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New Rules Will Require States To Be More Transparent About Tax Subsidies
Forbes: Congrats to the Government Accounting Standards Board for pushing state and local governments to be more transparent about their tax subsidies. Last week, the agency approved new disclosure requirements that will require states and localities to publicly disclose how much of a given tax is being abated, what other commitments they make as part of these deals, and what promises recipients make in return for the tax breaks.
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