Tens of billions in ‘corporate welfare’ tax deals about to be exposed like never before

July 12, 2017

By Greg LeRoy

Special deals given by states to companies, including Apple, Google, Facebook, Microsoft and Amazon, can cost as much as $2 million per job.

One analysis of Mississippi’s deal to land a Nissan auto plant found it four times more expensive as was known, and the costliest deal ever to bring in a foreign manufacturer.

A new accounting rule, GASB 77, will reveal to taxpayers tens of billions of dollars in spending never before disclosed and should result in a new debate about “corporate welfare.”