Young Philly Politics - corporate welfare en Pennsylvania Tax Giveaways and an Island in the Sun <p><strong>By Jamar Thrasher, <a href="">Third and State</a></strong></p> <p>A few weeks ago, the Pennsylvania General Assembly fast-tracked <a href="" target="_blank">a bill</a> in the waning days of the legislative session to allow certain private companies to keep most of the state income taxes&nbsp;of new employees. News reports to follow indicated the new tax giveaway was designed to lure California-based software firm Oracle to State College.</p> <p>Well, it turns out the CEO of Oracle, which will benefit from the largess of Pennsylvania taxpayers, recently bought his very own Hawaiian island, as CNN <a href="" target="_blank">reported</a> back in June.</p> <p>Oracle CEO Larry Ellison, the third richest man in the U.S., purchased about 98% of Lana'i, the sixth largest of the Hawaiian islands. Forbes <a href="" target="_blank">reported</a> that the deal was rumored to be worth $500 million.</p> <p>As CNN tells us:</p> <blockquote><p>The island includes two luxury resorts, two golf courses, two club houses and 88,000 acres of land, according to a document filed with the Public Utilities Commission.</p> </blockquote> <p>Which bring us back to Pennsylvania, where Governor Corbett recently signed House Bill 2626, allowing qualifying companies that create at least 250 new jobs within five years to pocket 95% of the personal income taxes paid by the&nbsp;new employees.&nbsp;</p> <p><a href="">read more</a></p> corporate welfare economic development Income Inequality Pennsylvania Pennsylvania Budget State Budgets Tax Giveaways Taxes Thu, 08 Nov 2012 16:02:31 +0000 8546 at A Rare Victory In The Endless Fight Against Corporate Welfare <p><strong>By Mark Price, <a href="">Third and State</a></strong></p> <p>In a rare victory against corporate welfare in Pennsylvania, Ahold USA has withdrawn its request for property tax breaks for a meat-packaging facility it is building in Lower Allen Township, Cumberland County.</p> <ul> <li>Jim Ryan, <em>Central Penn Business Journal</em> — <a href="" target="_blank">Ahold drops LERTA request for meat-packaging plant</a></li> <li>Monica Von Dobeneck, <em>The Patriot-News</em>&nbsp;—&nbsp;<a href="" target="_blank">Giant Foods owner withdraws request for tax break for its meat repackaging plant in Lower Allen Township</a></li> </ul> <p>As Michael Wood <a href="" target="_blank">explained</a> before the request was withdrawn:</p> <p><a href="">read more</a></p> corporate welfare economic development Pennsylvania Pennsylvania Budget Tax Giveaways Tax Incentives Taxes Thu, 18 Oct 2012 20:53:53 +0000 8540 at New Abatement Article <p>The New York Times has a <a href="">good article</a> on tax subsidies and abatments poaching from the high-tax climate of New York. Interestingly, one of the main opponents to big abatments is Kevin Gillen of Econsult.</p> abatments corporate welfare taxation Mon, 02 Mar 2009 21:30:53 +0000 Joshua911 5111 at