Dec 10
200812100724 Bad Idea: Auto Bailout 10 Dec 2008

Artists rendering of bailout bill

The auto bailout bill bails out transit SILO shelters too:

abusive leasing transactions called SILOs, where transit agencies have sold public transportation assets like rail lines, only to lease them back from purchasers, with the result of providing tax depreciation deductions to the purchasers

I’m all in favor of a good tax dodge. But this is an example of how Congress can’t be trusted.

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