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Picked up from jwz - Elena's Journal
Picked up from jwz

Congratulations taxpayers! Your senators have ridden to the rescue and approved a piece of legislation that should ungum the credit crunch. You'll now be able to buy that car. In the process, your lawmakers also approved extended tax breaks for the film industry in Puerto Rico, and for the makers of "certain wooden arrows designed for use by children."
I kid you not.

I won't bore you with the details, but if you're interested, the Puerto Rican film industry provision is on page 298 of the massive 400-plus page bill, which the senators approved Wednesday evening to Save Americans.

"The exemption from excise tax for certain wooden arrows designed for use by children," provision occurs shortly after that.

That provision is then followed by another that allows people who received income from the settlement of the Exxon Valdez oil spill litigation to treat it as income from the fishing industry for tax purposes.

The tech industry was also given a reason to lobby for passage of the bill later this week: Attached to the legislation is the renewal of the research and development tax credit, which expired in December.

You probably haven't heard of any of these horse-trading earmark requests. That's because they're buried in an inscrutable 400+ page PDF document that no-one had the time to read during a busy workweek.

This is the kind of under-the-radar activity that the non-profit group the Sunlight Foundation has been trying to stop with its online petition this week to ask lawmakers and others to actually read the bill (at web sites such as Read the Bill First, and Public Markup.)


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druidveil From: druidveil Date: October 2nd, 2008 07:01 pm (UTC) (Link)
Don't forget the wonderful Health Insurance providers must now cover mental health as well as physical. Yay for more insurance mandates to make the consumers cost go up!
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