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Published On: Fri, Feb 15th, 2019

Alexandria Ocasio-Cortez, Elizabeth Warren celebrate Amazon’s exit from New York: the loss of $27 billion in tax revenue, thousands of jobs

Amazon has pulled out of bringing half of its second North American headquarters to New York City after Alexandria Ocasio-Cortez and Massachusetts Sen. Elizabeth Warren attacked the Internet giant and declared victory.

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The squabble was over $3 billion in tax incentives for Amazon. New York will lose the 25,000 jobs that the company had promised to create in New York City for HQ2 as well as approximately $27 billion in revenue in exchange for the roughly $3 billion incentive package.

Yes, 10% off the overall taxes for Amazon.

Let’s be clear: there was NO $3 billion in cash going to Amazon or a $3 billion in savings for New York, this is a $27 billion LOSS for New York’s bottom line in tax revenue.

Additionally, Amazon was planning to invest in infrastructure, planning to utilize the city’s Payment In Lieu of Taxes (PILOT) program, estimated by former Deputy Mayor Alicia Glen at $600 to $650 million over four decades. Amazon would have also built a 600-seat school and 3.5 acres of public, open space along the waterfront at Anable Basin.

“I think it’s incredible. I mean, it shows that everyday Americans still have the power to organize and fight for their communities and they can have more say in this country than the richest man in the world,” Ocasio-Cortez said on Capitol Hill, referring to Amazon founder and CEO Jeff Bezos.

“If we were willing to give away away $3 billion for this deal, we could invest $3 billion in our district ourselves if we want to. We could hire more teachers, we can fix our subways, we can put a lot of people to work for that money if we wanted to,” Ocasio-Cortez told reporters. “There was no guarantee those jobs for the New Yorkers that were here. We were looking at a deal that was not primarily putting the community first.”

The young House rep seems to think $3 billion in cash was in play, but it IS and WAS NOT.

“A small group politicians put their own narrow political interests above their community … the state’s economic future and the best interests of the people of this state,” Andrew Cuomo said in a statement, promising to hold accountable the New York State Senate, which is controlled by his fellow Democrats, some of whom had turned on the deal.

Mayor Bill DeBlasio, the other top New York Democrat who will be most associated with the Amazon mess, piled on the company: “You have to be tough to make it in New York City. We gave Amazon the opportunity to be a good neighbor and do business in the greatest city in the world. Instead of working with the community, Amazon threw away that opportunity.”

“Amazon’s decision to withdraw its New York City HQ2 is a setback for the city that illustrates politics and anti-business sentiment can derail economic development despite competitive strengths,” said Nick Samuels, VP at Moody’s Investors Service.

AOC turned to Twitter: “Anything is possible: today was the day a group of dedicated, everyday New Yorkers & their neighbors defeated Amazon’s corporate greed, its worker exploitation, and the power of the richest man in the world.”

Warren called the tax incentives “bribes” on Twitter:

“How long will we allow giant corporations to hold our democracy hostage?”

Elizabeth Warren is speaking against the recent legislation affecting social secuirty and disabilitiy accounts
photo donkeyhotey donkeyhotey.wordpress.com

About the Author

- Writer and Co-Founder of The Global Dispatch, Brandon has been covering news, offering commentary for years, beginning professionally in 2003 on Crazed Fanboy before expanding into other blogs and sites. Appearing on several radio shows, Brandon has hosted Dispatch Radio, written his first novel (The Rise of the Templar) and completed the three years Global University program in Ministerial Studies to be a pastor. To Contact Brandon email [email protected] ATTN: BRANDON

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    […] new Democrat darling, Alexandria Ocasio-Cortez, is under attack in her home state as Amazon’s planned headquarters was quelled and a new billboard Times Square attacks AOC for the […]

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