St. Louis City could lose one-third of budget - KMOV.com

St. Louis City could lose one-third of budget

KMOV - A petition drive may begin soon to repeal St. Louis city's earning's tax, which would lose the city one-third of it's current budget.

 

The ballot language has been approved by the Missouri secretary of state.

City leaders say the potential loss of revenue to their budget is equal to the police department's entire funding.

 

Petition organizers, though, say an earnings tax damages the city's ability to bring in new business, and voters should be able to decide.

"It could be anything from jumpstarting the city's economy, to putting the city out of business," says Jeff Rainford, Mayor Slay's chief of staff. "Depending on how much time the city had to replace the tax, and if we had time to do so."

Organizers haven't decided yet if they will follow through to gather the necessary 100,000 signatures by May 2, 2010.

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