Two bills recently vetoed by Governor Nixon are on the table for the Missouri General Assembly. Republicans are seeking to overthrow the governor's vetoes on two separate bills dealing with tax cuts and gun control.
House Bill 253 is a tax cut proposal for individuals, business owners, and corporations. The bill seeks to make Missouri more competitive with Kansas and to a more tax-friendly state. Governor Nixon vetoed House Bill 253 because he said it would gut funding for education and social services.
Short-term lenders make big profits in Missouri. QC, which mostly does business as Quik Cash, has 101 outlets in Missouri and in 2012, one-third of the company's profits came from the state, twice as much as from California, its second-most profitable state.
Payday lenders are notorious for their sky high interest rates, and the people who use these storefront creditors are oftentimes the ones least able to pay.
In the first part of Wednesday's Up to Date, Steve Kraske talks with ProPublica reporter Paul Kiel about the situation in Missouri, where attempts to regulate these businesses—such as capping interest rates—keep getting defeated.