Bloomberg Tax: Texas Tax Break Replacement Champions Chips, Excludes Renewables
Texas business lobbyists have been working to revamp a corporate welfare program widely criticized for being expensive and unnecessary. Their new version is more generous, never sunsets, and per Bloomberg Tax, leaves out subsidies for renewables.
“Texas should invest state money in schools, workforce development programs, and well-maintained infrastructure, instead of offering tax breaks to corporations, said Arlene Martinez, from the government transparency group Good Jobs First.
‘Revamping Chapter 313 would be a big waste of money and a gift to corporate lobbyists. We know how ineffective it’s been at creating jobs or luring business that wouldn’t otherwise have come—they would have because of natural resources, the workforce, and other factors unique to the state,’ she said.
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