China hub could mean less money for seniors, downtown development

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KMOV.com

Posted on August 24, 2011 at 6:36 PM

Updated Wednesday, Oct 30 at 7:15 AM

(KMOV) – Efforts to bring the “China Hub” to Lambert International may affect some St. Louis seniors’ wallets.

The Circuit Breaker tax credit provides tax credit checks to thousands of St. Louis area senior citizens, but it faces being cut in order to free up tax incentive money to bring companies to the new international shipping hub.
 
Promoters of the China Hub project predict it could bring 14,000 direct and indirect jobs to the St. Louis area, but senior advocate Ollie Stewart said she was really hoping the hub would bring new jobs to the area but now she isn’t so excited.
 
“Once they pay their rent and get things to get by, they're barely surviving,” said Stewart.
 
Although the program doled out over $100 million to low income elderly homeowners and renters last year, per person the checks aren’t very much.
 
Odessa Hollingsworth is one of the 100,000 elderly and disabled residents in Missouri who could lose the state tax credit check if the Circuit Breaker tax credit program is cut.
 
“The most is $300, but it’s usually less,” said Hollingsworth about the annual tax credit check’s value. “It’s enough to help catch me up.”
 
State representative Tishaura Jones said she plans to fight the proposed tax credit cuts.
 
“We have over 70 tax credits on the books, some are for grapes. I’m not saying that’s what we should cut,” said Rep. Jones. “This is part of an overall packages, but I don’t think this is a necessary cut.”
 
The Breaker Circuit tax credit program isn’t the only program facing cuts. The Neighborhood Development Tax Credit might also be reduced even though some legislators say it’s probably the primary incentive for new construction in some downtown neighborhoods.
  
To see the number of Breaker Circuit tax credit claims by Missouri House of Representatives district number, click here. And, if you have an opinion about the proposed program cuts, contact your Missouri legislator.

 

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