Time reported that Rep. Alexandria Ocasio-Cortez declared victory when Amazon announced Thursday that it would not build a second headquarters (known as HQ2) in Queens, New York. AOC was against the tax breaks being offered to the company to locate in the city. Governor Cuomo stated the HQ2 would have brought “at least 25,000-40,000 good paying jobs for our state and nearly $30 billion dollars in new revenue to fund transit improvements, new housing, schools and countless other quality-of-life improvements.” HQ2 would have been in AOC’s district. Now these jobs can go elsewhere.
AOC’s reasoning is that Amazon pays little in Federal Taxes. But, Amazon, has had the habit of investing everything back into growth. Given tax laws for years allowed expensing of capital items, rather then using multi-year deprecation, this will occur. She won’t say that it is congress at fault here. Which she is a member of.