ICYMI: Florida Says No to Corporate Welfare
(Orlando, FL) – Florida spending bill HB 1325 failed in the legislature; a political win against cronyism and corporate welfare, as highlighted in the latest blog from The LIBRE Initiative. The bill served as a framework to renew and expand corporate welfare incentive programs for Enterprise Florida a public-private partnership that hands out the taxpayer funds to a few large companies.
A controversial measure has failed in the Florida legislature this session, which would have distributed approximately $250 million in corporate welfare paid for by the taxpayer.
These programs disproportionately benefit large corporations and out-of-state companies instead of Florida small businesses.
These massive, cronyist, corporate beneficiaries have little in common with the typical Hispanic business. In fact, 90 percent of Hispanic businesses are one-person entrepreneurial outfits, a figure markedly higher than the national average.
Over time, these favors to special interests expand and become more entrenched, driving a gap between the rich and the poor and creating a two-tiered society.