Good Jobs First Subsidy News
By now, tax concessions of this magnitude for individual companies aren’t a surprise, but as I read this article, it made me recall an effort that was in the media before the pandemic to do something to halt or limit business tax incentives. I wondered what had become of the effort, which included a proposed multistate compact on tax incentives.
DCist has an article out about Amazon's pledge to help 1,000 affordable housing units on Metro-owned land in the Washington, D.C. area. Good Jobs First Research Analyst Kasia Tarczynska told the media outlet Amazon could have a far greater impact if it paid its full share in taxes and suspended its subsidies.
“People aren’t persuaded by the dogma anymore that tax breaks create jobs. Too many people see that the emperor doesn’t have clothes anymore,” Greg LeRoy, executive director of Good Jobs First, which tracks corporate subsidies, told The Intercept. “These extractive industries have been extractive of the tax base too. People realize it’s too corrosive.”
A report released in March shows that corporate tax breaks are costing some school districts large amounts of financial support, writes Peter Greene for Forbes. The report found 149 districts lost more than $1,000 per student.
American Prospect writes: Wisconsin remains on the hook for as much as $1.34 billion for the doomed project. The folly of throwing money at corporations as a jobs strategy has never been clearer.