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Here’s a summary thread of just-released research by myself and @JohnMoz at @AccountableEcon.
In short, as part of a COVID-19 bailout Congress should mandate that states end their economic development arms race.
mercatus.org/system/files/f…
In short, as part of a COVID-19 bailout Congress should mandate that states end their economic development arms race.
mercatus.org/system/files/f…
State and cities will likely see a budget shortfall of $950+ billion. House Democrats already passed a $1 trillion relief bill, but Republicans aren’t eager to rescue states from self-imposed fiscal difficulties. A ban on subsidies offers an easy starting compromise.
The idea is not controversial; many state and local policymakers already want to end what amounts to a subsidy arms race. The problem is that no one wants to be seen as unilaterally disarming:
