The true beneficiaries of subsidies are often hidden under layers of holding companies, shell firms and complex ownership agreements. But Good Jobs First did the tedious work of connecting the subsidies to the parent firms.
In the process, the group discovered that a whopping $110 billion — or 75 percent of cumulative disclosed subsidy dollars — are going to these 965 large companies.
Fortune 500 firms alone receive more than 16,000 subsidies at a total cost of $63 billion. Additionally, eight out of the top 20 firms receiving U.S. taxpayer subsidies are not even U.S. companies, meaning American taxpayers are being forced to directly subsidize foreign firms.