Date: September 13, 2018
Free & Fair Markets Initiative Responds To Amazon’s CEO Jeff Bezos’ Day 1 Fund
Rejecting taxpayer subsidies for HQ2 should be the first step for the new Day 1 Fund.
Robert B. Engel, chief spokesperson for the Free & Fair Markets Initiative, issued the following statement in regard to Amazon CEO Jeff Bezos’ announcement of his newly-launched Day 1 Fund.
“We commend Mr. Bezos’ desire to help the homeless with the affordable housing crisis plaguing so many cities across America, as well as to provide preschool opportunities in low-income communities. It is this type of leadership that is vital to the future well-being of our communities and all Americans. However, as his company pursues a home for its second headquarters, independent analysis shows that whichever city decides to fork over billions in taxpayer subsidies will see massive rent price surges, much like we have already seen in Seattle, and increase the costs to purchase a home — furthering the affordable housing crisis so many cities face.”
“For the Day 1 Fund to truly meet its admirable ambitions, it should begin by calling for no taxpayer subsidies to be given for HQ2 and a commitment to use this contribution to help citizens in the city that is selected to ensure there is an abundance of affordable housing options for those most in need.”
ABOUT THE FREE & FAIR MARKETS INITIATIVE
The Free & Fair Markets Initiative (FFMI) is a non-profit coalition of businesses, consumer advocacy groups, workers and community activists committed to scrutinizing and highlighting emerging market trends that are stifling competition and innovation, influencing federal and local government spending, putting consumer data in harm’s way and limiting consumer choice. For a list of members, please visit https://freeandfairmarketsinitiative.org/about-us/members/. For more information on the Free & Fair Markets Initiative, please visit https://freeandfairmarketsinitiative.org.