Bipartisan support among candidates for corporate welfare

Published September 24, 2015 6:50pm ET



[caption id=”attachment_148925″ align=”aligncenter” width=”1024″](AP Photo/Mark J. Terrill)

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When it comes to corporate welfare, Republican and Democratic presidential candidates find the spirit of bipartisanship.

Examples are rife for candidates with executive experience as Greg LeRoy, executive director of Good Jobs First, details for the Huffington Post.

Chris Christie, for example, has approved $6.5 billion in tax subsidies since 2010, compared to $1.2 billion in subsidies for the last decade before Christie was elected, according to New Jersey Policy Perspective.

John Kasich’s tenure as Ohio governor, where he privatized JobsOhio to spur more business creation and retainment in the state, has overseen some deals that top $100 million for private businesses.

Jeb Bush, chasing biotechnology firms, pushed awarded subsidies above $1 billion.

Hillary Clinton is no stranger to corporate welfare either, strongly defending the Export-Import Bank to guarantee loans for American corporations doing business abroad. It’s a strange institution for Clinton to defend, as 81 percent of its funding in 2013 directly subsidized big businesses.

It’s unlikely for any of the candidates to make a stand against corporate welfare — awarding subsidies to businesses is common to state and federal governments.

Michigan, for example, favors automobile manufacturers, whereas Washington state sends a lot of subsidies to Boeing.

Politicians love to grant subsidies because it’s something tangible to point to that shows their effect on jobs. A conservative who talks about economic competition and a liberal who says they defend the poor and middle class alike embrace subsidies.

Whenever a politician talks about job creation and growth, keep an eye on their support for government favoritism. Job creation is nice, but government funding to private companies isn’t a foundation for a robust economy.