Bailout my ass! Just another chance for Congressional bugetary pork/abuse for all of us taxpaying suckers.
* UPDATE * Bend over and open your wallets Mr & Ms Taxpayer. The vote just passed 263-171
Congress just couldn’t resist. After all of their grandstanding about helping out the common man, and fiscal responsibility, the SOBs have added over $7.6 billion of pork projects to the economic bailout package. Yes that’s over $7.6 BILLION in non-related pork!
Apparently to bail out Wall Street, and irresponsible investors, we need to: build a racetrack, pay Puerto Rico for more rum, pay more for the Exxon Valdez litigation, fund school programs in Idaho, pay Hollywood for movie and TV productions, research wool products, develop America Samoa and support bicycle commuting projects. Are you fraking kidding me?! Over $7.6 BILLION! Those bastards are stealing from you and me and taking advantage of the economic crash to spend even more money we don’t have. I’m so pissed I’m nearly blind………
Anyone who votes for this travesty must be voted out of office for incompetence. Yes, I did write my Represenative today and told him just how I feel about this abuse. The one up side is that he voted against the last one so I encouraged him to tank this one as well. When they dump this insane pork I may reasses the whole crappy deal.
Taxpayers for Common Sense report excerpts:
Creation of a seven-year cost recovery period for construction of a motorsports racetrack: Track owners currently follow a seven-year depreciation schedule and write each year’s depreciation off their taxes. The IRS wanted to increase the depreciation timetable to 15 years, which would mean the track owner’s depreciation would be cut in half. The measure in the keeps the seven-year depreciation schedule for two years and would cost taxpayers $100 million.
A refund of excise taxes to Puerto Rico and the Virgin Islands for rum: A $13.50 per gallon excise tax is placed on rum imported into the United States. The measure extends to December 31, 2009, a refund of $13.25 per gallon tax back to Puerto Rico and the Virgin Islands, which are both U.S. territories. The refund has been in place since the early ’90s. The measure would cost taxpayers $192 million.
Income averaging for amounts received in connection with the Exxon Valdez litigation: The measure would allow the plaintiffs who won damages from Exxon Mobile for the oil spilled by the Exxon Valdez to average the award over three years rather than treating it as income in a single year. The measure was backed by Alaska Rep. Don Young and would cost taxpayers $49 million.
Secure rural schools and community self-determination program: The program replaces revenue rural communities used to enjoy from the sale of federal forest land. The measure is sponsored by lawmakers from Oregon and Idaho. The program would cost taxpayers $3.3 billion.
Deduction of state and local sales taxes: The measure allows citizens who do not pay state income taxes to deduct the amount of sales tax they pay over a year from their federal income tax for two additional years. States that benefit include Texas, Nevada, Florida, Washington and Wyoming. The measure would cost taxpayers $3.3 billion.
Provisions related to film and television productions: In order to keep movie production in the U.S., production companies would be allowed to deduct the cost of producing the films from their taxes. Rep. Diane Watson, D-California, has been one of the program’s biggest supporters. The measure would cost taxpayers $478 million over 10 years.
Extension and modification of duty suspension on wool products, wool research fund and wool duty refunds: The measure helps U.S. worsted wool fabric makers and clothing manufacturers. The bill extends provisions through 2014 or 2015 that were originally sponsored by Reps. Louise Slaughter, D-New York, and Melissa Bean, D-Illinois, in 2007. The measure would cost taxpayers $148 million.
Extension of economic development credit for American Samoa: The measure would extend for two years provisions meant to help economic development in the U.S. territory of American Samoa. The measure would cost taxpayers $33 million.
Transportation fringe benefit to bicycle commuters: The measure would allow employers to provide benefits to employees who commute to work via bicycle, such as help purchasing and maintaining a bicycle. The measure would cost taxpayers $10 million.
