Friday, March 22, 2013
Corporate welfare Corporate welfare: Let's review all as carefully as steel mill
Posted by Max Brantley on Fri, Mar 22, 2013 at 7:02 AM
The careful review of a major taxpayer investment in the proposed Big River steel mill is nothing but a good thing and there's no debate we can thank the new Republican legislative majority for the oversight.
As everyone here says, there are no guarantees that corporate welfare will produce a successful business. Nobody has ever said otherwise (indeed the Arkansas record is littered with failures of well-meaning efforts), but I think it's true that this fact was too often underplayed, if mentioned at all, before the money was handed out.
I have to wonder, too, whether Republicans will apply such strict scrutiny to their own economic development schemes and not just those of the Democratic governor. One example: The Republican article of faith that tax cuts for the wealthy are sure-fire economic engines. There's a pile of contrary evidence. Will Republicans commission reports from sources such as these when they run their own corporate giveaways through the legislature? Speaker Carter, who's lusting to cut the capital gains tax, primarily a windfall for the rich, you're up.
Speaking of...
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Legislature today: Steel bill, Obamacare keep rolling
April 3, 2013On the legislative front: * BIG RIVER STEEL: The enabling legislation for state incentives to build a steel mill in Mississippi County won approval in a House committee today. /more/
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Prospects good for steel mill subsidies
March 29, 2013Sounds like this turkey is cooked. Direct support by House Speaker Davy Carter and slightly qualified support by Senate President Michael Lamoureux would make it appear Gov. Mike Beebe is going to get his big state subsidy to help a startup steel mill operation in Mississippi County, despite stout opposition from an existing competitor that cranked up here without such millions in taxpayer help. /more/
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The legislature rolls on
March 25, 2013I hope to check in later as joint House-Senate committees discuss the increasingly controversial plan to provide state subsidies for a new steel mill in Mississippi County. /more/
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Nucor steps up opposition to steel mill subsidies UPDATE
March 21, 2013Nucor, the big steel producer with a mill in Mississippi County, is increasing its attack on the state proposal to give tens of millions in subsidies to a startup competitor run by a former Nucor executive. /more/
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