Posts Tagged GASB

Dec
17
2015

New Government Accounting Rule Takes Effect: Price Tag on Corporate Welfare

Washington, DC--For state and local budgets starting December 16, 2015 or later, most governments will have to disclose how much revenue they lose to corporate tax breaks given in the name of economic development.

Aug
14
2015

GASB Launches a New Era of Subsidy Transparency

For decades, state and local governments have issued Comprehensive Annual Financial Reports (CAFRs) that failed to include an important part of their fiscal condition: the extent to which they have forgone revenue by giving economic development tax breaks to businesses. An estimated $70 billion in subsidies are awarded each year in the name of job creation and economic growth.

Jun
11
2015

Los Angeles Times Stirs Debate: Elon Musk’s Use of Subsidies at Tesla, SpaceX, and SolarCity

Jan
14
2015

2014: A Landmark Year for Subsidy Accountability

Two-thousand fourteen was a banner year for our movement, hands down. The first move to require standardized subsidy-cost reporting! The first half of a legally-binding two-state cease fire deal! The first state ban on tax-break commissions! A big surge found in state disclosure of subsidies! Big improvements to our Subsidy Tracker, enabling first-ever mash-ups!

Oct
7
2014

GASB Finally Prepares to Step Up! And Who is GASB, You Ask?

For many years, we at Good Jobs First have criticized GASB—the Governmental Accounting Standards Board, or “GAZ-bee”— for failing to require state and local governments to disclose economic development subsidy spending in a uniform way.

It appears that’s finally about to change, and if it does, it will be hard to overstate the significance of the news.