Thursday, July 6, 2017

Bad Bills Part 13: Airplane Industry Tax Shelters

SB 120 extends the time that three aerospace tax credits can be claimed. The three tax credit schemes allow employers to get a 50% tax credit off tuition costs they pay to employees for four years, a $12,500.00 tax credit for wages paid to employees at the rate of 10% for state graduates and 5% for out of state graduates, and a five year long $5000.00 tax credit for employees.
Here is a bill that was chosen for scoring the RINO Index,
& why this bill is bad for the average Oklahoman.

All this for jobs that would have come to Oklahoma anyway to be near Tinker. These tax credits were set to expire next year but this measure extends them till 2026. The net effect is that a few more jobs might trickle in but they don't generate that much revenue because of the tax credits. Just more corporate welfare paid for with campaign donations to the wealthiest and most corrupt politicians.