The ABA Tax Section is offering a teleconference and webcast today on Cuno Update from 1:00 – 2:30 p.m. EST:

In the current economic landscape, state governments have become increasingly innovative in their attempts to spur economic development in their states. This has contributed to fierce competition between the states to attract and retain large private projects and the thousands of jobs that come with them. States are increasingly relying on state tax incentive packages as a means of increasing economic development. As a result of the Sixth Circuit’s decision in Cuno v. DaimlerChrysler, holding Ohio’s ITC impermissibly discriminated against interstate commerce, the landscape of economic development through tax incentives may never be the same. This teleconference will address the background, governing federal law, and causes that contributed to the Cuno v. DaimlerChrysler case, which is currently before the Supreme Court. The panel will also discuss the potential for federal corrective legislation, including the advantages, disadvantages, and dangers of Congressional action, as well as the workings and status of the proposed Economic Development Act of 2005.

• Stephanie Anne Lipinski Galland (Moderator) (Thompson Coburn, Washington, D.C.)
• Nicholas P. Giordano (Washington Council, Ernst & Young, Washington, D.C.)
• Philip M. Tatarowicz (Ernst & Young, Washington, D.C.)