My FOX Colorado
October 2, 2008
Pass it. Back it. Believe in it, they say. Just don’t read the fine print of the 451 page, $700 billion bailout plan because, well, things get a little bit wooly.
Like Section 325 which provides essential tax breaks for the “wool research fund.” Seriously.
Section 503 gives tax breaks for the manufacture of wooden arrows used in toys for children.
And Section 309, a tax credit for economic development, in America. Actually, American Samoa. Metro State Political Science professor Norm Provizer says putting in the goodies simply gets votes.
“As soon as they started discussing sweetening the bill to make it more attractive…in American politics the sweetener is often money,” he said.
- A d v e r t i s e m e n t
In Section 316: a tax break for railroad track maintenance.
And Section 317, a tax break for race tracks.
This was clearly not the bail-out bill most folks expected.
“I think it’s wrong, it’s wrong,” one voter told us. “How does that affect us, where do we profit, what do we expect to gain from it?”
In the end, the pork probably won’t kill the bill. And there are tax credits for renewable energy, and tax relief that is popular.
Just makes you wonder about the other wolf-ish provisions, in sheep’s clothing.
Colorado Sen. Ken Salazar said he wished the un-related provisions would come out of the bill. But said the renewable energy tax credits were important. Sen. Wayne Allard voted against the bill because it cost too much.
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