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09 December 2011

Nolte: Tax Relief Legislation for All Missouri Businesses to Encourage Job Growth

JEFFERSON CITY, Mo. – State Rep. Jerry Nolte, R-Gladstone, will file legislation for the 2012 session that will provide broad-based tax relief to all Missouri businesses. Following the success of his Manufacturing Jobs Act [HB2], Nolte said the goal of this legislation is to make Missouri more competitive and stimulate job creation.

“Times are tough, unemployment is still too high and Missouri families are hurting,” observed Nolte. “As chairman of the International Trade and Job Creation committee, I have worked to create a pro-job environment where everyone has the opportunity to prosper.”

After the Manufacturing Jobs Act, the next step in creating that pro-job environment is across the board tax relief. This legislation will reduce by 50% the income taxes paid by all companies large and small, including family farms, producing a level playing field for everyone. This incentive will be paid for by reductions in Missouri’s tax credit programs. These targeted tax breaks for a few specific areas have ballooned by over 400% since 1998 (from $102.7 million to $521.5 million).

“Government does not create jobs, private enterprise does,” said Nolte. “The broad based incentives in this legislation will give Missouri one of the lowest tax rates in the country attracting new businesses to Missouri while keeping existing businesses and encouraging job growth.”

The 2010 Manufacturing Jobs Act sponsored by Representative Nolte was the catalyst for the $1.1 billion investment by Ford at its Claycomo location, the retention of 3,700 existing jobs and an additional 1,600 new jobs. In addition, GM announced it will invest $384 million with over 1600 jobs saved and created at its plant in Wentzville. Jobs and investment related to the auto company suppliers and other businesses are not included in these figures.

“We have an opportunity to take another bold step forward in Missouri by creating an environment that will help us keep the businesses we have as well as attract new businesses from all over the country,” said Nolte. “Anyone who is willing to work hard must have the opportunity to succeed and benefit from their hard work.”

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