Righteous Tax Credit

摘要

Grammy-award-winning folk rocker ani DiFranco laments in one song that" ... the're building condos downriver from where the plant had been" and in another lambastes capitalism as "the devil's wet dream." But that isn't stopping her from doing a deal with HSBC bank to tap into millions in federal New Markets Tax Credits. She's using the money to turn a neglected Gothic Revival church (circa 1876) in her home city of Buffalo, N.Y. into a new headquarters for her Righteous Babe record label. The credits are supposed to create jobs in economically distressed areas. But Righteous Babe project manager Jessie E. Schnell admits the label isn't planning to add to its 12-person local staff, a live concert space in the project's plans, however, should mean work for part-time concessionaires in the gentrifying area. "It's kind of cruel," says Schnell. "We've been able to use these tax loopholes created by big government."