Video: Rep. Gregory Meeks Introduces Legislation To Stop Private Prison Tax Breaks

For years now, private prisons have avoided paying millions in corporate income taxes by converting themselves into “real estate investment trusts” or REITs. Under current IRS rules, these trusts are exempt from federal corporate income tax. The big corporate tax breaks lead to even bigger profits for private prisons across the country.

Representative Gregory Meeks, a senior member of the House Financial Services Committee, has introduced legislation to put an end to the tax breaks. Meeks joined Roland Martin during Friday’s edition of NewsOne Now to discuss his bill.
_

Listen, download and subscribe to the ALL NEW Roland Martin Unfiltered Audio Podcast on iTunes http://ow.ly/Hctl30eeN19

Visit Roland Martin’s NEW digital lifestyle and information website http://AllThat.tv

Hit the thumbs up button and subscribe to the channel to see more content like this. http://bit.ly/2ubQ9NV

Want more Roland Martin? Watch NewsOne Now every weekday morning starting at 7AM ET on TV One.

Follow Roland Martin on the following social media platforms:

Facebook: http://bit.ly/2dgI2GO
Twitter: http://bit.ly/2dgFOra
Instagram: http://bit.ly/2d48Acu
For more info about Roland visit http://www.rolandsmartin.com
Roland Martin Podcast on iTunes: http://apple.co/2iado2r
NewsOne Now Podcast on iTunes: http://apple.co/2abI3f4
NewsOne Now Podcast on Google Play Music: http://bit.ly/2iAhm7t