Good Jobs First Blog

Jun
28
2016

The $160 Billion Bank Fee

Washington, DC, June 28, 2016-- Since the beginning of 2010, two dozen major U.S. and foreign-based banks have paid more than $160 billion in U.S. penalties to resolve a wide range of cases brought against them by the Justice Department and federal regulatory agencies. Bank of America alone accounts for $56 billion of the total and JPMorgan Chase another $28 billion. Fourteen banks have each accumulated penalty amounts (both fines and settlements) in excess of $1 billion, and five of those are in excess of $10 billion.

Jun
27
2016

Louisiana’s Notorious Industrial Tax Exemption Program Reformed

Exercising discretionary authority his predecessors always had, Louisiana Gov. John Bel Edwards last Friday issued an executive order reforming the most notorious property tax abatement program in the United States.

May
18
2016

Subsidy Tracker Reaches Milestones

Half a Million Deals, $250B in Taxpayer-Funded Subsidies

Subsidy Tracker Database Reaches Milestones Revealing Corporate Welfare

Washington, DC, May 18, 2016 -- Documenting that corporate welfare has become a commonplace and expensive practice, the first national database of taxpayer-funded subsidy awards to business today reached two significant milestones: The latest expansion of Good Jobs First’s Subsidy Tracker brings the number of entries to 500,000 with a total value of more than $250 billion.

Apr
18
2016

Kansas and Missouri Make Progress Toward Ending Interstate Job Piracy

Washington, DC, April 18, 2016—Good Jobs First today applauded the State of Kansas for its progress towards accepting Missouri’s offer of a legally binding cease-fire to end the Kansas City-area problem of so-called “interstate job fraud,” or the payment of huge tax breaks for companies to relocate short distances across the region’s state line.

Mar
30
2016

Big Changes Are Coming To Enterprise Florida

In a surprise move, Florida Gov. Rick Scott ordered Enterprise Florida (EFl), the state’s public-private entity charged with recruiting companies to the state, to downsize and to consider converting to a completely private model.