Each year, U.S. state and local governments waste tens of billions of taxpayer dollars competing to lure or retain business investment, with little impact on business behavior. Edward Alden and Rebecca Strauss lay out incremental steps for curbing the subsidy war, beginning with greater disclosure and cost-benefit analyses, and building up to a multistate agreement that creates strong disincentives for continuing subsidies.
Each year, state and local governments in the United States spend more than $80 billion, or roughly 7 percent of their total budgets, on tax breaks and subsidies to attract investments from auto companies, movie producers, aircraft makers and other industries. Edward Alden and Rebecca Strauss explore the possiblity of ending such compensation.
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