Author Topic: Bailout plan full of earmarks/pork barrell spending  (Read 421 times)

Bindare_Dundat

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Bailout plan full of earmarks/pork barrell spending
« on: October 02, 2008, 09:47:24 PM »
What happened to John McCain and his firm stance against earmarks? He still voted yes for the bailout plan.  ::) Bribes for a vote, great.

While crafting a bill aimed at rescuing the U.S. economy this week, lawmakers couldn't help themselves from adding billions of dollars in tax breaks that have little to do with restoring confidence in financial markets.

Senators quietly tucked a number of earmarks into the tax package of the 451-page bill passed Wednesday night and expected to be put to a vote in the House on Friday: a $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; and a $49 million tax benefit for fishermen and other plaintiffs who sued Exxon over the 1989 tanker Valdez spill.

Many of the tax breaks were put in place years ago and were set to expire. But their inclusion is complicating efforts in the House to pass a rescue plan that failed Monday. Several House Republicans today railed against the pork-packed rescue bill..

"One thing we didn't appreciate in the Senate's action was that they decided that this bill should become Christmas in October," said Steven LaTourette, R-Ohio. "We just don't think (the earmarks) should be in this piece of legislation."

The tax earmarks were scarcely noticed during the Senate debate over a bill that featured a $700 billion bailout package and a $112 billion tax package, including the renewal of popular tax breaks for businesses and renewable energy projects and a one-year effort to shield at least 20 million Americans from paying the Alternative Minimum Tax.

The bill was easily approved 74-25, winning support even from lawmakers who have crusaded against earmarks - including Arizona Sen. John McCain, who warned last week that he might oppose a bailout bill if it included more pork-barrel spending

tonymctones

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Re: Bailout plan full of earmarks/pork barrell spending
« Reply #1 on: October 02, 2008, 09:50:14 PM »
somebody already posted on this but like i said in that thread if you are suprised about this then youve had your head in the ground for a long time b/c this is the status quo. This is why i believe the plan should be privately funded although thats not very feasable.

Bindare_Dundat

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Re: Bailout plan full of earmarks/pork barrell spending
« Reply #2 on: October 02, 2008, 09:51:21 PM »
somebody already posted on this but like i said in that thread if you are suprised about this then youve had your head in the ground for a long time b/c this is the status quo. This is why i believe the plan should be privately funded although thats not very feasable.

Sorry about that. Obviously missed the thread.

tonymctones

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Re: Bailout plan full of earmarks/pork barrell spending
« Reply #3 on: October 02, 2008, 09:54:35 PM »
Sorry about that. Obviously missed the thread.
no prob i honestly dont care, just letting you know, it was earlier today probably got buried under avalanche palin started by 240