Guest column: Costs too much, helps too little

For more than two decades in public service, I have worked with Missourians from all across our state to grow our economy, create jobs and make Missouri a great place to live and work.

Along the way, we've cut taxes, made record investments in our schools, and stepped up to help our neighbors when disasters struck.

However, House Bill 253 is a risky experiment that threatens to derail us from this proven, fiscally responsible course and set our economy back for years to come. That's why I vetoed it, and why bipartisan support for sustaining my veto is growing among legislators.

HB253 doesn't address some great need, such as when Republicans and Democrats came together in a special session to pass the Missouri Manufacturing Jobs Act, which saved our auto industry.

It wasn't the result of a grassroots effort to protect the vulnerable, such as the landmark autism legislation of 2010 that is helping thousands of children.

It wasn't an example of folks rolling up their sleeves to help their neighbors, like when we came together to rebuild Joplin in 2011.

The truth is the main constituency for House Bill 253 is one wealthy individual and a few special interests.

That's why more than 100 school boards across the state have opposed HB253, joining local chambers of commerce, educators, children's advocates and city councils, who all understand that this legislation does not help businesses and offers even less to working families.

Those still supporting HB253 aren't really sure of its effects.

They pointed to Kansas as their model. But when Kansas embarked on its own risky tax scheme, it became one of the only states in 2013 that had to cut funding for education, and raise taxes by $777 million.

HB253 supporters then touted Texas. But Texas has higher property and sales taxes than Missouri. Texas schools perform far behind ours, and the state's services for their most vulnerable citizens are inadequate.

Here's what we do know about HB 253:

First, it raises taxes by eliminating the sales tax exemption on prescription drugs and college textbooks, costing Missouri families more than $200 million each year.

Second, it costs too much. With a price tag of at least $800 million, it would hit our schools with cuts equivalent to eliminating between 5,400 and 9,400 teachers across the state.

Third, HB 253 would damage the state's fiscal foundation. Standard & Poor's, Fitch and Moody's have warned of the serious risks to the state's AAA credit rating if HB 253 becomes law.

Fourth, it would devastate our mental-health system. HB 253 would cut crucial services such as those for children with autism and people with developmental disabilities. The Southeast Missouri autism diagnostic center and the regional autism project together could lose more than $400,000 in funding. The state also would have to close the Cottonwood Residential Treatment Center for children here in Cape Girardeau.

HB 253 won't help working families. It won't help businesses create jobs. It won't move Missouri forward.

HB 253 costs too much, helps too little, and would do permanent damage to this state we love.

Jay Nixon is the governor of Missouri.