Sinquefield bankrolling group opposed to St. Louis’ earnings tax

A new campaign committee is targeting St. Louis’ earning tax, the continuation of which will go before city voters next month. And wealthy financier Rex Sinquefield is financing the opposition.

The group is called Vote NO on the E-Tax. A spokesman confirmed that Sinquefield will be underwriting the group’s campaign operations, but he declined to say how much money the retired businessman planned to spend.

The city’s 1 percent earnings tax is paid by anyone who lives or works in the city of St. Louis and provides about 40 percent of the city government’s revenue. Supporters, led by Mayor Francis Slay, say the earnings tax is necessary to finance city government operations, which affect all those who work or live in the city.  Opponents say the tax is unfair to low-income people and non-residents.

If St. Louis voters reject the earnings tax on April 5, it would be phased out over 10 years.

Read more: St. Louis Public Radio

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