Report: Few States Effectively Track Tax Breaks
Most states are doing a poor job tracking whether their tax breaks for businesses are actually spurring job growth, including some that have poured hundreds of millions of dollars into corporate incentive programs even while grappling with record deficits, according to a new report.
The report released Thursday by the Pew Center on the States found that no state regularly takes a hard look at the effectiveness of all of its tax breaks. Twenty-five states and Washington, D.C., do little if any evaluation, including Illinois, which is among the states facing major budget struggles.
"Given that states are rebuilding their budgets and economies in the wake of the Great Recession, these are mistakes states can't afford to make," Pew senior researcher Jeff Chapman said.
Read the full report at npr.org.
- Economic Development Tax Incentives