October 27, 2017
Rep. Robert Pittenger (R-NC) introduced legislation this week to end federal tax-exempt bonds, or so called “abortion bonds,” for abortion providers. The No Abortion Bonds Act is a critical piece of legislation that will close loopholes in the tax code that currently subsidizes abortion facilities through tax-exempt municipal, county, and state bonds.
Abortion providers across the nation have continued to take advantage of this system. For example, in 2012, the New York City Industrial Development Agency issued a tax-free municipal bond of $15 million to renovate Planned Parenthood’s national headquarters. Just three years later, Planned Parenthood sold the facility for $69.6 million which was nearly double the cost of what it was purchased for in 2011.
The Hyde Amendment, since 1976, has protected taxpayers with deeply held pro-life beliefs by prohibiting taxpayer money from funding abortions. This was upheld by the Supreme Court on the basis that abortion is not consistent with other medical procedures since the main purpose is to terminate a life. It is our duty to uphold this principle in all facets of our tax code.
We must preserve the financial integrity of pro-life Americans and protect the lives of the unborn. Eagle Forum is supportive of the No Abortion Bonds Act. Rep. Pittenger’s office is currently working on gaining co-sponsors and grassroots support. Please contact your Representative to ask them to protect life in this way.
Stop All Taxpayer Funding of Abortion
Did you know that abortion clinics across the nation have received tax-free municipal, county, and state bonds to carry out their mission to silence the unborn? Bonds are intended for local infrastructure, like schools and hospitals, but Planned Parenthood has found a loophole to funnel our money directly to their facilities. When these bonds are issued, the federal taxpayer ultimately becomes the financial backer. However, taxpayers are unaware of who may be purchasing these bonds.