sooner n houston
1/30/2009, 07:25 AM
Lets all list all the really "cool" things we hear of that congres is trying to include in this bill that make no sense!
1) National Journal reported this week that the Senate's economic stimulus bill includes a provision that would make Hollywood studios eligible for a special 50% write-off of equipment purchases. According to the report, "the provision is backed by firms like the Walt Disney Co., and the industry trade group the Motion Picture Association of America."
The House version of the stimulus already includes a bonus depreciation that lets businesses immediately write off 50% of their 2009 capital expenditures. But the Senate bill expands the definition of "qualifying property" -- specifically to include "certain motion picture film or videotape." Hollywood moguls like Steven Spielberg, David Geffen and George Lucas were among the biggest backers of President Obama's candidacy, and it looks as though Democrats have found a way to return the favor.
So let's see: Democrats object to cutting the U.S. 35% corporate tax rate -- which is higher than in all of Europe, undermines economic growth and discourages job creation -- for all companies on grounds that it favors the rich and powerful. But Democrats will carve out tax loopholes for businesses they like and that write them campaign checks.
2) $20 million "for the removal of small- to medium-sized fish passage barriers." (Pg. 45 of Senate Appropriations Committee report: "20,000,000 for the removal of small- to medium-sized fish passage barriers)
3) $25 million to rehabilitate off-roading (ATV) trails (Pg. 45 of Senate Appropriations Committee report: "$25,000,000 is for recreation maintenance, especially for rehabilitation of off-road vehicle routes, and $20,000,000 is for trail maintenance and restoration")
4) $34 million to remodel the Department of Commerce HQ (Pg. 15 of Senate Appropriations Committee report: $34,000,000 for the Department of Commerce renovation and modernization")
5) $70 million to "Support Supercomputing Activities" for climate research (Pgs. 14-15 of Senate Appropriations Committee Report: $70,000,000 is directed to specifically support supercomputing activities, especially as they relate to climate research)
6) $150 million for honey bee insurance (Pg. 102 of Senate Appropriations Committee report: "The Secretary shall use up to $ 50,000,000 per year, and $150,000,000 in the case of 2009, from the Trust Fund to provide emergency relief to eligible producers of livestock, honey bees, and farm-raised fish to aid in the reduction of losses due to disease, adverse weather, or other conditions, such as blizzards and wildfires, as determined by the Secretary")
Please feel free to add to this list as you see issues come up.
1) National Journal reported this week that the Senate's economic stimulus bill includes a provision that would make Hollywood studios eligible for a special 50% write-off of equipment purchases. According to the report, "the provision is backed by firms like the Walt Disney Co., and the industry trade group the Motion Picture Association of America."
The House version of the stimulus already includes a bonus depreciation that lets businesses immediately write off 50% of their 2009 capital expenditures. But the Senate bill expands the definition of "qualifying property" -- specifically to include "certain motion picture film or videotape." Hollywood moguls like Steven Spielberg, David Geffen and George Lucas were among the biggest backers of President Obama's candidacy, and it looks as though Democrats have found a way to return the favor.
So let's see: Democrats object to cutting the U.S. 35% corporate tax rate -- which is higher than in all of Europe, undermines economic growth and discourages job creation -- for all companies on grounds that it favors the rich and powerful. But Democrats will carve out tax loopholes for businesses they like and that write them campaign checks.
2) $20 million "for the removal of small- to medium-sized fish passage barriers." (Pg. 45 of Senate Appropriations Committee report: "20,000,000 for the removal of small- to medium-sized fish passage barriers)
3) $25 million to rehabilitate off-roading (ATV) trails (Pg. 45 of Senate Appropriations Committee report: "$25,000,000 is for recreation maintenance, especially for rehabilitation of off-road vehicle routes, and $20,000,000 is for trail maintenance and restoration")
4) $34 million to remodel the Department of Commerce HQ (Pg. 15 of Senate Appropriations Committee report: $34,000,000 for the Department of Commerce renovation and modernization")
5) $70 million to "Support Supercomputing Activities" for climate research (Pgs. 14-15 of Senate Appropriations Committee Report: $70,000,000 is directed to specifically support supercomputing activities, especially as they relate to climate research)
6) $150 million for honey bee insurance (Pg. 102 of Senate Appropriations Committee report: "The Secretary shall use up to $ 50,000,000 per year, and $150,000,000 in the case of 2009, from the Trust Fund to provide emergency relief to eligible producers of livestock, honey bees, and farm-raised fish to aid in the reduction of losses due to disease, adverse weather, or other conditions, such as blizzards and wildfires, as determined by the Secretary")
Please feel free to add to this list as you see issues come up.