Bachmann holds strong against bailout bill

Categories: Politics

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If we can give Rep. Michele Bachmann credit for something, she isn't backing down on her two bailout bill "No" votes. She actually writes a compelling blog post today linking to Taxpayers for Commonsense, which shows some of the pork added to the second version of the bailout that might have helped sway some representatives to change their vote.

Bachmann says:

The first bill (with a $700 billion price tag for taxpayers) failed with an overwhelming bipartisan majority. Then the Senate passed a second version that was loaded with tax “sweeteners” in an attempt to attract enough lawmakers in the House who voted “Nay” the first time around to switch their vote to pass the bill. That jacked the price tag up to $810 billion. You’ve got to love Washington.

Check out the Top 10 after the jump.

Top 10 Tax Sweeteners in the recently passed Bailout Bill

As the organization notes, not all of these are outrageous on their own, but when we are supposed to be voting on a bailout package that is already putting the American people further in debt, these extras are the last thing that should be thrown into the mix as political currency to attract votes. They should have been dealt with at another time.

1.) Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children ($2 million)

2.) Sec. 317. Seven-year cost recovery period for motorsports racing track facility ($100 million)

3.) Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands ($192 million)

4.) Sec. 301. Extension and modification of research credit ($19 billion)

5.) Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation ($49 million)

6.) Sec. 601. Secure rural schools and community self-determination program ($3.3 billion)

7.) Sec. 201. Deduction for state and local sales taxes ($3.3 billion)

8.) Sec 502. Provisions related to film and television productions ($478 million)

9.) Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds ($148 million)

10.) Sec. 309. Extension of economic development credit for American Samoa ($33 million)

Good points, Bachmann. Finally a more reasonable argument questioning this bailout bill. More seriously, where was the newspaper bailout provision? We seemed to have missed that one while reading the legislation.

Does Bachmann have a good point here? Was it still worth passing this bailout despite the pork attached to it?


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