Initiative will aim to cut subsidies to retail stores

Tue, Aug 26 2008

On the Nov. 4 ballot, Austin residents will not only face a decision between McCain and Obama, but also whether to prevent the city from subsidizing retail stores.

If approved, a new citizen-led initiative called Stop Domain Subsidies will halt any tax rebates or subsidies provided by the city to retail stores. City officials designed the subsidies to generate more tax revenue by attracting more retail stores. In its last meeting, the city council approved the initiative’s wording for the Nov. 4 ballot.