AI Data Centers Near Tax Break With $165 Billion of Phantom Debt
The article discusses the tax breaks offered to data centers operated by major tech companies in Doña Ana County, New Mexico. These data centers have accumulated a staggering $165 billion in "phantom debt" through a loophole in the state's tax laws. This debt is used to justify the tax breaks, even though the actual value of the data centers may be significantly lower. The article highlights the lack of transparency and oversight in these tax incentive deals, which have allowed tech giants to avoid paying their fair share of taxes. It also raises concerns about the impact on local communities, which may not be reaping the promised benefits from these data center investments. The article underscores the need for more rigorous scrutiny of tax break policies and the potential for abuse by large corporations seeking to maximize their profits at the expense of public funds and community development.
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