Federal Handout to Intel Will Cost $283,000 Per Job, and That's Being Generous
And the real kicker is that Intel was probably going to create those jobs without taxpayers funding anything.
Subsidies
The Political Right Has Luxury Beliefs, Too
Support for industrial policy and protectionism are supposed to help the working class. Instead, these ideas elevate the already privileged.
Rivian Pauses Construction at Factory That Costs Georgia Taxpayers $1.5 Billion
The company will now build everything in its existing Illinois factory, pausing construction on the Georgia plant until "later."
If Semiconductor Chip Demand Is High, Why Do We Need More Subsidies?
Commerce Secretary Gina Raimondo says more chip subsidies are needed, even before the Biden administration has distributed $52 billion or measured how effective that spending was.
Biden Pours Out Another $6.5 Billion for the CHIPS Act's Costly Protectionism
It's part of the government's expensive public-private partnership meant to address concerns over a reliance on foreign countries, like China, for semiconductors.
Audit Finds New York's $700 Million Film Tax Credits Make Little Difference
The credit "is at best a break-even proposition and more likely a net cost" for the state.
Michigan Is Spending Millions Trying To Refurbish a Ski-Flying Hill. It's Not Working.
Copper Peak revitalization was pitched as an economic development project for the Upper Peninsula, which already has two working ski jumps.
Georgia Lawmakers Propose Modest Changes to State Film Tax Credits
The credits cost the state over $1.3 billion per year with a 19 percent return on investment. Lawmakers' proposals will do little to change that.
Do Americans Really Only Want Sprawl?
Plus: the House votes for more affordable housing subsidies, Portland tries to fix its "inclusionary housing" program, and is 2024 the year of the granny flat?
Study Funded by Shell Convinced Pennsylvania To Give Shell $1.6 Billion Tax Break
The tax credits currently rank as the largest subsidy in state history.
Argentina, Once One of the Richest Countries, Is Now One of the Poorest. Javier Milei Could Help Fix That.
The new libertarian president believes in free markets and the rule of law. When people have those things, prosperity happens.
The Government Is Better at Picking Losers Than Winners
It's taxpayers who lose when politicians give gifts, grants, and loans to private companies.
St. Louis Schools Lost $260 Million to Economic Development Subsidies
According to a report from Good Jobs First, St. Louis' public schools took the brunt of the loss at nearly 65 percent of the total.
Feds To Spend Hundreds of Millions of Dollars on E.V. Chargers in 'Disadvantaged Communities'
The projects include $1.4 million for a charging station in a remote Alaskan community with barely 2,000 people.
On Economic Issues, the Populist Right and Left Share a Lot of Common Ground
That's bad news for Americans.
How Much Will Taxpayers Pay for Virginia's $2 Billion Arena Plan?
How much public money will be used remains unclear. The consensus answer seems to be "a lot."
State Governments Promised Private Companies More than $10 Billion in Subsidies Last Year
The statistic, compiled by watchdog group Good Jobs First, only takes into account "megadeals" involving at least $50 million in subsidies.
G.M. To Lay Off 1,300 Michigan Workers Despite $824 Million in State Incentives
The bulk of the employees may be able to find work elsewhere within the company, but the state could still be on the hook for the promised cash.
Georgia Taxpayers Lose $160,000 for Every Job Created by Film Tax Credits
The program generates just 19 cents for every dollar spent.
Tesla's Expensive New Cybertruck May Qualify for $7,500 in E.V. Tax Credits
According to a Treasury Department website, two of the three Cybertruck models currently offered would qualify for tax credits.
North Carolina's Bad Billion-Dollar Bet on a Struggling E.V. Company
Vietnamese electric vehicle manufacturer VinFast has lost $5.8 billion in three years, during which time the state of North Carolina pledged $1.2 billion in state incentives.
Everglades Restoration Complicated by Florida Agricultural Interests
Tariffs and sugar subsidies have propped up overvalued land needed to fix the environmental damage.
Gas Tax Revenues Decline as Cars Get More Efficient. How Will Government Pay for Roads?
Lawmakers should consider a user-fee system designed to charge drivers by the mile.
Nikki Haley Opposed Boeing Subsidies at Tonight's GOP Debate. As Governor, She Gave Boeing Millions.
The former South Carolina governor can't decide whether she likes corporate subsidies or opposes them on principle.
Exclusive: Rand Paul Wants To Kill Electric Car Subsidies and Mandatory A.M. Radio
The senator has introduced an amendment to the AM For Every Vehicle Act, sponsored by Sens. Ed Markey and Ted Cruz.
Ford E.V. Battery Plant in Michigan Named Worst Economic Development Deal of 2023
For the third time in five years, the Center for Economic Accountability found an electric vehicle or battery plant to be the most egregious waste of taxpayer funds.
Why Is Halloween Candy So Expensive? Sugar Protectionism.
A new report from the GAO highlights how America's system of sugar subsidies and tariffs costs consumers about $3.5 billion every year.
Democrats Say They're Fighting Inequality. But Many of Their Policies Favor the Rich.
Over the last several years, they have worked nonstop to ease the tax burden of their high-income constituents.
Taxpayers Bankroll Electric Vehicles Even as Fewer People Buy Them
Ford and General Motors have tempered plans for E.V. production, but governments still spend billions of dollars in incentives.
Joe Biden's Plan for 31 Subsidized 'Tech Hubs' Is an Old, Tired Idea That's Doomed To Fail
Presidential administrations from both parties keep trying to make "place-based" economic development work.
Wisconsin Politicians Want To Spend $550 Million on Ballpark Subsidies the Public Opposes
Just 24 percent of self-identified Trump voters and 34 percent of self-identified Biden voters say they support a public handout for the Milwaukee Brewers' 22-year-old stadium.
The Real Scandal in Washington Is the Government's Reckless Spending
Those sounding the loudest alarms about possible shutdowns are largely silent when Congress ignores its own budgetary rules. All that seems to matter is that government is metaphorically funded.
Companies Seeking CHIPS Act Subsidies Are Encouraged To Double-Dip
At least a dozen states have beefed up targeted incentives to coincide with handouts from the Commerce Department.
Kansas City Made a Barbie-Themed Streetcar. It Cost Taxpayers $25,000.
Officials say that the "Dream Streetcar" is intended to boost ridership, even though the streetcar is free.
Taxpayers Will Pay at Least $600 Million for Tampa Bay's New Baseball Stadium
But will it solve the team's attendance woes? Probably not.
'Bidenomics' Is Failing Everyday Americans
The big spending has fueled higher inflation, resulted in larger-than-projected deficits, and contributed to a record level of debt.
Politicians Say They Want To Fight Climate Change. So Why Are They Fighting China on Electric Vehicles?
Rather than posing a national security threat, the growth of China's E.V. industry is an opportunity for global innovation.
Subsidies Won't Stop Stagnation
Joe Biden is making an $80 billion bet that's doomed to fail.
Nikki Haley Slams Biden's 'Green Subsidies'
The GOP presidential candidate also definitively said climate change is real.
China's E.V. Graveyards Are an Indictment of Government Policy
A Bloomberg report blames "unconstrained capitalism" for a glut of abandoned electric vehicles. But the industry also received billions of dollars in public funds.
The Government Has Made College an Overpriced Scam
Thankfully, you don't need fancy dining halls or a college degree to have a good life or get a good job.
Baltimore Orioles Owners Demand Even More Unnecessary Taxpayer Money
Apparently $600 million to improve a very nice stadium isn’t enough.
Yellow Corporation To Close, Lay Off 30,000 Employees, and Likely Default on $700 Million Pandemic Aid Loan
The company blames much of its problems on the Teamsters trucking union's "intransigence," while the Teamsters say Yellow is delinquent on benefit payments.
Industrial Policy Isn't About Creating Jobs
It's a short-sighted approach that distracts us from the more important question.
Taiwanese Company Demands U.S. Taxpayers Cover the Higher Costs of Making Semiconductors in Arizona
Taiwan Semiconductor Manufacturing Company cites regulatory costs and a lack of skilled workers as specific impediments. Biden and Congress can fix those without giving out billions of taxpayer dollars.
Giving Away Taxpayer Money Is Not the Best Way To Attract Investment
State and countries should make their business climates more attractive to investment, not just dole out taxpayer money.
'Bidenomics' Is Nothing New
It's a familiar program. And it will result in higher prices, slower growth, and fewer jobs.