The Arizona Free Enterprise Club urges that the House of Representatives vote NO on SB 1484, tax credit legislation that will provide millions in special tax breaks to corporations that generate renewable energy for manufacturing. In fact, it has been an open secret at the legislature that only 2 companies (at most) will benefit from the tax credits being provided in SB 1484. This is crony capitalist special legislation and a raw deal for taxpayers.
If the tax policy wasn’t bad enough, the purpose clause provided in the bill should give legislators pause as well. In the actual text of SB 1484, it declares that the credits are needed to incentivize companies in Arizona to “reduce their carbon footprint.” Tax credits to fight global warming?? There couldn’t be a more wasteful use of taxpayer money than to provide special tax breaks to two companies that will have virtually no impact on carbon emissions. We should not be picking winners and losers, especially when it is for a questionable environmental agenda.
The Club urges a NO vote on SB 1484.