Close Carried Interest Loophole to Aid Syrian Refugees

A prime reason for the wave of refugees washing into Europe is the deterioration of the conditions Syrians face in Lebanon, Jordan and Turkey, a worsening largely caused by sharp falls in international funding, the New York Times reports. [1] The UN Syria Regional Refugee and Resilience Plan had by the end of August received just 37% of the $4.5 billion appeal for needed funds this year.

It would cost less than a billion dollars to close the U.S. share of this shortfall, and increased U.S. contributions would encourage other countries to step up. A billion dollars might seem like a lot of money, but compared to U.S. military spending and tax breaks for the super-rich, it’s small change.

The Treasury Department says closing the “carried interest loophole” that allows super-rich hedge fund managers to pay a lower tax rate would alone save $18 billion over 10 years [2]; one expert says the number is far higher [3]. In June, the Washington Post reported that the CIA was spending $1 billion this year in military aid to Syrian rebels that both Democrats and Republicans said wasn’t working [4]. That’s different from the Pentagon’s program to aid Syrian rebels, which Democrats and Republicans said this week is also not working. Congress appropriated half a billion for the Pentagon program in 2015 and the Pentagon is asking for even more money next year. [5]

Urge the Administration and Congress to fully fund UN efforts to aid Syrian refugees in the Middle East by signing our petition.

References:
1. http://www.nytimes.com/2015/09/20/world/un-funding-shortfalls-and-cuts-in-refugee-aid-fuel-exodus-to-europe.html
2. http://www.nytimes.com/2015/09/18/business/with-trump-as-foe-carried-interest-tax-loophole-is-vulnerable.html
3. http://www.nytimes.com/2015/06/06/business/dealbook/how-a-carried-interest-tax-could-raise-180-billion.html
4. https://www.washingtonpost.com/world/national-security/lawmakers-move-to-curb-1-billion-cia-program-to-train-syrian-rebels/2015/06/12/b0f45a9e-1114-11e5-adec-e82f8395c032_story.html
5. http://thehill.com/policy/defense/253816-general-only-four-of-five-us-trained-rebels-in-syria