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Eliminate Corporate Subsidies

Eliminate Corporate Subsidies

The BriefGet Up To Speed

The auto industry, agriculture, the energy sector. What do they have in common? These industries benefit from government subsidies in the form of loans, tax breaks, regulation, and other preferences. Critics from the left and right say that not only do these subsidies transfer wealth from taxpayers to corporations, they distort the markets and our economy. Proponents say that government has an important role to play in launching innovation via strategic investment, and its support helps American companies thrive. Do we need subsidies, or is this corporate welfare?

  • Orville Schell

    7 Items
    • Director of the Center on U.S.-China Relations at Asia Society
    Read Bio

    Orville Schell interview, Real News Network, April 7, 2011 & May 14, 2011 Schell discusses American debt and what’s happening inside China in an interview with Real News Network.

    Saturday, May 14, 2011

    Orville Schell interview, Real News Network, April 7, 2011 & May 14, 2011 Schell discusses American debt and what’s happening inside China in an interview with Real News Network.

    Saturday, May 14, 2011

    Orville Schell, Atlantic, February 14, 2012 From here on, as China's wealth and power increases, its national challenge will be to start letting itself feel sufficiently reinstated in the congress of great nations that it does not need to wallow in narratives of victimization, or be so militant about grasping symbolic demonstrations of its equality or superiority.

    Tuesday, February 14, 2012

    The world’s biggest corporation and the world’s most populous nation have launched a bold experiment in consumer behavior and environmental stewardship: to set green standards for 20,000 suppliers making several hundred thousand items sold to billions of shoppers worldwide. Will that effort take hold, or will it unravel in a recriminatory tangle of misguided expectations and broken promises?

    Thursday, December 1, 2011

    The changing relationship between China and America will be one of the defining foreign policy issues of our times. To understand its dynamic, says the sinologist, we must take account of China's lingering sense of victimhood.

    Wednesday, September 9, 2009

    The bitter new reality is that the US and “old Europe” have recently edged closer to becoming “developing countries.” If the Obama administration and EU officials cannot figure out the proper mix between economic engagement and protecting national security, investment capital from China will go elsewhere.

    Monday, August 23, 2010

    China is finding it ever more difficult to straddle the divide between its anachronistic political system and its booming market economy. A reconsideration of the country's political future must come soon. Fortunately, China can find guidance in its own history: a previous generation of reformers who sought to balance the imperatives of modernity with the best aspects of Chinese tradition.

    Wednesday, September 9, 2009
  • Peter Schiff

    4 Items
    • CEO & Chief Global Strategist, Euro Pacific Capital
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    Why Euro Pacific Capital CEO Peter Schiff will argue that China does economic policy better than the U.S. at the Slate/Intelligence Squared live debate on March 13.

    Friday, March 9, 2012

    Schiff discusses the U.S.-China trade imbalance at a Council on Foreign Relations meeting, a part of the McKinsey Executive Roundtable Series in International Economics.

    Wednesday, March 9, 2011

    Peter Schiff on CNN Schiff on how China is more free market and a better place to start a business than America.

    Wednesday, December 31, 1969

    The global economy has become so unbalanced that even government ministers who would normally have trouble explaining supply or demand clearly recognize that something has to give. To a very large extent the distortions are caused by China’s long-standing policy of pegging its currency, the yuan, to the U.S. dollar.

    Wednesday, January 19, 2011
For
Conservative billionaire Charles Koch told his ultra-rich friends that they face a “life and death” decision whether to keep lobbying for tax breaks and government subsidies.
Saturday, August 1, 2015
Philip Elliott
It’s that time of year again, when Republicans and Democrats put aside their differences to dole out gifts of corporate welfare to a lucky few.
Monday, November 23, 2015
Marc Short and Andy Koenig
Corporate welfare in the federal budget costs taxpayers almost $100 billion a year.
Wednesday, July 25, 2012
Tad DeHaven
Corporate welfare or crony capitalism is a destructive force that undermines public trust in the institutions of the free market and in government itself.
Wednesday, June 10, 2015
Romina Boccia

Year after year, Congress has renewed a package of temporary tax provisions known as the “tax extenders.” Nearly all of them should be substantially curtailed or allowed to remain expired.

Monday, November 23, 2015
Against
The case for solar isn’t limited to prices and jobs. Consumers want choice. Unfortunately, in most markets around the country, electricity is still one of the few areas where we have virtually no choice over our supplier.
Tuesday, January 5, 2016
Ben Ho

Taxpayer support for shale fracking went far beyond research.

Monday, October 22, 2012
Michael Shellenberg and Ted Nordhaus
If we are to have a productive discussion of fossil fuel subsidies, it is important that participants understand what they are, their intended purpose, and the projected impact of removing them.
Wednesday, April 25, 2012
Robert Rapier
Government efforts are the source of new technological visions for the future.
Thursday, April 24, 2014
Jeff Madrick
The policy rationale for the R&D tax credit and bonus depreciation is abundantly clear; Congress should extend and then make them permanent.
Monday, October 26, 2015
Joe Kennedy
Background
Subsidy Tracker 3.0 is the first national search engine for economic development subsidies and other forms of government financial assistance to business.
Thursday, July 21, 2016
Over the past 15 years, the federal government has provided $68 billion in grants and special tax credits to business, with two-thirds of the total going to large corporations.
Sunday, March 1, 2015
Philip Mattera and Kasia Tarczynska
Fork over taxpayer cash, or the jobs go elsewhere. That’s the threat behind the bidding wars among corporations, states and cities for factories, offices and other investments.
Thursday, January 14, 2016
Brian Chappatta
A searchable database of incentive spending.
Saturday, December 1, 2012
Louise Story, Tiff Fehr and Derek Watkins
Export-Import Bank
Congress let the Export-Import Bank’s lending authority expire after June 30, 2015, but some House Republicans joined Democrats to force a vote in October to bring back the lender.
Wednesday, March 9, 2016
Brian Wingfield
The Ex-Im Bank has actually returned $2 billion more to the Treasury than it has required to cover operating costs and any bad loans over the last five years. And it helps the United States compete with 50+ other nations that have financing mechanisms for their own firms trying to do business abroad.
Saturday, September 6, 2014
Michael O’Hanlon and David Petraeus
The Ex-Im bank subsidizes politically connected firms by providing them with below market loans. This can boost exports, but the bank also subsidizes imports, leaving its direct impact on the trade balance uncertain.
Monday, July 14, 2014
Dean Baker
For the better part of two years, a group of influential business interests spent hundreds of thousands of dollars pressuring lawmakers to renew the credit export agency that, until recently, was a relatively obscure and uncontroversial provider of loans to foreign buyers purchasing U.S.-made goods.
Friday, December 4, 2015
Catherine Ho and Paul Kane
GE has recently said it would shift hundreds of jobs abroad because of the Export-Import Bank's inability to help finance international deals.
Thursday, October 29, 2015
Marilyn Geewax
Background of the Ex-Im Bank, discussion of the international context of the Bank, an analysis of key issues that Congress may consider in a reauthorization debate, and the congressional outlook on Ex-Im Bank.
Wednesday, March 25, 2015
Shayerah Ilias Akhtar
Farm Subsidies
Vincent H. Smith says farmers should stand on their own. W. Robert Goodman says subsidies are important for food security.
Sunday, July 12, 2015
Vincent Smith and W. Robert Goodman
Like so many government programs — what subsidies need is not the ax, but reform that moves them forward.
Tuesday, March 1, 2011
Mark Bittman
The database tracks $322 billion in farm subsidies from commodity, crop insurance, disaster programs and conservation payments paid between 1995 and 2014.
Wednesday, December 31, 1969
Farm subsidies provided by the federal government are supposed to help agricultural producers manage the variations in agricultural production and profitability from year to year - due to variations in weather, market prices, and other factors - while ensuring a stable food supply. In reality, this support is highly skewed toward the five major \"program\" commodities of corn, soybeans, wheat, cotton, and rice.
Wednesday, December 31, 1969
The Federal Crop Insurance Program is administered by USDA's Risk Management Agency (RMA). The program provides producers with two basic options. They can elect to secure an insurance policy that compensates them if they experience a loss in crop yields or if they experience a decline in revenue.
Wednesday, December 31, 1969
State Incentives
Michigan’s corporate-tax incentives helped jump-start the state’s lagging economy, officials say, but now those same curative measures are hurting the state’s budget.
Wednesday, February 11, 2015
Matthew Dolan
A Times investigation has examined and tallied thousands of local incentives granted nationwide and has found that states, counties and cities are giving up more than $80 billion each year to companies.
Saturday, December 1, 2012
Louise Story
Polls
While most Americans may say oil, gas, and coal companies shouldn’t get taxpayer dollars to help run their business, they are willing to make an exception for alternative energy companies.
Thursday, April 17, 2014
Emily Ekins