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Issue Position: Corporate Welfare

Issue Position

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ENDING CORPORATE WELFARE
As a small business owner, Matt understands that the subsidies the federal government regularly provides to large corporations prevents new competitors from entering markets. He also understands that it helps consolidate the economic gains in the hands of a few winners selected by the government. That is not how economics is supposed to work in America, nor any functional democratic republic. Matt will work to end tax subsidies and additional unfair benefits handed out to these crony capitalists in Washington. Matt wants to end subsidies to companies like General Electric and Alcoa who routinely demand additional concessions from the government to continue employing American workers, then often shut down factories after they have been paid for their extortionist tactics and ship those jobs overseas anyway.

These corporate subsidies reward already profitable industries like oil and natural gas, which suppresses technological development in areas like clean energy production, and other emerging industries likely to create good middle class jobs for New Yorkers. What is more, these corporate subsidies reward companies like Walmart who fail to pay their workers a living wage. These companies earn billions of dollars in profits, and receive even more from the government in the form of subsidies, yet pay their workers so poorly they often qualify for SNAP -food stamps, or HUD housing subsidies, and Medicaid. Providing subsidies to companies that already have an unfair advantage over competitors and treat their workers poorly is not the best use of federal money. As a member of Congress, Matt would work to end these wasteful corporate subsidies.


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