Thursday, December 18, 2014
Foundations Should Push for Disclosure of Corporate ‘Welfare’ Deals
For the first time ever, the body that oversees government accounting standards is proposing that state and local governments report how much revenue they lose to business tax breaks granted in the name of economic development.
While many foundations and nonprofits might not think this matters to them, this accounting change could be a major boon in helping channel public attention and advocacy to stem the loss of billions of dollars that go into company coffers, instead of helping the poor and providing education, health care, housing, and other local services....