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pelespirit

What local Texans pay to subsidize new gas terminals: $4 million per job (www.motherjones.com)

submitted 3 weeks ago by pelespirit to c/politics

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Three low-income school districts in Texas have granted more than $2 billion in tax relief to new liquefied natural gas (LNG) terminals on the Gulf Coast, according to a report released Monday by the Sierra Club, which tallied publicly available data on agreements between companies and local public entities.

Those tax breaks, intended to attract investment and employment opportunities, totaled about $4 million per permanent post-construction job promised by developers of the gas projects, said the 34-page report, “The People Always Pay: Tax Breaks Force Gulf Communities to Subsidize the LNG Industry.”

Sierra Club researchers compiled dozens of different tax agreements from 15 LNG projects in Texas and Louisiana that are currently operating, under construction or planned. Proponents of such incentive programs say offering tax breaks supports big business that fuels the economy, attracts investment and upholds American energy dominance. Critics say the tax breaks deprive local communities of important revenue.

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[–] pelespirit 3 points 3 weeks ago

This is so hard to read. These are low income, people that probably can't afford to leave.