Good Jobs First Blog
State and Local GASB 77 Tax Abatement Disclosures for FY18 & FY19: Known Spending Rises, Compliance Still Uneven
Many governments on July-to-June fiscal years have now issued their FY19 Financial Reports, and we at Good Jobs First are scanning them for tax abatement disclosures and adding them to our FY18 analysis. We discuss here our first take on reports from states and major local jurisdictions.
by Kasia Tarczynska, Good Jobs First
posted on February 7, 2020
As we get closer to the Oscar gala, this is a good time to remember that the public supports the industry not only by buying movie tickets and paying for streaming subscription but also by providing film production companies
Washington, DC: January 22, 2020 – Public pensions are seriously underfunded in some states, and the situation is not helped by the fact that states continue to give huge tax breaks and other subsidies to corporations. Such subsidies often exceed the amount a state owes to maintain its pension obligations.
States Are Losing Revenue Passively to Federal Opportunity Zones. But Only Four Have Even Estimated Their Losses
Opportunity Zones (OZs), the new federal tax break for investing in specially designated census tracts, are estimated to cost the federal treasury $1.6 billion a year. But because all but a few states tie their personal and corporate income tax systems to Uncle Sam’s, OZs will also have a direct and negative impact on state revenues.
Washington, DC, December 10, 2019 -- A new compilation of business-misconduct lawsuits filed by local prosecutors in the nation’s largest cities and counties finds that California accounts for far more cases than any other state. Since the beginning of 2000, local California prosecutors have brought 441 successful suits against corporations, representing more than three-quarters of all such cases in the 50 biggest cities and counties of the United States as a whole.