Hidden Handouts to Corporations Found in Walker’s Budget

[Donnachaidh]

http://www.prwatch.org/news/2011/04/10644/hidden-handouts-corporations-found-walker%E2%80%99s-budget

The almost $200 million in corporate tax cuts in Wisconsin Governor Scott Walker’s budget have been both lauded and hated by the public and media since it was first introduced earlier in the year. When it was discovered that businesses like M&I Bank and others who were large campaign contributors to Walker’s gubernatorial campaign were possibly receiving extra provisions in the budget through changes in the consolidated reporting law, suspicions started cropping up about Walker possibly repealing the law.

Robert Kraig, Executive Director of Citizens Action of Wisconsin, revealed on the Sly in the Morning show on WTDY in Madison, Wisconsin that Walker’s budget changes two important parts of the 2009 Consolidated Reporting law that will greatly lower, or even eliminate, taxes paid by corporations in Wisconsin.

Right now, the “Department of Revenue now has the authority to investigate any groups who are created for tax purposes and to disallow them if they are for the purpose of tax avoidance,” said Kraig.

One of the changes in the budget will wipe out the ability of the Department of Revenue to investigate or disallow these subsidiaries.

More at the link --

[Blue Owl]

1. Of the corporations, by the corporations, and for the coporations

Screw the people, only the corporations matter.

That's Scott Focker for you.

[DirkGently]

2. Great find.