Monday, September 15, 2008

starring Reagan Farr as Santa Clause

Revenue Commissioner Reagan Farr, who normally collects taxes is apparently changing roles and will start handing them out, says we are going to hand out even more VW related corporate welfare to the tune of $30,000 for up to 10,000 jobs.....lets see, carry the 000's and multiply by 30...that's $300,000,000. And that is in addition to the $577,000,000 we are already handing over....we are getting very close to $1 billion.

Let us now remember that the Alabama Governor, who knows no shame when handing out taxpayer money, said $234 million was too much.

Link

The state has extended Volkswagon’s landmark tax credits to suppliers who follow the automaker to Tennessee. Any supplier deemed “integral” to VW’s business can get 30-thousand dollars for every job they create.

Revenue Commissioner Raegan Farr says the tax credit was tailored to the planned VW plant in Chattanooga, mostly because suppliers could easily locate in Georgia and Alabama.

Farr says, however, the incentive isn’t isolated to the Chattanooga area. It puts all of Tennessee in play for VW parts suppliers, who are expected to create an additional 10-thousand jobs.