TEA PARTY OF LOUISIANA BLASTS SOLAR TAX CREDITS & OPPOSES CORPORATE REFUNDABLE TAX CREDITS!!!
Calls On Louisiana Legislature To End Refundable Corporate Tax Credits!!!
For Immediate Release April 13, 2015
BATON ROUGE - The Tea Party of Louisiana wants to make its position on ending refundable corporate tax credits "perfectly clear" – END THEM ALL NOW!!!
TPoL is against all forms of corporate refundable tax credits. Period! Refundable tax credits, like Solar Tax Credits, are nothing more than a clever scheme to circumvent our state constitution and enable the payment of public funds to private entities. This is "crony capitalism" at its absolute worst. Even when used to address a legitimate problem, such as the uncompetitive nature of local inventory taxes, such credits are still improper, because the tax credits merely cover up the problem allowing it to continue, thus allowing the legislature to avoid the hard work of fixing the problem. TPoL therefore calls on the Louisiana legislature to do its job and protect the average tax payer by stopping the corporate crony give aways.
A particularly abusive corporate give away is the solar energy tax credit. This tax credit is based on "junk science" and the fantasy that a home owner can "live off the grid". Power must be generated at the time of consumption, and this power must be available 24/7. One day, hundreds of years from now, solar technology may solve many problems and be economically competitive with conventional power generation, and when that day comes no subsidies will be necessary because free market forces will be sufficient to support solar energy. Until that day comes let's stop robbing average people and breaking the state budget so a few well connected fat cats can keep getting their unreasonable corporate give aways.
In light of Louisiana's current budget situation, let's end the insane give aways that are called "refundable tax credits" and let's start by killing the solar tax credit, the worst abuser of all.
Bob Reid, spokesman
Board of Directors Member
TEA Party of Louisiana, LLC
Reference enclosure: Please refer to a few facts we have attached to this release about the solar tax credit complied by Dr Jim Richardson, a nationally recognized economist from LSU.