Ted Cruz Bills Aim to Advance School Choice Across the Country Through Tax Credits, 529 Expansion

Sen. Ted Cruz, R-Texas, commemorated National School Choice Week by filing two bills to advance school choice, one of which his staff said would be the most significant educational reform since the GI bill. “We need to provide students with a variety of educational options to fit their needs,” Cruz told The Daily Signal in an email statement Tuesday. “I have often said that school choice is the civil rights issue of the 21st century, and I believe no differently today than I did when I began serving in the Senate a decade ago.

Read More

Georgia’s $6.5 Billion in Film Subsidies Add Up to $416K per Each New Industry Job

Georgia officials pride themselves on the state’s tax credits for the movie industry, but a leading economist says the tax credits don’t benefit the state.

“There’s nothing politicians love more than jocks and movie stars,” Kennesaw State University economist J.C. Bradbury told The Center Square. “That’s why they give out a lot of subsidies for sports stadiums, and film and movie credits are also something that are often given out.

Read More

Georgia’s US Senators Vote for Bill Stripping One of State’s Largest Employers of EV Tax Credits

Georgia’s two senators voted for the Democrats’ recently enacted Inflation Reduction Act, even though it strips South Korean automaker Kia — one of the state’s largest employers — of eligibility for the law’s electric vehicle tax credits.

Kia, which employs thousands in Georgia, is planning to build another automobile factory in the state and hire 8,500 people, according to The Atlanta Journal-Constitution. Due to domestic assembly requirements in the new law, however, the automaker’s EV and plug-in fleet will lose their current eligibility for $7,500 tax credits on the purchase of new electric vehicles.

Read More

Robin Hood in Reverse: Democrats Plan $12,500 Tax Credits for Pricey Electric Car Purchases

House Republicans are arguing against a Democratic proposal to increase the $7,500 taxpayer-funded credit for electric car purchases to as much as $12,500, arguing that it would disproportionately help wealthy Americans who can afford to buy pricey electric vehicles.

Democrats on the House Ways and Means Committee have proposed increasing the credit as part of their party’s filibuster-proof $3.5 trillion budget reconciliation bill, which includes new social programs and billions for electric vehicle infrastructure.

Read More

Amazon Calls for Higher Taxes on All Corporations Except Itself

Amazon logo on Samsung smartphone screen

While the tech giant Amazon has publicly endorsed proposals to raise the corporate tax rate in the United States, the company has been secretly lobbying to keep its own tax rates low, Politico reports.

Last year, during the 2020 presidential election, Amazon CEO Jeff Bezos openly supported then-candidate Joe Biden’s proposals to raise taxes on American corporations. Those proposals have re-emerged in recent weeks as a possible means of funding a possible infrastructure bill, and Biden has been advocating for other countries around the world to adopt higher corporate tax rates as well.

But recently, Amazon has been stepping up its lobbying efforts to try to convince Congress and the White House to allow the company to keep using certain tax breaks in order to keep its own rates low. The retail giant hired a tax lobbyist named Joshua Odintz, who formerly worked as a Democratic aide on Capitol Hill and then as an official in the Obama Administration. In addition to Amazon’s own efforts, similar lobbying has been undertaken by a group known as the “R&D Coalition,” which consists of several companies and organizations including Amazon, Intel, and the National Association of Manufacturers.

Read More