The Homa Files

Nice recap  in the WSJ today outing the pork that was sausaged into the deficit-adding Fiscal Cliff Bill:

Here’s a sampling:

• Michigan Democrat Debbie Stabenow was able to retain an accelerated tax write-off for owners of Nascar tracks (cost: $78 million
• New Mexico’s Jeff Bingaman saved a tax credit for companies operating in American Samoa ($62 million), including a StarKist factory.
• Distillers are able to drink to a $222 million rum tax rebate.
• Businesses located on Indian reservations will receive $222 million in accelerated depreciation.

The WSJ gave special recognition to Chris Dodd, the former Senator who lobbied for Hollywood’s movie studios … getting a provision that allows film and television producers to expense the first $15 million of production costs incurred in the United States … this Hollywood special will cost the Treasury $430 million in 2013 and 2014.

Consumers will get tax credits for buying plug-in motorcycles ($7 million).

Do the jabrones in Washington have no shame?

You can’t reduce the debt by adding to the deficit.

It’s that simple guys.

* * * * *
Follow on Twitter @KenHoma       >> Latest Posts

This entry was posted on January 3, 2013 at 4:45 pm and is filed under Fiscal cliff, Gov't Waste & Inefficiency, Gov't Spending. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.