Menu

Blog Post

In Tax Giveaways To Corporations Like Amazon, Illinois Loses

ICPR’s EDGE credit write up was used in this article.

Via- The Chicago Reporter

 

“Governor Bruce Rauner is expected to sign a bill reviving the state’s controversial EDGE corporate tax credit program, which passed with overwhelming margins in both houses of the legislature.

The new measure includes a few tweaks that will marginally improve the program, intended to spark job creation through state subsidies to businesses. But the far-reaching recommendations by watchdog groups remain unaddressed.  Beyond that is the bigger question: Does the program actually work, or is it just a big giveaway? Research strongly suggests the latter.

The “war between the states” to land businesses and the jobs they would bring has heated up since July, when Wisconsin won a Foxcomm electronics plant with a $3 billion state subsidy. Even if all 13,000 potential jobs are created – which is less than likely – that will mean a state subsidy of $230,000 per job, making the deal “a sure loser for Wisconsin” that “can only be described as a transfer of wealth from Wisconsin taxpayers to Foxcomm shareholders,” said Greg LeRoy of Good Jobs First, which tracks corporate subsidies nationally.”

 

View Full Article

Sponsors

Alphawood Foundation Chicago McCormick Foundation

Show Your Support

Join Our Mailing List

Get the latest updates on reform issues currently being discussed, legislated and editorialized in Illinois.

Sign Up
ICPR
500 N Dearborn St, Suite 518 Chicago, IL 60654
(312) 436-1274 outreach@ilcampaign.org

© 2017 Illinois Campaign for Political Reform - Privacy Policy
As the leading reform group for Illinois, ICPR is a non-partisan public interest group that conducts research and advocates reform.

Chicago Web Design by Idea Marketing Group