stu2002
01-02-2013, 01:40 PM
Okay, it’s certainly not called this. Section 328 of the bill extends tax-exempt financing for the “Liberty Zone,” the area around the former World Trade Center, for another year. As Matt Stoller points out, this tax provision was supposed to help fund reconstruction after 9/11.
http://ts4.mm.bing.net/th?id=H.4908529979098771&pid=1.7&w=157&h=152&c=7&rs=1
Yet a recent Bloomberg investigation found the bonds have mostly helped finance new luxury apartments, not to mention the construction of Goldman Sachs’ new headquarters. Developers say the bonds were necessary to revitalize downtown Manhattan, but there’s a fierce debate over how they’ve been used.
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/02/from-nascar-to-rum-the-10-weirdest-parts-of-the-fiscal-cliff-deal/?hpid=z2
http://ts4.mm.bing.net/th?id=H.4908529979098771&pid=1.7&w=157&h=152&c=7&rs=1
Yet a recent Bloomberg investigation found the bonds have mostly helped finance new luxury apartments, not to mention the construction of Goldman Sachs’ new headquarters. Developers say the bonds were necessary to revitalize downtown Manhattan, but there’s a fierce debate over how they’ve been used.
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/02/from-nascar-to-rum-the-10-weirdest-parts-of-the-fiscal-cliff-deal/?hpid=z2