U.S. Senators quietly tucked away billions of earmarks in an already bloated bill. Who knows what the House will do.
Have you seen how many freebies, that have nothing to due with bailing out banks, are included in the package now being considered by the House of Representatives. In case you haven't seen it, let me share a few morsels of fat with you:
- $2 million tax benefit for makers of wooden arrows for children
- a $100 million tax break to benefit auto racetrack owners
- $192 million in rebates on excise taxes for the Puerto Rican and Virgin Islands rum industry
- $148 million in tax relief for U.S. wool fabric producers
- $49 million tax benefit for fishermen and other plaintiffs who sued over the 1989 tanker Exxon Valdez spill.
Even Hollywood got something out of the Senate bill: renewal of a tax incentive worth nearly $48 million a year for film and TV producers who produce their work in the United States.
This is how Washington, DC works folks, aint life grand!