Oct 04, 2016

Tax Extenders Are Corporate Welfare

Post by Derek Yale

Today, Freedom Partners released a video highlighting some of the most egregious examples of corporate welfare in Washington, D.C.: Temporary tax preferences for big business.

Most Americans have never heard of these so-called “tax extenders,” but they are exactly the sort of self-serving, “business-as-usual” behavior that we all despise. This hodgepodge of unrelated special-interest tax carve-outs are set to expire at the end of the year, but reports now say that Congress could take up reauthorization as early as November. These tax breaks overwhelmingly benefit the wealthy and the well-connected–and they cost taxpayers billions.

Unsurprisingly, when there are billions of dollars on the line, there are a lot of powerful people in Washington lining up with their hands out. Lobbyists for select interests and industries, like race horse owners, Hollywood producers, and NASCAR are already out in force on Capitol Hill to make sure they get their taxpayer-funded perks.

Freedom Partners believes Congress should end corporate welfare and reward hard work, not political power, which is why we joined in an effort with over 30 free-market groups focused on stopping corporate welfare and higher spending in the upcoming lame-duck session of Congress. Lawmakers should not be able to rig the system to advantage big corporations, campaign donors and the lucky few.

Not only will Freedom Partners continue to fight against all forms of corporate welfare, but we will be holding accountable politicians who support these tax extenders and put special interests ahead of the taxpayer’s interests.