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The website LivingSocial is known for saving people money, but the company is set to receive it's own deal — courtesy of District taxpayers. The D.C. Council unanimously approved a bill to save the daily-deal company LivingSocial nearly $33 million in taxes. In return, the company will pledge to keep its headquarters in D.C. and make sure that half of its new hires are District residents.
The Gray administration has pushed hard to attract technology companies to D.C., and often points to LivingSocial as a prime example of D.C.'s tech-friendly environment.
But critics of the deal, such as the DC Fiscal Policy Institute, question whether the city is giving too much away. The group says city leaders should have pushed harder for clawbacks , or penalties in the deal, in case Living Social doesn't hold up its end of the bargain.
A second and final vote on the measure is set for next month.
Where's Jimmy Hoffa? Everywhere And Nowhere
FBI agents believe they have a credible lead on the whereabouts of Jimmy Hoffa's body. If they're right, it will solve a longstanding mystery, which will also deflate Hoffa's resonance in popular culture.The Mystery Of the Ridiculously Pricey Bag Of Potatoes
Did a 10-pound bag of potatoes really cost $15 back in 2008? We get to the bottom of some puzzling numbers in the lawsuit alleging America's potato growers have become a spud cartel.House Passes Bill That Would Ban Abortions After 20 Weeks
The legislation is one of the most far-reaching abortion bills in decades and follows the May murder convictions of Philadelphia abortion doctor Kermit Gosnell. The bill, which would ban nearly all abortions starting 20 weeks after fertilization, is unlikely to ever become law.U.S. Automakers Are On A Roll, But Hiring Is Slow And Steady
Profits for the nation's carmakers are on the rise, but after years of doing more with less, higher profits are unlikely to translate into significant numbers of new jobs. There are eight fewer plants and hundreds of thousands fewer workers in the industry than before the Great Recession.Leave a Comment
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