"NEW YORK SCHOOLS are losing out on millions of dollars because of an arcane local funding mechanism for corporate subsidies. Now, the fight against this tool has some powerful new supporters: labor unions. On Wednesday, good government groups, legislators, a local development authority board member, and their latest allies from the statewide teachers union and the afl-cio gathered in Albany to urge the state to stop the bleeding.
School districts lost $1.8 billion to corporate tax breaks in 2021, according to a study by the subsidy watchdog group Good Jobs First. That’s because all over the state, industrial development agencies have exempted businesses from paying full property taxes for projects ranging from real estate to power plants."
Comments