Walmart is the beneficiary of billions of dollars per year in federal subsidies, according to a new report [PDF] from the non-partisan, progressive group Americans for Tax Fairness.
The report estimates that Walmart and the Walton family—which co-founded the company and still owns a majority share—collectively profit from nearly $7.8 billion per year in federal subsidies and tax breaks.
“This report shows that our current system is anything but fair – rather it provides special treatment to America’s biggest corporations and richest families leaving individual taxpayers and small businesses to pick up the tab,” the report concluded.
The $7.8 billion includes an estimated $6.2 billion in public assistance for low-wage Walmart employees, including programs like food stamps, subsidized housing, and Medicaid. It also includes an estimated $70 million per year in “economic development subsidies” from state and legal governments eager to host Walmart in their cities.