Cities are campaigning to be the home of Amazon's new headquarters. But are the tax breaks that cities are offering Amazon worth it?
Stanton Pushing for Donations To Low-Income Schools
Phoenix Mayor Greg Stanton is urging residents to donate money to low-income schools in the city and take a tax credit in the process. He said many of these Title I schools do not get as much money as those in more affluent areas. The money generally pays for after-school programs like art, reading and sports.
"In many districts, they go directly to the parents, and the parents will earmark their tax credit dollars for their child’s school," Stanton said. "In many of our Title I schools, that’s simply not possible. You can’t go to the parents of those students to do the $200 tax credit."
Stanton said some of those schools average $3-4 per student from the tax credit, while more affluent schools can average $100 per student. Arizonans can get a dollar-for-dollar tax credit for extracurricular activities in school. The limit is $200 for an individual and $400 for joint filers.