Today a group of more than two dozen House Democrats announced a new package of bills to hold corporations accountable for the tax breaks they receive.
The plan will repeal, narrow and attach stipulations to five tax breaks that currently benefit big national and international banks, oil refineries, the aerospace industry and other corporations. Descriptions of each bill can be found here.
“Once again, the recipient of the biggest tax break in Washington history announced it would be sending workers home with pink slips instead of paychecks,” said Rep. June Robinson (D – Everett), who is sponsoring the bill to tie Boeing’s tax break to Washington job levels. “This just days after lobbyists protected the company’s tax break. The people of Washington deserve better. I’m introducing this bill to hold Boeing accountable to our taxpayers.”
“There’s been a lot of talk about accountability around here the last couple weeks, but this is what real accountability looks like,” said Rep. Jessyn Farrell (D – Seattle), who is sponsoring the bill to prevent banks like Goldman Sachs from claiming a tax credit intended for community banks. “It’s about holding companies and CEOs accountable for tax exemptions for private corporate jets that shuttle around millionaires, and tax exemptions intended for small banks that now benefit Goldman Sachs and Barclays.”
“We’re here because of the accountability we have to the people of our districts,” said Rep. Marcus Riccelli (D – Spokane), who is sponsoring the bill to repeal the state B&O tax exemption for international banking facilities. “And I don’t think the hard-working families in my district want to see millions of dollars handed out to corporations that don’t give us anything back. My accountability to the people of Spokane, and all our districts, is what tells me now more than ever we need to be clear that the tax exemptions we pass have a direct benefit to Washingtonians, and if they don’t, it’s time they go away.”