Louisiana’s Democratic Governor, John Bel Edwards, is sending $4.3 million from tax payers to a Chinese chemical company that is partially owned by the Chinese Community Party.
The Washington Free Beacon reported:
Edwards announced Monday that Wanhua Chemical had agreed to invest $1.1 billion to build a plant in Louisiana in exchange for the grant and a series of tax breaks, including an exemption from property taxes on the plant for 10 years.
The company also will benefit from the state’s Quality Jobs Rebate program, which will grant a 6 percent cash rebate for up to 80 percent of the company’s payroll for new jobs over the next decade. Wanhua Chemical’s entire payroll will be eligible for the rebate beginning in 2018.
Edwards touted the agreement as “a testament to the strength of Louisiana’s business climate and unmatched transportation logistics” that will bring 170 high-paying jobs to the state.
The deal also will send Louisiana tax dollars to the Chinese government and members of the Chinese Communist Party, which own a sizable percentage of the chemical company. Wanhua Industry Group, a holding company that owns almost a 48 percent stake in Wanhua Chemical, is itself almost 40 percent owned by a Chinese government entity, the Yantai State-owned Assets Supervision and Administration Commission (SASAC).
Can you imagine the outrage if a Republican did this?
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