Members of the State House need to reject new corporate welfare programs, and special interest tax carve outs, by voting against House Bill 1224.
House Bill 1224 contains several provisions that significantly decrease economic freedom for North Carolina taxpayers. These provisions include:
- A new “Jobs Catalyst” fund that will allow the Department of Commerce to pay individual companies up to $50 million in recruitment subsidies.
- An extension of the North Carolina’s green energy tax credit designed to help certain solar projects. Lawmakers agreed last year to let this special interest loophole to expire.
- Increased funding for the state’s Job Maintenance and Capital Development Fund Grant (JMAC) designed to subsidize a paper mill in western North Carolina conversion to a greener power source.
North Carolinians should oppose corporate welfare in any form, and maintain that government should not pick economic winners and losers.