How Public Bonds End Up Financing Wineries, Golf Courses, and More

Tuesday, March 05, 2013

winery (Graham/flickr)

They’re called qualified private activity bonds, and they’re intended to encourage public works through a tax break. In reality, though, they often go to subsidize private projects — everything from a winery in North Carolina to a golf resort in Puerto Rico to the Barclays Center in Brooklyn and the offices of Goldman Sachs in New York. 

In 10 years more than $65 billion dollars of qualified private activity bonds have gone to corporations, according to a new analysis of data by The New York Times. Louise Story, investigative reporter for The New York Times, explains how this loophole gets used.


Louise Story

Produced by:

Mythili Rao

Comments [1]

Larry Fisher from Brooklyn, N.Y.

Lawyers and Politicians are trained to jump through loopholes. This segment is a great example of the three ring circus. What acrobatics!

Mar. 05 2013 01:35 PM

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