Gov. Roy Cooper, who claims to have vetoed this year’s state budget in part because it prioritizes “tax breaks for corporations,” is back again touting a tax break for one of the largest corporations on the planet.
From a press release issued by his office Friday:
Microsoft Corp. (NYSE: MSFT), a technology company, will create 430 new jobs in Mecklenburg County, Governor Roy Cooper announced today … “Global companies like Microsoft can choose anywhere in the world to expand, and again a highly recognizable brand has decided North Carolina is the right fit,” said Governor Cooper.
And what helped make North Carolina the “right fit” in Microsoft’s eyes? A tax break, of course.
Microsoft’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today … the JDIG agreement authorizes the potential reimbursement to the company of up to $7,910,250, spread over 12 years.
When Cooper says he’s against “corporate tax cuts,” he’s lying. What he really means is that he’s against cutting taxes across the board for businesses. He is more than happy to grant tax cuts – and taxpayer handouts – to select corporations in a game of blatant cronyism. Cooper prefers this system of cronyism over across the board tax cuts because it enables him to get positive press coverage, and singling out corporations for privileged treatment creates greater opportunities for quid pro quo.
As we’ve documented several times before, Cooper doesn’t oppose cutting taxes for corporations, or even giving corporations taxpayer handouts. He’s all in favor of them, when they benefit him.
