To: The Maine State House, The Maine State Senate, and Governor Janet Mills
"NO!" to Corporate Welfare for General Dynamics
Please oppose any form of L.D. 1781, "An Act To Encourage New Major Investments in Shipbuilding Facilities and the Preservation of Jobs".
Why is this important?
General Dynamics -- the parent company of Bath Iron Works -- is again asking the state of Maine for a tax rebate (with the initial request = $60 million over 20 years).
At a time of numerous competing needs for limited tax revenue, an incredibly profitable company (~$3 billion in profits annually; $9.4 billion spent buying its own stocks back over the past 3 years; CEO Phebe Novakovic made $21 million in 2016) does not need "assistance".
Further, General Dynamic is employing mafioso-type threats, related to contracts and jobs, to hold the state of Maine hostage to their demands for these tax cuts; we are especially offended by such behavior.
We join with countless people across the state and dozens of organizations who say enough is enough with this particularly obscene form of corporate welfare.
Please oppose L.D. 1781 in any form.
NOTE: this link (and associated links) can provide basic and detailed information regarding this issue; see https://goo.gl/J3nLNY
At a time of numerous competing needs for limited tax revenue, an incredibly profitable company (~$3 billion in profits annually; $9.4 billion spent buying its own stocks back over the past 3 years; CEO Phebe Novakovic made $21 million in 2016) does not need "assistance".
Further, General Dynamic is employing mafioso-type threats, related to contracts and jobs, to hold the state of Maine hostage to their demands for these tax cuts; we are especially offended by such behavior.
We join with countless people across the state and dozens of organizations who say enough is enough with this particularly obscene form of corporate welfare.
Please oppose L.D. 1781 in any form.
NOTE: this link (and associated links) can provide basic and detailed information regarding this issue; see https://goo.gl/J3nLNY