Fri, Jul 18 2008
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Published April 19, 2008 04:56 pm - Missouri’s quarterly campaign contribution reports indicate Rex Sinquefield doesn’t read this column. Joe Hadsall: Reasons for donor’s contributions hard to peg By Joe Hadsall Globe columnist Missouri’s quarterly campaign contribution reports indicate Rex Sinquefield doesn’t read this column. Last week, I reported that state Sen. Gary Nodler, R-Joplin, received almost $10,000 from committees funded by Sinquefield, a retired financial analyst who champions school choice, among other issues. Before Nodler received a dime of Sinquefield’s money, he expressed sympathy for the issue — he said in January that if the issue came up for debate on the Senate floor, he’d let it happen. Nodler speculated that the January column was the reason he received those donations. But House Speaker-elect Ron Richard, R-Joplin, was also in that column, and he reported no donations from any of Sinquefield’s committees. Nodler was singled out last week because he submitted his quarterly campaign fund-raising report before the April 15 deadline. A few days later, state Sen. Jack Goodman, R-Mount Vernon, reported Sinquefield donations that more than doubled those of Nodler. According to documents from the Missouri Ethics Commission, Goodman hauled in $24,700 from 38 of Sinquefield’s 100 political action committees. None of the other area representatives or senators reported donations from those groups, including Richard. A column written by Sinquefield reveals a possible reason why Richard may not have been a recipient. The column attacks a piece of legislation that Richard has sponsored. The bill calls for tax credits worth $550 million for Bombardier Aerospace in order to entice the Canadian company to build a manufacturing plant in Kansas City. Sinquefield argues that tax credits aren’t always a good idea because they don’t guarantee that extra economic development will replace the initial tax-revenue loss. “While some projects may offer ... robust yields, there are no guarantees,” he and co-author Joseph Haslag wrote. “To bank on higher future tax revenues flowing from today’s tax credits is simply folly.” Richard said that the bill will make history: It will be the first tax credit bill that compels the company to pay back all the tax credits, based on every airplane sold. “Most tax credits are basically cash giveaways,” Richard said in March. “I don’t believe that’s fiscally responsible. We are the only state in the union that will have a tax credit bill that pays the state back on interest and principal.” Wrap-up 
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