Friend,
Private prison corporations ― including those housing children and families in inhumane conditions at our southern border ― are making billions of dollars, virtually tax free. They’re profiteering from this administration’s cruel, racist policies, and paying $0 in federal corporate income tax.
Now, Senator Ron Wyden (R-OR) has introduced a new bill (S. 1827) that would close the loophole that’s being abused by some private prisons. The Ending Tax Breaks for Private Prisons Act would change the tax code to ensure that “prison facilities” are not exempt from paying their fair share of taxes. [1]
Right now, this critical bill only exists in the U.S. Senate. Let’s work together to get this bill introduced and passed in the House of Representatives!
Donate to Americans for Tax Fairness Action Fund today to work with our leaders in Congress to advance this critical legislation and end the tax-free profiteering of the private prison industry.
Each day, we learn more about the abuses of the Trump administration and the corporations that are making billions of dollars in profits off of putting children in cages.
Prisons profiting from this mistreatment are taking advantage of a loophole known as Real Estate Investment Trusts or REITs. As a REIT, most of their profits from property-related operations are tax free if they are distributed to shareholders as dividends.
Two types of businesses are specifically excluded from qualifying as REITs: lodging facilities and health care facilities. Senator Wyden’s bill changes that to add “private prisons” to the list of businesses that don’t qualify for these obscene tax breaks.
Chip in $5 or more today to get the Ending Tax Breaks for Private Prisons Act introduced and passed in the House of Representatives!
We must fight back against the Trump administration’s cruel policies. And one critical way to do so is to make those profiting off of his racist policies actually pay their fair share in taxes.
Thank you for all that you do to hold the corporate bullies and this administration accountable.
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] "It's a Great Time to Be a Prison Landlord, Thanks to the IRS," Bloomberg, August 9, 2019
