• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

    May 9, 2025

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»States And Localities, Flush With COVID Cash, Are Showering Corporate America With Handouts: REPORT
Business

States And Localities, Flush With COVID Cash, Are Showering Corporate America With Handouts: REPORT

February 22, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
US-AUTOMOBILE-LAYOFFS-POLITICS-GM
Share
Facebook Twitter LinkedIn Pinterest Email

State and local governments issued at least eight separate $1 billion subsidy packages to major corporations in 2022, thanks in part to federal COVID-19 spending, according to analysis by the nonprofit think tank Good Jobs First, The Wall Street Journal reported Tuesday.

State governments — which have amassed a record-breaking $136.8 billion in cash reserves thanks in part to COVID-19 stimulus funds — are typically restricted from using federal funds for corporate tax credits, according to the WSJ. However, they are usually able to pay other expenditures using those funds, leaving state money to offer for subsidies.

Governments in Georgia, Michigan and West Virginia are among those offering these massive subsidies, the WSJ reported.

Look, I’m a capitalist. But the wealthiest and biggest corporations need to pay their fair share.

Thankfully now, because of the law I signed, billion-dollar companies have to pay a minimum 15 percent in taxes.

— President Biden (@POTUS) February 12, 2023

President Joe Biden recently touted the fact that his signature Inflation Reduction Act (IRA) would implement a 15% minimum corporate tax rate, making corporations pay their “fair share,” at his State of The Union address in early February. The IRA was initially projected to offer roughly $30 billion in subsidies by the Congressional Budget Office, but private sector analysts now estimate that the bill will offer at least $136 billion in subsidies following a spike in domestic manufacturing investments.

In exchange for a portion of roughly $7.5 billion in federal subsidies, the Biden Administration recently struck a deal with electric vehicle giant Tesla to make nearly half of its 17,000 electric vehicle charging stations accessible by other brands. The Biden administration’s Bipartisan Infrastructure Law has set aside nearly $25 billion to subsidize the development of electric vehicle infrastructure, with a goal for the U.S. to have 500,000 such chargers available nationwide by 2030, according to a White House fact sheet.

See also  REPORT: Police Respond To Alleged Intruder At Paris Jackson’s Los Angeles Home

While mega-deals are climbing, so too are relatively smaller deals of $50 million or more, the WSJ reported. States and cities offered 23 such deals in 2022, the highest level in seven years, but this number does not include the significant breaks offered by both the Inflation Reduction Act and the Chips and Science Act.

In many cases, state lawmakers are unaware of which company they are offering subsidies to, the WSJ reported. Business negotiators tend to hide their clients’ identities to prevent information about their interests leaking to the press.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

America cash Corporate Covid Flush Handouts Localities Report Showering states
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Where Have All The Masks Gone?

September 8, 2023

Top Experiences To Explore In A Canadian Winter

March 29, 2025

Jamie Foxx Daughter Blasts News Media, Says Actor Has Been Home from Hospital for ‘Weeks’

May 17, 2023

Thrive While You Drive With These 5 Tips For A Safer Road Trip 

March 18, 2024
Don't Miss

How Smart Mattresses Improve Sleep Quality For Couples

Lifestyle May 9, 2025

Sharing a bed with your partner can be romantic… until it’s not. One of you…

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,111)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,628)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Trouble Staying in the Moment? Try This Mindfulness Practice

May 28, 2023

Elon Musk’s Tesla Blames Customers for Its Defective Parts

December 28, 2023

‘Real Housewives of Beverly Hills’ Star Garcelle Beauvais Demands Biden Do More About Crisis in Haiti

October 3, 2023
Popular Posts

How Smart Mattresses Improve Sleep Quality For Couples

May 9, 2025

OpenAI CEO Warns: ‘Not A Huge Amount Of Time’ Until China Overpowers American AI

May 9, 2025

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.