More than years after ConAgra blackmailed our state into approving a reduction in taxes for the wealthy, an elimination of the tax on some capital gains on stocks and other corporate tax credits, our Legislature is again being lobbied by business interests to get more corporate welfare. This comes at a time when it looks like we will all be paying more sales tax to reduce property taxes.
Well, what did we get from ConAgra after approval of LB775 in 1987? Can anyone tell us how many jobs were created, how much of our money they took, or what economic benefit it was to Nebraska? Nope! Confidentiality for them was guaranteed as part of the legislation.
Maybe we should go to their headquarters and ask them. Unfortunately, we would have to go to Chicago, where they moved their headquarters along with 1,000 jobs.
We do know this: We are still obligated to pay another $454 million under the Nebraska Advantage Act, the successor to LB775, which would bring the total cost to more than $1 billion ("Biz incentives advance," May 3).
Just say no to LB720 and the money interests that are trying again to get us to pay to subsidize their businesses.
Steve Rische, Crete