we've gained nothing if they don't locate here, if this doesn't work we haven't deffered revenue in anyway.

The bill is supported by the St. Louis County Executive and the AFL-CIO among others.

The bill goes to the House Rules committee for approval before reaching the floor.

From the State Capitol, I'm Jordan Shapiro.