Governor Bob Holden still insists he needs tax increases to bring the budget into balance, with one of the revenue generating methods being a call to end the practice of allowing corporations to set up shop here and put their headquarters elsewhere to avoid paying taxes in Missouri. Proponents of the Governor’s idea argue that it’s big corporations that take advantage of the state. But Kelly Gillespie with the Missouri Chamber of Commerce says if the deduction is ended, small business owners would be hurt as well. Gillespie says the closing of the loophole could force companies to set up their shops in other states and Missouri would lose the jobs that the practice is at least producing.
