By Doug Porter
Labor unions and their supporters rallied in Sacramento yesterday surrounded by symbolic containers of gravy in support of Senate Bill 434, legislation introduced by Sen. Jerry Hill (D – San Mateo) that would bring about reforms in the Enterprise Zone tax (EZ) credit system in California.
I’m not so sure that reform is even a good idea, given just how outrageously this law has been used by large corporations. California taxpayers gave up $700 million in tax credits last year that were intended to create small business jobs in economically distressed areas.
Who are these businesses? Glad you asked, because much of that information is not available to the public. We do know that Walmart, Hyatt, Wells Fargo and the Déjà Vu Showgirls Club are among those enjoying this taxpayer largess.
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