WWE Republican Senate Candidate Linda McMahon Took $37 Million In Goverment Handouts
Republican senate candidate amd professional wrestling magnate Linda McMahon (CT) rails against “wasteful” and “out of control” government spending and has called for “an end to corporate welfare.”
But that disn;t stop McMahon and her husband Vince who are worth roughly about $500 million dollars from accepting government subsidies for her company, World Wrestling Entertainment, to the tune of 37 million dollars even when the company was laying off workers.
The CT Post reports:
The Stamford-based WWE empire received about $37 million in state tax credits for staging and recording its wrestling spectacles dating back to July of 2009, state officials reported Friday.
The state Department of Economic and Community Development (DECD), in response to a request by Hearst Connecticut Newspapers, indicated that the WWE has received 20 separate tax credits totaling $36.7 million.
Three of the 20 credits, awarded as part of state legislation aimed at fostering film, TV and digital production in the state, totaled more than $5 million each in 2010, 2011 and 2012, according to a summary released under the state’s Freedom of Information Act.
Jim Watson, spokesman for the DECD, said Friday that the credits were granted, without strings, based on how much money the WWE had spent in Connecticut on producing its events.
“There are no job creation or retention requirements for them to earn the credits,” Watson said. “The credits are awarded based on qualified expenditures made in the state.”
In 2009, WWE collected $9 million in subsidies after announcing plans to lay off 60 workers.
Just further proof that the Republican Linda McMahon is as phoney as the “sport” that she made millions off of.