Last summer, Texas IAF leaders and nonprofit allies shut down Chapter 313 (a state tax exemption program giving away close to a billion dollars per year to major industrial and petrochemical companies). Since then, over 400 corporate applications have flooded the system ahead of the program's expiration date at the end of this year -- more than twice as many as before.
Reverend Minerva Camarena Skeith of Central Texas Interfaith/Texas IAF explains to Jon Stewart the impact of state legislation that allows major corporations to siphon off state funding that could otherwise go to public schools.
The Problem with Jon Stewart will air this episode on Friday, October 21st.
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Additional background on Texas IAF effort:
Texas' Largest Corporate Welfare Program Is Leaving Companies Flush and School Districts Broke, Texas Observer
Huge Corporations are Saving $10 Billion on Texas Taxes, and You're Paying For It, Houston Chronicle
Sapped by Subsidies: 313 Deals Hurt Texas Cities, Dallas Morning News [pdf]
No More Hogs at the Trough-Containing Corporate Subsidies in Texas, Nonprofit Quarterly
The Unlikely Demise of Texas' Biggest Corporate Tax Break, Texas Observer
Industrial Areas Foundation published this page in Updates 2022-10-20 16:30:16 -0500