Similar to a proposal being pushed by Arizona legislators, an economist in Minnesota has cautioned the state over providing too many subsidies and tax incentives to big retailers.
"An economist from the Federal Reserve Bank in Minneapolis told the state House Tax Committee that the best economic policy is to keep taxes low for all businesses and to refuse preferential tax treatment for a few."
"'It should raise red flags to legislators when businesses are coming to you for subsidies,' economist Art Rolnick said."
"The Mall of America is asking Bloomington and the state for $222 million in tax subsidies to help finance a $1.8 billion expansion. In return, mall representatives predicted the project would create 7,000 construction jobs and 10,000 permanent jobs and would generate $53.8 million a year in new state taxes."
"The economist warned that granting tax breaks to a few big projects would shift tax burdens onto smaller businesses and encourage other private firms to seek public subsidies."
FULL STORY: Economist urges state to reject subsidies
Manufactured Crisis: Losing the Nation’s Largest Source of Unsubsidized Affordable Housing
Manufactured housing communities have long been an affordable housing option for millions of people living in the U.S., but that affordability is disappearing rapidly. How did we get here?
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Using Old Oil and Gas Wells for Green Energy Storage
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Minneapolis Bans Rent-Setting Software
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Oakland to Add 244 New EV Chargers
Oakland plans to launch its new charging network at eight locations by the end of 2025.
Jane Goodall Inspires with Message of Hope, Resilience, and Environmental Action
Speaking in Pasadena, Jane Goodall offered a hopeful and inspirational message, urging global compassion, environmental responsibility, and the power of individual action to shape a better future.
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