This story was originally published by ProPublica.
The US Internal Revenue Service (IRS), the Justice Department and Congressional Republicans and Democrats are all trying to put an end to syndicated conservation easements. But with lobbyists like Henry Waxman helping lead the resistance, the efforts have had little effect.
But the industry has fought back with a coterie of lobbyists, including a onetime member of Congress long viewed as a liberal lion, Henry Waxman. The battle shows how even on those rare occasions when both parties agree to take action, well-funded interests can frustrate a solution.
The result: The use of the scheme continues unabated. Along the way it has cost the US Treasury billions in lost taxes, according to the IRS.
