State Auditor Nicole Galloway slams “legislative giveaways”

| October 11, 2017
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JEFFERSON CITY, Mo. — A review of Missouri’s tax incentives and exemptions undertaken recently by State Auditor Nicole Galloway’s office found that legislators may not be tracking effectiveness of their policies.

State Auditor Nicole Galloway

The report, released Wednesday, found that the Missouri legislature does not have an accurate system for accounting and keeping track of the fiscal impact of hundreds of tax breaks in the state’s tax code.

This, Galloway’s report alleges, “undermines the state’s fiscal health”.

“There is no system in place to determine whether taxpayers are getting promised economic benefits from special interest giveaways. Unless the legislature does a better job assessing the costs and benefits of their policy decisions, the state will continue to jeopardize its fiscal health and threaten critical services for Missourians,” Galloway said in a news release Wednesday morning.

In 2015, the Missouri legislature passed a law which created a new method for the allocation of corporate income from sales which cross state lines. That tax break was supposed to cost $15.2 million annually, however the audit found that in just two years corporate income tax collections have decreased by $177 million.

This is just one example, Galloway said, of where Missourians are being shortchanged by tax breaks and loopholes carved out by elected officials in Jefferson City.

“While Missourians absorb dramatic restriction s on higher education funding and cuts to prescription drugs and in-home nursing care, the state is giving away millions to corporations for simply doing what the law requires,” Galloway went on to say. “Promoting

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