Those who are still pushing this absolutely-must-have-right-now-or-the-world-will-explode “emergency rescue plan” aren’t all that concerned with sticking to the $700 billion price tag. Is it too much to ask from this Congress that we have a straight up-and-down vote on whether we should bail out private industry? Why yes it is. They just couldn’t resist adding pork to a bill that they believe will eventually pass.
Here are some of the “incentives“:
- Sec. 105. Energy credit for geothermal heat pump systems.
- Sec. 111. Expansion and modification of advanced coal project investment credit.
- Sec. 113. Temporary increase in coal excise tax; funding of Black Lung Disability Trust Fund.
- Sec. 115. Tax credit for carbon dioxide sequestration.
- Sec. 205. Credit for new qualified plug-in electric drive motor vehicles.
- Sec. 405. Increase and extension of Oil Spill Liability Trust Fund tax.
- Sec. 309. Extension of economic development credit for American Samoa.
- Sec. 317. Seven-year cost recovery period for motorsports racing track facility.
- Sec. 501. $8,500 income threshold used to calculate refundable portion of child tax credit.
- Sec. 503 Exemption from excise tax for certain wooden arrows designed for use by children.
Wooden arrows? Cost recovery for a motorsports racing track facility? All hail to our bipartisan overlords. We might very well get stuck with the bill for all this, and this is a very high price to pay for opening the eyes of many Americans to the failure of both parties to get our fiscal house in order.