Was CAPCO a Political Casualty?
Back in 2000, Missouri Governor Mel Carnahan vetoed an extension of the CAPCO program despite the state’s need for funding for start-up companies:
There is a sense that senatorial politics cast a shadow over the extension of Capco funding in Missouri.
Missouri Gov. Mel Carnahan, who supported the original legislation which created the Capco program in 1997, vetoed an extension this year because he was concerned with cutting $13 million in expenses on an estimated $7.5 billion revenue projection.
Some observers speculate the governor wanted a squeaky clean fiduciary bill of health because of his political battle with incumbent Sen. John Ashcroft. Mr. Ashcroft takes special pride in his own budgeting abilities during his gubernatorial tenure.