WASHINGTON, D.C. – Congressman Jason Smith introduced legislation that prohibits the use of federal tax-exempt bonds to finance the construction of abortion clinics.
“For over 40 years, federal funds have been barred from going to organizations that support abortion services. Yet, there is a loophole in the tax code that allows abortion clinics to be built using subsidized tax-free bonds. Today, I’m proud to sponsor the No Abortion Bonds Act which closes the loophole and protects hardworking Missourians tax dollars and values.”
The No Abortion Bonds Act will remove the tax-exempt status of any bond that goes to an abortion provider or abortion clinic. Federal tax-exempt bonds cost the federal government billions in lost revenue, meaning they are subsidized by taxpayers.
“Abortion businesses will stop at nothing to get as much taxpayer funding as possible. They have even been caught receiving tax subsidies from municipal bonds to build new abortion facilities. We are grateful for Rep. Jason Smith’s innovative approach to ensure there are no loopholes remaining in the tax code that subsidize the horrific practice of abortion.” - Travis Weber, Vice President for Policy and Government Affairs, Family Research Council
“March for Life Action applauds Rep. Jason Smith for his work to protect the unborn. His ‘No Abortion Bonds Act’ helps to protect all taxpayers from having to further subsidize the billion-dollar abortion industry by underwriting the very buildings where abortions take place. In most polls, including the recent Marist polling on abortion, taxpayers overwhelmingly oppose the taxpayer funding of abortion. Thank you, Rep. Smith, for protecting taxpayers as well as the most vulnerable among us, the unborn” - Tom McClusky, President, March for Life Action
The 1976 Hyde Amendment prohibits the use of taxpayer funds for abortion or abortion-related services, but millions of dollars in tax-free municipal bonds have been issued to abortion clinics and even renovate office buildings, in some cases.
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