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Full-Text Articles in Law
Social Impact Bonds And The Private Benefit Doctrine: Will Participation Jeopardize A Nonprofit’S Tax-Exempt Status?, Peter G. Dagher Jr.
Social Impact Bonds And The Private Benefit Doctrine: Will Participation Jeopardize A Nonprofit’S Tax-Exempt Status?, Peter G. Dagher Jr.
Fordham Law Review
In August 2012, the first social impact bond in the United States was implemented, introducing a revolutionary framework that aligns the incentives of the participants and provides nonprofits with a steady source of long term funding to scale up social projects. In the prevailing social impact bond structure, private investors essentially place a bet with a government agency that the selected nonprofits will accomplish measureable goals through a comprehensive project designed to reduce public costs. If the program fails to reach these goals, the investors lose the bet and their entire financial commitment to the social impact bond. If the …
Making Impossible Tax Reform Possible, Susannah Camic Tahk
Making Impossible Tax Reform Possible, Susannah Camic Tahk
Fordham Law Review
The United States has long struggled to reform its federal income tax code. Despite enthusiastic and widespread bipartisan support for tax reform laws that would eliminate special–interest loopholes, the legislative process has been paralyzed when it comes to passing these laws. This Article proposes a solution to this seemingly intractable federal tax lawmaking paralysis. This paralysis arises because tax reform spreads its benefits among broad groups while concentrating its costs on narrow ones. Political science theory accurately predicts that laws with this cost–benefit allocation will fail. However, federal lawmakers can overcome tax lawmaking paralysis by distributing tax reform’s costs and …