Posted on 12/15/2010 7:56:28 AM PST by SmithL
Washington - -- The tax compromise expected to pass the Senate today and add $858 billion to the national debt is packed with much more than another year of unemployment benefits and a two-year extension of all the Bush-era tax cuts.
It also contains a special-interest bonanza of spending programs disguised as tax breaks, or "tax earmarks," that range from energy and education tax credits to tax-exempt bonds for areas damaged by Hurricane Katrina in 2005.
California's Democratic Sens. Dianne Feinstein and Barbara Boxer joined an overwhelming 83-15 vote Monday to move forward on the tax bill, the biggest bipartisan victory of the Obama administration so far. A Senate vote on final passage is expected today.
Ethanol subsidies are among the biggest earmarks. Feinstein waged a last-ditch effort Tuesday to reduce them, even as she sought to add tax breaks for wind and solar developers. She and Boxer and a dozen other Senate Democrats and 81 House members demanded the alternative-energy tax breaks in exchange for their votes for the tax bill.
An amendment by Feinstein to cut ethanol subsidies and extend a tax credit for alternative-energy manufacturers, which was part of the 2009 stimulus, failed. The $2.3 billion program has made nine awards to California companies, including Stion and Nanosolar in San Jose.
(Excerpt) Read more at sfgate.com ...
yep. the elections are over for two years. time to get back to ‘work’. have to pick up the pace because the money may be running out
Anyone got a link to the dang bill?
I believe it is another “framework” with the details to be spelled out after the vote. That seems to be the favorite tactic for hiding the truth lately.
I heard it was around 1900 pages.....probably an estimate, and probably NOT EVEN WRiTTEN YET!
CRIMINALS AT WORK DESTROYING THE FINEST COUNTRY GOD PUT ON EARTH!
I am angered beyond civil discourse at Dingy Harry Reid and the “US” Senators who support & vote for this garbage.
I’m not gonna get mad! I’m gonna get even!
Is it 2012 yet?
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