Putting Pension Costs in Context: How Corporate Tax Breaks are Diverting State Revenue Needed for Public Employees' Retirement

Good Jobs First
Date Published
01/2020

This report looks at 12 states (6 published, 6 more to come) that are simultaneously in danger of not being able to pay public employees' pensions and giving out massive corporate tax breaks. $3 billion was spent on corporate subsidies and tax breaks in Arizona, Connecticut, Kansas, Kentucky, Oklahoma, and Wyoming during FY 2018. About two-thirds of that amount would have covered the states' pension system contributions. Curbing corporate welfare can make a substantial difference in relieving the pressure on state budgets and supporting retirement security for millions of public employees. 

 

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