Logo

Foreclosure Resources and Information

01
Oct

Let the pork flow

Copied in whole from Calculated Risk.

The bailout bill has a number of unrelated provisions. This one caught my eye earlier today: SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN.

Bloomberg has the details: Bailout Bull’s-Eye for Kids’ Arrow-Makers’ Tax Break

Senators attached a provision repealing a 39-cent excise tax on wooden arrows designed for children to an historic $700 billion bank rescue that is likely to pass tonight. The provision, originally proposed by Oregon senators Ron Wyden and Gordon Smith, will save manufacturers such as Rose City Archery in Myrtle Point, Oregon, about $200,000 a year.

My understanding is the bailout bill was attached to another bill for procedural reasons, and that that other bill had all the weird provisions (Senators weren’t trying to add them to the bailout bill specifically). Oh well … now you know.

This brings to the forefront how screwed up Washington is:

The “how” doesn’t really matter, I’m really thinking it’s time to vote every incumbent out, over and over again until such a time that representation of constituent interests is more significant than the specialized interests currently driving the political process.

Leave a Reply

© 2009 All Foreclosure Information Privacy Policy | Entries (RSS) and Comments (RSS)