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Friday, January 04, 2013

Goldman Gains In Fiscal Cliff Act

When Goldman Sachs, the potent financial services firm, opened its new 43-story, $2.1 billion steel-and-glass headquarters on a former parking lot at 200 West Street in October 2009, it was an area sorely in need of more shops and restaurants. So Goldman, helped along by $1.65 billion worth of tax-exempt Liberty Bonds and an additional $115 million in tax sweeteners, simply created its own. From The Toilet Paper Of Record Published: June 29, 2012
From: One Hundred Twelfth Congress of the United States of America AT THE SECOND SESSION  Begun and held at the City of Washington on Tuesday, the third day of January, two thousand and twelve  An Act Entitled the ‘‘American Taxpayer Relief Act of 2012’’.

SEC. 328. EXTENSION OF TAX-EXEMPT FINANCING FOR NEW YORK LIBERTY ZONE. 
(a) IN GENERAL.—Subparagraph (D) of section 1400L(d)(2) is amended by striking ‘‘January 1, 2012’’ and inserting ‘‘January 1, 2014’’. 
(b) EFFECTIVE DATE.—The amendment made by this section shall apply to bonds issued after December 31, 2011. 
 Socking it to the sort of rich for the benefit of the ultra-mega-super-rich. How PROGRESSIVE!

RH

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