Tom Foley in The Wall Street Journal

On Budget & Economy: Tax credits are spending; oppose $400M job expansion credits

Tom Foley and John McKinney traded barbs in a lively debate Sunday. McKinney, the state's minority Senate leader, voted for an increase in cigarette taxes to fund tax credits to support the state's film and television industry, and supported increases in taxes on petroleum to pay for new Metro North railcars. "It's called leadership," McKinney said.

"Raising taxes is leadership? That's how you would lead as governor?" Foley said. McKinney supported a bill that allowed United Technologies Corp. to use $400 million in unused tax credits in exchange for guarantees that the company would expand and hire more workers. Foley opposes the deal and says the package increases state spending. "John is using career-politician talk. He is saying tax credits are OK," Foley said. "Tax credits are spending."

"Tom, it's not spending not to tax someone," McKinney said. "Now you are talking like a Democrat."

Source: Wall Street Journal on 2014 Connecticut gubernatorial debate Aug 10, 2014

The above quotations are from Columns and news articles on NY politics in The Wall Street Journal. Click here for other excerpts from Columns and news articles on NY politics in The Wall Street Journal. Click here for other excerpts by Tom Foley. Click here for a profile of Tom Foley.
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