Monday, November 13, 2017

Missouri GOP Historic Tax Cut Crackdown Threatens Kansas City Rehab Boom

Conservatives pull back an old school subsidy that's a staple of local development schemes. Read more:

Tax bill guts historic tax credits used to rehab Westport Commons, Kemper

Plexpod Westport Commons wouldn't exist without the historic tax credits used to make the massive renovation and preservation project financially feasible, said developer Butch Rigby. A GOP-led tax reform bill introduced this month to simplify the tax code, however, would eliminate the Reagan-era tax credit program , which provides a 20 percent federal tax credit for historic building rehab projects that can produce revenue-generating properties like Westport Commons .

7 Comments:

Anonymous said...

Slam the brakes on any further development till Slick James is out of office.

SERIOUSLY!

Anonymous said...

Historic tax credits are a local issue. Not at the federal level. Get rid of the federal credits.

Anonymous said...

Sell your freaking yacht if you need money to do these projects.

Anonymous said...

Trouble ahead
Trouble behind

And you know that notion, just crossed my mind.

Anonymous said...

Butch rigby is a multi millionaire mostly because of these tax breaks, besides, he’s a dickhead little punk

Anonymous said...

Call these tax credits what they really are - corporate welfare.

Phil Cardarella said...

Not all change is actually "reform". It is a disservice to the concept of truth (or math) to refer to the GOP corporate welfare and billionaire-care proposals as "reform".

Anything that allows the top .1% to pay LESS is NOT reform. Anything that allows corporations to avoid paying taxes on wealth accumulated outside the US is NOT reform. Anything that allows billionaires to pass on their billions to their children without paying BIG estate taxes is NOT reform.

Allowing thieves to enter a bank with a wheelbarrow and carry out as much cash as they can is NOT "reform" of the banking system. It is bank robbery.