State records show Walmart paid $22.6 million in cash last year for the right to claim $33.6 million in energy tax credits. The cash went to seven projects, including two eastern Oregon wind farms and SolarWorld's manufacturing plant in Hillsboro. In return, Walmart profits $11 million on the deal because that's the difference between what it paid for the tax credit and the amount of its tax reduction. The loser in the transaction is Oregon's general fund -- which pays for public schools, prisons and health care programs -- because the state is out the full $33.6 million in tax revenues. Read more...
The loser in the transaction is Oregon's general fund -- which pays for public schools, prisons and health care programs -- because the state is out the full $33.6 million in tax revenues.
Read more...
Possibly related history:
S.Res. 98, 1997 S. 280, 2007, Lieberman, HRC, Collins, Durbin, Lincoln, McCain, Nelson, Obama, Snowe instead of REDD Diversity is the key to economic and political evolution.
It is logical for such tax credits to be taken over by companies that are rich - you need companies that do pay tax bills for the taxcredits to have any value, and it is logical to pay less for a tax credit that you will be able to use only later. In the long run, we're all dead. John Maynard Keynes
En deuxième lieu, le Conseil a jugé que l'importance des exemptions totales de contribution carbone étaient contraires à l'objectif de lutte contre le carbon réchauffement climatique et créaient une rupture d'égalité devant les charges publiques. (articles 7, 9 et 10). this contribution (articles 7, 9 and 10). --Décision n° 2009-599 DC du 29 décembre 2009 Decision No. 2009-599 DC of December 29, 2009
