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Abuse of Katrina recovery zone tax breaks

Monday, August 13, 2007

As usual there seems to be no oversight on tax breaks for the rich.

Tuscaloosa, Ala which is 200 miles from the ocean is part of Gulf Opportunity Zone Act of 2005 which is meant to stimulate construction in the storm damaged areas. So rich people are throwing up million dollar condos and receiveing huge tax breaks because of it.

Never mind Tuscaloosa only received heavy rains and a little bit of heavy wind damage.

Here's the whole story.

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