Gov. Parson cuts loan for Southeast Missouri smelter

Gov. Mike Parson has vetoed a $8.5 million set-aside for a no-interest loan for pollution controls at Magnitude 7 Metals, an aluminum smelter plant in Marston, Missouri, in New Madrid County.

Parson, in a statement, said the loan violated a Missouri Constitution provision dating from the Civil War prohibiting "lending of public credit to any private person, association or corporation except under special circumstances that don't exist here."

Magnitude 7 opened in 2018 on the site of a former Noranda plant.

Of note

On June 26, the Biden administration announced funding to provide "reliable and affordable" high-speed internet service to all 50 states in its "Investing in America" initiative.

Missouri was allocated $1.74 billion for broadband.

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