Solar in the News
The United States of subsidies: The biggest corporate winners in each state
In late 2013, Washington state made history.
On a mid-November Monday, Washington Gov. Jay Inslee (D) signed into law the largest corporate tax break in any state’s history, with an estimated lifetime value of $8.7 billion. The package was the result of a special three-day session Inslee called in order to entice Boeing to build its 777X plane in the state. Boeing didn’t just score big that day. The aerospace giant has received more state and local subsidy dollars than any other corporation in America, according to newly released data compiled by Good Jobs First, a policy resource center on subsidy data.
The state subsidy data was released Tuesday in conjunction with similar federal data and a matching report—”Uncle Sam’s Favorite Corporations”—which reviews the grants, loans and other subsidies distributed by the federal government since 2000. Over the course of those 15 years, the federal government has distributed $68 billion in grants and special tax credits to businesses, with two thirds of that transferred to large corporations. Six companies have received $1 billion or more, while 21 have received $500 million or more.
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