California should stop picking winners and losers with corporate tax credits

California lawmakers should heed the advice of the nonpartisan Legislative Analyst’s Office and allow the failed California Competes tax credit program to lapse.

Since 2013, California has doled out hundreds of million of dollars in tax credits to select companies in a bid to make the state more economically competitive. From the start of the program through the end of the 2017-18 fiscal year, it is estimated that $780 million in tax credits will have been provided to select businesses.

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