“If you consider that local and state governments have to operate balanced budgets, if $10 million is being committed to provide tax cuts and tax incentives to a particular business or industry, then that means $10 million is going to have to be cut from overall expenditures, or revenues are going to have to be enhanced in other areas to make up for the difference.”
“If the difference is made up through cuts to public services - like transportation infrastructure, education - then the overall effect on the economy of incentives can end up being negative.”
