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'SILO' Tax Shelters Draw New Scrutiny

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'SILO' Tax Shelters Draw New Scrutiny

Business

'SILO' Tax Shelters Draw New Scrutiny

'SILO' Tax Shelters Draw New Scrutiny

  • Download
  • <iframe src="https://www.npr.org/player/embed/1781272/1781273" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

Federally sanctioned tax shelters known as "SILOS" allow private corporations to buy municipal facilities and lease them back to cities. The tax breaks drain the federal treasury of more than $30 billion a year. Current policy allows transcations and tax savings in at least a dozen U.S. cities. NPR's John Ydstie reports.