Wednesday, May 21, 2008

Tax watchdogs criticize The Nature Conservancy deal

Grassley Watch blog criticises the inclusion of $250 million taxpayer funds that goes to The Nature Conservancy under the much-criticized recent farm bill. The "tax refund" to the tax-exempt organization amounts to nothing more than a subsidy.

Citizens Against Government Waste, another consumer watchdog, is also criticizing the federal grant that subsidizes The Nature Conservancy for the purchase of a tract of land known as Plum Creek. See The author refers to The Nature Conservancy as a "gazillionaire environmental group".

The Republican Study Committee says:
"The Plum Creek Timber Company is attempting to sell the land to the “Nature Conservancy” – which the Washington Post exposed as the “world’s richest environmental group, amassing $3 billion in assets.” The earmark would allow the Nature Conservancy to claim a $250 million “tax refund,” providing incentive for the group to purchase the land from Plum Creek. The tax refund would be provided even though the Nature Conservancy is a non-profit group that does not pay taxes".

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