That’s what Governor Jay Nixon wants to know, and that’s why the Tax Credit Review Commission was formed. It held its first meeting this week and Nixon charged the group to have recommendations to him and legislators by Thanksgiving.
“You stand in front of a group like that and you say, ‘we are spending more on this section of our budget and it continues to grow, I mean up to 8% in the last few years, compared to other areas that have had to be trimmed.’ I puts I think in stark contrast the choices that are there,” Nixon told reporters.
He wants the group to see which of more than 60 tax credit programs are making the most money for the state. He said he won’t rescind any current tax credits, which over seven years totals more than 2.3 billion dollars.
“When you look at the sizes of these and the growth, clearly the housing credit and the historic (preservation tax credits) are the ones that have moved the most dramatically,” Nixon said.
Nixon said that the commission’s report will give the state the best chance to affect rational reform now rather than facing irrational reform in January.