Washington, April 30, 2020—Amid continuing controversy over some of the companies receiving federal financial assistance under the Paycheck Protection Program, a new website launched today makes it easier to see the accountability track records of companies getting help through the PPP and the other programs authorized by the massive CARES Act.
Washington, DC, April 27, 2020 – Good Jobs First – a non-profit, non-partisan research center focusing on economic development accountability – today published the second half of a 13-state report “Putting State Pension Costs in Context.” The report found that Colorado, Georgia, Louisiana, Missouri, South Carolina, Texas, and Vermont together spend more than $17 billion per year in development subsidies and tax breaks for corporations, about five times the states’ yearly pension obligations.
Good Jobs First, which has for four years been urging governments to stop subsidizing Amazon.com, Inc., today renewed its call in light of the sales windfall the online retailer is reaping from the COVID-19 pandemic. Instead of more tax breaks, Amazon should refund past subsidies and rescind future tax breaks in order to help governments cope.
Good Jobs First executive director Greg LeRoy commented favorably on bills that have been introduced in several states to create a "Phase Out Corporate Giveaways Interstate Compact." "We welcome these new bills as timely vehicles to start promoting interstate dialog. We look forward to working with the bills' sponsors and everyone else seeking to reform economic development."
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.