EPI Media Advisory: New Book Shows Taxes Don't Improve State Economic Development 3/18/2004
From: Nancy Coleman, Karen Conner or Stephaan Harris, 202-775-8810, all of the Economic Policy Institute News Advisory: There will be a conference call news briefing Monday, March 22 at noon EST, to release "Rethinking Growth Strategies: How State and Local Taxes and Services Affect Economic Development" by economist Robert G. Lynch. Other participants include experts on state-level tax issues for Arizona, New York, Massachusetts, Minnesota, Oregon, and Washington. In the scramble to lure businesses and jobs to their state, policymakers have operated for many years on the assumption that low taxes and business tax incentives make the best bait. A new study -- under embargo until 12:01 a.m. March 23, 2004 by the Economic Policy Institute -- offers strong evidence that such policies are neither the best nor the most cost-effective strategies for attracting businesses and creating jobs. Conversely, raising taxes to support public services can promote economic and jobs growth. "Rethinking Growth Strategies: How State and Local Taxes and Services Affect Economic Development" by economist Robert G. Lynch provides a comprehensive overview of the current research into the factors that influence state economic growth. The result is a powerful refutation of the idea that cutting taxes and shrinking government and services will attract new businesses and create jobs. See full press release: http://www.epinet.org/newsroom/releases/2004/03/040323lynchbook.pdf Join the conference call news briefing with the book's author Robert Lynch on Monday, March 22 at noon EST. To sign up for the call and get the toll-free access number and password, contact the EPI Communications Department at 202-775-8810 or e-mail news@epinet.org by 10 AM EST, Monday, March 22nd. Contact EPI to request a copy of the embargoed book (to be released Tuesday, March 23, 2004 at 12:01 a.m.) Nancy Coleman, Karen Conner, or Stephaan Harris at 202-775-8810 |