Sinquefield targets STL's earnings tax

Billionaire investor Rex Sinquefield is financing a campaign opposing St. Louis’ earning tax.

The continuation of the 1 percent earnings tax is up for vote next month.

A spokesman for Vote NO on the E-Tax declined to say how much Sinquefield was investing.

The earnings tax provides about 40 percent of the city government’s revenue and has been in place in its current form since 1959. Opponents say the tax is unfair to low-income people and nonresidents.

For years, Sinquefield has maintained a higher land tax would be fairer. He has a home in St. Louis' Central West End neighborhood.

Read more from St. Louis Public Radio.