In case you have not been keeping up, there has been a recent outbreak of tax “incentives”. Various companies have been handpicked for tax
favors incentives for expanding their operations. Most recently a theme park in-progress in Northern Kentucky received $43 million in tax breaks as well as securing an additional $11 million in road improvements.
As I mentioned yesterday, I am all for tax breaks – in fact, we should extend them to every single business in the state. The problem lies with the origin, oversight and application of these “incentives”.
Where in Frankfort is there a check and balance for this type of activity? Who decides what businesses receive tax breaks, how much they are granted, and what unfortunate entrepreneurs are stuck paying the full tax rate.
I would think that most businesses would like to have $11 million in road improvements around their operations. Why is this process not transparent?
Contact your state legislator and tell them you want this process to be more transparent!