Bailout Pork
What changed between the Bailout Bill rejected on 28.Sept and the Bailout Bill accepted on 3.Oct is a whole lot of pork barrel politics. In a very useful side-by-side tracker you can see the exact differences.
- Sec. 503: Exemption from excise tax for wooden arrows designed for use by children. This shameful pork comes from Oregon senators, and is worth $200,000 to Rose City Archery in Myrtle Point, Oregon
- Sec. 317: Seven-year cost recovery period for a car race track
- Sec. 308: Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands
- Sec 502: Incentives for films to be shot in the United States, including those for adults
- Sec. 211: Bicycle commuter benefits that allow employers to pay for employee bike repair
- Sec. 325. Duty suspension on wool products and wool research fund and wool duty refunds
- Sec. 201. Changes in bonus depreciation for biomass ethanol plant property
A Bush Pig (honestly, it is the name of this breed!)
If Americans didn’t know that their political system was as rotten as their financial system they do now. The Bailout Bill only went through after a lot of pork barrel politics added to the taxpayer’s $700bn bill. It’s the shameful and disgusting bailout pork of the troubled asset relief program.
