Friday, December 14, 2012

New study warns of corporate welfare peril

Posted By on Fri, Dec 14, 2012 at 10:10 AM

Thanks to Republican Rep. Duncan Baird for calling my attention on Twitter to a new Pew study on the perils of corporate welfarestate tax incentive programs to lure business that can grow to crippling revenue drains.

Reliable cost estimates and annual cost controls for tax incentives have helped states promote job creation and economic growth while avoiding unexpected budget challenges. But Pew’s analysis shows that policy makers often create tax credits, deductions, and exemptions without these tools, raising the risk of budget shortfalls and unplanned spending cuts or tax increases to close them.

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