Sunday, March 27, 2016

need for full disclosure and effect on local community

Valero Energy receives a lot of tax breaks.

Remember: Louisiana has spent the past several years slashing its operating budget. For example, since 2008, the higher education budget has been gutted by $673 million. With a $1.6 billion budget gap projected for the 2015-2016 fiscal year, yet more cuts are expected for higher ed, not to mention other critical budget priorities.
But none of that has curbed the state's business incentive programs.
A large number of Louisiana's incentives are handed out through the Industrial Tax Exemption Program. It waives property taxes for 10 years when a manufacturer makes a capital investment.
State records show, since 2008, Valero Energy has received $315,514,865 in those exemptions, ExxonMobil $263,647,394, and Cleco $180,603,508.

AND Valero Energy receives tax breaks in Houston

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