Good Jobs First Subsidy News

06/14/2017

By Greg LeRoy in Bloomberg/BNA Daily Tax Report

As of early June, more than a dozen local governments have issued Comprehensive Annual Financial Reports (CAFRs) reporting for the first time how much revenue they lost to economic development tax break programs. Some of these early disclosures are overly narrow, others are needlessly difficult to decipher—and a few go far beyond the basic requirements, providing taxpayers and investors outstanding new information.

05/21/2017

By Julie Carr Smyth, The Associated Press

COLUMBUS, Ohio — Want to know how much money governments give away in corporate tax breaks? Good luck.

For years, the figure has been incredibly difficult to calculate. That’s because states, cities and other government units haven’t been directed to uniformly report the value attached to the various tax incentives, abatements and financing deals they agree to as a way of stimulating economic growth.

A major accounting shift taking place across the U.S. now is changing things.

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