Subsidy Sheet: Subsidy stories you may have missed this week

This week in NY corporate giveaway news:

• We re-released our memo of support for legislation that would fully end NYS and NYC’s Opportunity Zone tax break. If the state does not end the program, it will soon cost state and city taxpayers – which is all of us – up to $420 million annually, according to the Citizens Budget Commission.
• Governor Hochul’s State of the State called for a replacement of the 421-a tax break, which is currently costing NYC $1.8 billion a year (City and State). We explained in testimony last year how 421-a subsidizes high-end real estate, and called for a more cost-effective approach to affordable housing.
• The Times Union Editorial Board writes about the Saratoga Economic Development Corporation’s efforts to evade transparency despite receiving taxpayer dollars. 
• Also in TU, Chris Churchill details who loses out when we give $1.13 billion to the Buffalo Bills.
• The Comptroller’s office found that the New York Racing Association – which receives massive taxpayer subsidies and oversees NY’s three largest thoroughbred tracks – still isn’t doing a great job managing spending, despite some improvements (Times Union).

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