1. United States
2. Mo.
3. Letter

I oppose SB1004 (Gregory), SB1563 (Roberts), and HB1845 (Gallick), the so-called "Angel Investment Incentive Act". These bills are not an investment in Missouri’s future; they are a regressive handout to the wealthy at the expense of the public good. The legislation creates a taxpayer-funded subsidy, offering 40-50% tax credits to accredited investors, which is a class defined by high net worth. This is a direct transfer of public resources to private, affluent individuals, subsidizing their high-risk private ventures with money that should fund schools, infrastructure, and social services. The state becomes a venture capitalist for the rich while working families see no direct benefit. In addition, the bills fail to mandate strong labor or community benefits. There are no requirements for these subsidized businesses to pay family-sustaining wages, hire locally, recognize unions, or ensure projects benefit disadvantaged communities. It prioritizes investor profit over worker welfare and community needs. The geographic allocation mechanism is also flawed. While it attempts regional equity, it does nothing to prevent investor capital from still concentrating in wealthy urban areas like St. Louis or Kansas City, leaving truly underserved rural and small-town Missouri behind. Finally, this drains millions from the state treasury, which is already on an unsustainable path. These funds are desperately needed for proven public investments in healthcare, education, and affordable housing. We should invest directly in our people and communities, not in speculative private equity for the wealthy. I urge you to reject these bills and pursue economic policies that build broad-based prosperity, not wealth for a privileged few.