Although SunCal has spent huge sums of cash attempting to influence New Mexico’s residents and state legi
In a grim variation of the subsidy game that may become more common in a tanking economy, Cooper Tire last month successfully squeezed over $66 million in subsidies for plants in three states, pushed down union wages and benefits, and eliminated one plant altogether.
To: President-Elect Barack Obama
From: Greg LeRoy, Good Jobs First ~ 1/8/09
Re: The American Recovery and Reinvestment Plan
New Jersey’s Revenue Allocation Districts (RADs—the Garden State’s version of tax increment financing) may soon undergo severe deregulation.
In Kansas City, subsidized development projects designed to pay their own way with “guaranteed” revenue streams are requiring local government bailouts and cash advances to stay afloat.
With the election of a new president, officials in many states are hoping a renewed federal/state partnership will jumpstart the troubled economy. Until the new president takes office, however, falling revenues have prompted some states to take actions that are counter-productive rather than counter-cyclical.