State and local governments would not be allowed to provide tax breaks or other incentives to corporations looking to locate or expand operations.
Why is this important?
State and local governments frequently give massive tax breaks and financial incentives to attract corporations to locate in their region. The loss of tax revenue is made up by citizens. Corporations have all the bargaining power by making different locales a competitive market for incentive tax relief. This Act would not allow any local or state tax breaks or incentives to be paid to corporations.
