Staving Off Armageddon

In order to get the bailout bill to pass, our peerless and fearless leaders included the following earmarks in the bill:

• Rose City Archery and other companies which make a certain type of arrow will no longer have to pay excise tax on these arrows. Cost to us - $2,000,000.
• The IRS will not be able to make owners of auto tracks depreciate their facilities over a longer period of time than the seven years the tracks want. Cost to us - $100,000,000.
• Makers of rum made in Puerto Rico and the Virgin Islands will continue to enjoy a rebate from import duties until at least 2010. Cost to us - $192,000,000.
• The tax credit for research and experimentation will be extended two years. Cost to us - $19 billion.
• Recipients of the damage award re the Exxon Valdez will be allowed to average their award over three years. Cost to us - $49,000,000.
• The Secure Rural Schools Program is back. This pays communities with Federal Service land that is logged; the program was stopped in 2006. It’s back now. Costs to us - $3.3 billion.
• If you’re a producer of certain tv shows or movies, you don’t have to capitalize costs, you can write them off immediately. Cost to us - $478,000,000.
• If you’re a producer of worsted wool fabrics that use imported fibers and yarns, you don’t have to pay import duties. Cost to us - $148,000,000.
• If you operate in American Samoa, you may be able to take certain tax credits. Cost to us- $33,000,000.

And these guys really want to do the right thing??? It is absolutely disgusting.

Courtesy of Taxpayers for Common Sense.