JEFFERSON CITY, Mo. (AP) – The Missouri Legislature is sending a tax credit for cattle ranchers and slaughterhouses to the governor for approval.
The measure passed Thursday would extend a current tax credit for cattle ranchers for five years while also raising the credit for cows heavier than 600 pounds. Bill sponsor Mike Parson said it costs more to feed cows when they get that heavy, so many farmers currently sell them to out-of-state feed lots. He said the tax credit would encourage people to raise cattle until they’re ready to slaughter, which would keep more value in Missouri.
The measure also creates a tax credit to expand slaughterhouses.
Sen. Rob Schaaf said tax credits such as this strain the state’s budget and should include job requirements.
The legislation could cost up to $8 million.