Michigan subsidizing private businesses with taxpayer money during budget crunch

Michigan is facing a looming budget shortfall estimated between $1 billion and $2 billion for fiscal year 2022, but it’s still giving taxpayer-funded grants to corporations.

The Michigan Economic Development Corporation announced grants to three companies, which total $5.1 million.

John Mozena, president of the Center for Economic Accountability, a nonprofit organization for transparent economic development policy, told The Center Square that an overwhelming majority of the time, subsidies don’t change business decisions.

“If there’s a market, then people will build it,” Mozena said.

Read more…

Please follow and like us: