Subsidy Sheet: Expanding Call to Freeze NY Corporate Giveaways


Reinvent Albany and other advocates gathered at the state capitol yesterday to publicize a letter urging Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins to freeze corporate giveaways in their one-house budgets. Dozens of groups are objecting to the billions in new and expanded subsidies to wealthy investors and corporations.

New York is confronted both by massive wealth and societal inequality, and there is a mountain of evidence showing that giving wealthy investors and corporations huge wads of taxpayer dollars is simply dumb, wasteful, and corrupt. The Speaker and Majority Leader now have the opportunity to chart a different path and reject Hochul’s trickle-down economics with their one-house bills. 

It’s time to FREEZE corporate giveaways. 

New York Corporate Giveaway News:  

  • Check out the Spectrum news coverage of our press conference this week. 
  • Now is the time to freeze and rollback failed corporate subsidieswrite Helen Brosnan of Fight Corporate Monopolies and Pat Garofalo of the American Civil Liberties Project. 
  • Apparently NYS’s subsidy isn’t enough for Micron. The company is now seeking federal subsidies, without which it says it cannot move forward with its planned $100 billion complex in Clay, NY.
  • Giving taxpayer dollars for horse racing is a load of manure, but the industry has a lot of political influence that helps prop it up.
  • Where do horse racing proponents get their data? NY Focus got the scoop straight from the horse’s mouth.
  • New York loves the race to the bottom. The City gives a rundown of NY’s competition with other states for film subsidies. 

Fun Fact: Governor Hochul’s budget includes $7 billion in state cash subsidies to the film/TV industry.

If you got this from a friend, sign up here. Subsidy Sheet is written by Elizabeth Marcello and edited by John Kaehny.