From Americans for Tax Fairness (https://americansfortaxfairness.org/):
Right now, private prison corporations―including those running despicable detention centers on our southern border―are abusing more than the children and families being detained by the administration. They’re also abusing a loophole in our tax law that allows them to avoid paying any federal corporate income tax. [1]
And, thanks to the 2017 tax scam they might even quality for a 20% tax deduction.
Corporations that make billions off of putting children in cages shouldn’t get tax breaks!
Now, Senator Ron Wyden (D-OR) has introduced the Ending Tax Breaks for Private Prisons Act (S 1827). This bill would change the tax code to ensure that “prison facilities” are not exempt from paying their fair share of taxes.
Join Americans for Tax Fairness Action Fund and our partners and demand Congress put an end to private prison tax breaks. Sign the petition today at https://actionnetwork.org/petitions/sign-the-petition-detaining-humans-in-prison-camps-for-profit-is-wrong-end-tax-breaks-for-private-prison-companies.
While the administration continues to lock up thousands and thousands of migrants and children in camps, private prison companies continue to profit off of nearly unpaid labor and inhumane detainments.
The prisons profiting from this mistreatment are taking advantage of a loophole known as Real Estate Investment Trusts or REITs. Two types of businesses are specifically excluded from qualifying as REITs: lodging facilities and health care facilities. We must change that to add “private prisons” to the list of businesses that don’t qualify for these obscene tax breaks.
Each day, we learn more about the abuses of the administration and the corporations that are making billions of dollars in profits off of putting children in cages. We must fight back.
[1] “It’s a Great Time to Be a Prison Landlord, Thanks to the IRS,” Bloomberg, August 9, 2018
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