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With Amazon Out of New York, Some Lawmakers Seek Multistate Ban on Corporate Tax Breaks
Governing: Amazon’s yearlong, nationwide contest for its second corporate headquarters netted the internet retail giant more than $2 billion in promised tax breaks from New York state and Virginia. But after mounting public resistance to such "corporate welfare," Amazon announced Thursday that it will abandon its plans for New York City.
This, as the End Corporate Welfare Act is circulating in several states, including New York. The bill would essentially call a cease-fire on awarding tax incentives to certain companies by creating an interstate compact of states that agree to end the practice.
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