Big business still getting tax breaks

 

By Matthew Sweeney and David Freedlander

Tax breaks to corporations and wealthy landowners have ballooned under the Bloomberg administration, despite the mayor's long-standing vow to curtail the practice.

The benefits of the Industrial Commercial Incentive Program (ICIP), considered one of the city's biggest giveaways, has long been debated, with Michael Bloomberg among the most vocal opponents of business tax incentives during his mayoral campaign.

"I don't like the idea of bribing somebody to stay put," he told the Associated Press in the summer of 2001.

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