Gov. Jay Nixon and Missouri public school teachers and education leaders today called on the General Assembly to pass comprehensive tax credit reform. In their remarks, the Governor and education leaders said reforming tax credits would help ensure that limited state funds are directed to critical priorities, including public education.
During a meeting with the education leaders, the Governor noted that Missouri currently has more than 60 state tax credit programs. Over the past 10 years, the use of state tax credits has grown to $585 million a year – a jump of 86 percent. Redemptions of tax credits have continued to climb over the past two years, even as state revenues have slumped because of the economic downturn.
“Creating jobs and moving our economy forward requires a diverse set of tools, including strategic tax credits and incentives,” Gov. Nixon said. “But other programs and services, such as public education, are vital to economic development as well. To move our economy forward, Missouri must invest its limited resources in programs that will deliver the best possible return on investment for our taxpayers. That means we must bring greater accountability, responsibility and focus to our tax credit system to ensure that we are investing in incentives that are producing jobs and growth, while also protecting the funds we need to support elementary, secondary and higher education.”
The Governor met with about 70 public school teachers and leaders from public elementary and secondary schools, public community colleges and public four-year colleges and universities this morning. The group discussed the vital role public education plays in workforce development and economic growth, and highlighted the critical importance of continuing to invest in education.
“Tax credits can be a valuable tool to create jobs and grow our economy, but they must be weighed against their cost to our classrooms, our colleges and other vital state services,” Gov. Nixon said. “Together, Missouri’s education leaders and I call on the General Assembly to pass comprehensive tax credit reform this year to safeguard our continued investment in public education and to lay the foundation for economic growth for the 21st century.”
Education leaders echoed the Governor’s call for tax credit reform.
“As the state’s land-grant institution, the University of Missouri System plays a critical role both in preparing our workforce for the jobs of tomorrow, and in generating economic growth across the state,” said Gary Forsee, president of the four-campus University of Missouri System. “Continued investment in public higher education is critical, and we applaud the commitment of Gov. Nixon and the General Assembly to our institutions. We agree with the Governor that tax credit reform is needed to ensure that our limited tax dollars are invested in Missouri’s most urgent priorities.”
“Tax credits are important economic development tools, but those dollars are then unavailable for other vital purposes, including public higher education,” said Dr. Carolyn Mahoney, president of Lincoln University and president of the Council on Public Higher Education. “Our members share the Governor’s belief that public higher education must be one of the state’s highest priorities, and we would support a process that limits or otherwise critically examines the state tax dollars that are dedicated to tax credits. Today’s students are tomorrow’s workforce, and we want to make sure we are doing everything possible to prepare students who will, in turn, move our state forward.”
“Missouri’s public community colleges are critical drivers of economic and workforce development,” said Dr. Marcia Pfeiffer, president of St. Louis Community College-Florissant Valley and chair of the Missouri Community College Association Presidents/Chancellors Council. “We strive to work seamlessly with local businesses and industries to prepare our students to transition directly into employment in growing fields. We appreciate the importance of the strategic use of tax credits for job creation and economic growth, but we support Gov. Nixon’s call for reform to ensure we are using these dollars for the greatest benefit for Missouri.”
“Investing in elementary and secondary education is critical for Missouri’s continued economic growth,” said Paul Kinder, superintendent of the Blue Springs School District and president of the Missouri Association of School Administrators. “We applaud Gov. Nixon’s leadership in protecting our schools from the drastic cuts other states have seen. Refocusing the state’s tax credit system will ensure that Missouri is investing in the right priorities for the years to come.”
“Public schools are responsible for educating each student who walks through the door, whether those students are heading to college or directly to work,” said Dr. Jim Hinson, superintendent of the Independence School District. “Continued support for public education is vital, but excessive tax credits have the potential of endangering funding for our schools. We appreciate Gov. Nixon’s efforts to reform this system and ensure that state resources are focused on critical priorities, including public education.”
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