Debate still ongoing on Iowa's $700 million business subsidy measure
Free market competition? Bah! Welcome to the new welfare state.
Centrist Democrats and Republicans are trying to bring opposing sides together to craft a program which offers hundreds of millions in outright grants and tax subsidies to business interests in the state. It is projected to provide $700 million in grants and tax breaks to businesses over the next 10 years.
The program is called "The Iowa Values Fund", which suggests that Iowans value ever expanding corporate welfare. It would be interesting to see how many in the state favor that.
The measure is opposed by those further to the right and left end of the political spectrum who feel it is far too generous to businesses, is patently unfair to those businesses who don't receive state grants, and that jobs which are created from the measure will primarily be minimum or low wage positions.