Posts Tagged Subsidies
Right now, three tech companies—#1 and #2 microchip makers Intel and Samsung and electric-truck start-up Rivian—are staging secret subsidy auctions, playing states against each other for new facilities.
Good Jobs First talked with education expert Dr. Kendall Deas about the role corporate incentives and subsidies play in South Carolina, which in fiscal year 2019 cost the state’s public schools $423 million – a $99 million increase in two years, according to our analysis. The findings raise a key question: do newly arriving companies that get big tax breaks pay their fair share for the public services they and their employees utilize?
Whether or not it is a good idea to increase subsidies for renewable energy, one thing is certain: we need to stop giving them to fossil-fuel companies and start charging dirty energy for their “externalities,” i.e., the costs of carbon and other pollutant emissions.
It is not uncommon for state and local governments to pay out subsidies to companies to get them to retain existing jobs rather than creating new ones, but Iowa finds itself in the position of giving millions to food giant Kraft Heinz to eliminate far more jobs than it is saving.
Amid a global scandal in which Volkswagen admitted to equipping its diesel-engine cars with devices that cheat air pollution tests, Tennessee lawmakers are planning to review the state’s subsidy contract with the German automaker, including the clawback provisions.