Monday, May 11, 2015

Scott Walker’s Corporate Tax Breaks Come Back To Haunt Him

http://thinkprogress.org/election/2015/05/07/3655893/scott-walkers-corporate-tax-breaks-come-back-haunt/
"It’s a question lawmakers in many states are asking right now, as deep tax cuts passed by Republican governors have led to ballooning deficits and similar plans to raid public university funding.
In Kansas, Governor Sam Brownback’s tax cutting overhaul left the state coffers so low that public school districts will close down early this year.
In Louisiana, Governor Bobby Jindal — another likely candidate for president in 2016 — has chosen to preserve corporate tax breaks and cut the budget of the Louisiana State University system so deeply that the schools are exploring bankruptcy. Students and their supporters have descended on the Capitol to protest the proposed cuts, which seems to have moved some state lawmakers. On Thursday, the House of Representatives passed a budget that got rid of more than $200 million in corporate tax breaks — but Jindal has vowed to block the move with his veto pen.
And in Illinois, Governor Bruce Rauner’s budget that seeks to cut both income and corporate taxes and funding for the state’s universities is running into trouble this week. The Civic Federation, a budget watchdog, officially came out against the plan this week, calling it “unrealistic” and “unachievable.” In the state House of Representatives, the budget failed to get a single “yes” vote.
Despite these examples, Republican governors’ enthusiasm for slashing taxes, particularly corporate and income taxes, continues apace."