photo #9473158

Christina Aquayo News #News Democrats are calling for the execution of Elon Musk over tax incentives given to his companies in Texas; however, they are failing to mention that Democrat governors give tax incentives to large companies to bring them into their states, including: Gretchen Whitmer (Michigan): #michigan Offered Micron Technology a tax incentive package totaling about $27.9 billion (including 50-year property-tax abatements). The company chose New York instead. Authorized deals giving Ford’s Marshall battery plant about $1 billion and other large packages. Whitmer has authorized $6.9 billion in subsidies since 2019 Kathy Hochul (New York): #newyork Gave Micron’s Clay/Syracuse project $2.2–$5.5 billion in tax credits for early phases, plus local sales-tax exemptions and PILOT (payment in lieu of taxes) property-tax deals. New York’s film/TV tax credit runs about $700 million each year. Gavin Newsom (California): #cali Expanded the film and television tax credit from $330 million to $750 million each year and proposed to raise it to at least $1 billion a year through 2040. 🔵Josh Shapiro (Pennsylvania): #pennsylvania Has handed out $457 million in tax incentives to large companies, including about $100 million for Eli Lilly. 🔵Former Govl Phil Murphy (New Jersey): #NewJersey Gave $14 billion in corporate tax incentives. Signed legislation providing tax breaks of about $1 billion for corporate projects. Gave a $300 million tax break for renovations at the Prudential Center. 🔵JB Pritzker (Illinois): #Illinois Approved more than $650 million in data center tax incentives. How it works: ➡️Counties and states compete for companies by temporarily cutting property taxes and sales taxes or handing out cash grants so a factory or headquarters lands in their area instead of a rival’s. ➡️In Texas, which has no state income tax, the main tools have been: ➡️Chapter 312 city/county abatements (up to 10 years), and ➡️The expired Chapter 313 school-tax value limitations (10 years) ➡️The company still pays taxes: 🔷️property taxes on land and buildings 🔷️The Texas franchise/margin tax, and 🔷️Non-exempt sales taxes. 🔷️Employees generate sales taxes, Property taxes on homes, and payroll-related taxes. 🔷️Employers pay unemployment and other payroll taxes. Over time, the investment raises local property values and creates supplier spending. Republicans and free-market analysts say broad tax cuts should apply to every business and would be a bigger benefit than just the tax breaks for large corporations. Would you rather see states cut taxes for every business or keep handing out the tax incentives to the biggest companies? #ChristinaAguayoNews