Democratic Governor Jay Nixon took part in a groundbreaking ceremony in Chesterfield Monday, where Reinsurance Group of America announced it is bringing 300 new jobs the area.
Republicans in the Missouri General Assembly passed a bill this year that would cut income taxes – aimed at attracting more businesses and competing with nearby states like Kansas.
Nixon will now have to decide whether to sign or veto the bill. But he told reporters afterward that drastic changes like the tax cut are bad for business.
“Certainty and predictability is an important part of our economic strategy," Nixon said. "We’ll give the bill a hard look, but I’m one to believe that we’re a low tax state – 45th or so – and being predictable in that area, and not veering off that course is pretty important.”
The Missouri Budget Project estimates the bill could cost the state more than $800 million if it's fully implemented.
All signs are pointing to an eventful veto-session in September, when the legislature convenes to attempt to override any vetoes the governor sends their way.
Although he hasn’t made any announcements on high-profile and contentious legislation like income tax cuts or so-called "paycheck protection" or "deception," Nixon has hinted that September will be busy.
“The Monday after session begins the bill review process on that one and others," Nixon said. "Now that the legislature is out of session, we’ll begin to go through what they did line-by-line.”
Republicans have a veto-proof majority in both the House and the Senate, but they’d have to keep members of their party in line. And on controversial bills, that could prove to be difficult.
Follow Chris McDaniel on Twitter: @csmcdaniel
