Wednesday, March 20, 2013

Buffett subsidiary: Nebraska corporate welfare queen

Chart: Lee Ann O'Neal based on data collated by
Deena Winter. See entire graphic here.
Deena Winter, perusing a recent state performance audit, found that the Nebraska Advantage Act tax incentives ranged from about $43,000 to almost $235,000 per new job created. 

     The audit found ample data for the largest and most-used incentive program — the Nebraska Advantage Act, passed by lawmakers in 2005 as an update to the original 1987 law — but little performance data for the other three programs. While those three programs are much less costly than the Advantage Act, auditors said lawmakers may want to require the state to report more about who’s using the programs...
     Auditors also found that although the state Department of Revenue is required by law to report to lawmakers which incentive programs should be eliminated or scaled back, the department always reports “no recommendation.”

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