Roby Brock is Twittering from the Little Rock Regional Chamber of Commerce’s annual meeting. Financier Warren Stephens is the speaker. Tweet:
In response to question, Stephens also said he’s not going to give away his family wealth like Buffett and Gates. “We ain’t doin’ that.”
Roby also said Stephens has mentioned a tax deduction for economic development purposes.
And more detail here from Talk Business: It explains that Stephens is floating the idea of a tax deduction for money given to chambers of commerce for economic development. It would be an enormous taxpayer subsidy for private chambers, which, as you’ve seen, sometimes have strikingly different views on public policy and treatment of workers than many taxpayers do. I hate to say anything good about it, but perhaps it could be accompanied by a provision making clearly illegal (I think they’re unconstitutional already) direct public subsidies of private corporations like the chamber. That would end the worst outrage, but since the chamber’s stated top priority is taxpayer support of their economic development efforts, I don’t think they’d allow it.
Stephens also continued his push for consolidation of county services.