Wednesday, June 12, 2024

Lawmaker: $4.4B of corporate subsidies is ‘legislative malpractice’

Rep. Dylan Wegela says money should have funded infrastructure, schools and communities By Scott McClallen
Since 2023, Michigan has authorized $4.4 billion of select corporate business subsidies.
Assuming that money is fungible, what could it have bought Michiganders?
  • The average price of a ticket to a Taylor Swift concert in 2023 was $1,088, as calculated by CNBC. At that rate, Michigan could have bought Taylor Swift tickets for 40% of the state population.
  • Or, Michigan taxpayers could have bought 33 million days — 90,000 years and then some — at Disney World via $130-day passes.
  • The money could have funded child care and living expenses for the roughly 10,000 Michigan kids in foster care. 
  • It could have lowered Michigan’s personal income tax rate to 2.85%, down from 4.25%.
...He cited a 2023 report from the Public Service Consultants, which estimates Michigan underfunds transportation infrastructure by $3.9 billion, and an Education Law Center report that said public education is underfunded by $4.5 billion. 

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