The world was supposed to end last week when the bailout didn't pass. We're still here and the Senate passed a bill yesterday with another $100 billion in tax credits on top of the $700 billion already proposed. Apparently this bailout wasn't so important that it couldn't be passed without a lot of unrelated goodies. The fact is that there's plenty of credit still available. The only catch is that you have to be able to afford it.
Some examples of this bill's pork from the Tax Foundation:
Sec. 104. Energy credit for small wind property.
Sec. 105. Energy credit for geothermal heat pump systems.
Sec. 106. Credit for residential energy efficient property.
Sec. 205. Credit for new qualified plug-in electric drive motor vehicles.
Sec. 211. Transportation fringe benefit to bicycle commuters.
Sec. 308. Increase in limit on cover over of rum excise tax to Puerto Rico and the Virgin Islands.
Sec. 309. Extension of economic development credit for American Samoa.
Sec. 325. Extension and modification of duty suspension on wool products; wool research fund; wool duty refunds.
Sec. 502. Provisions related to film and television productions.
Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.
And congress wonders why they have a single digit approval rating. They screwed us once by creating the problem and are trying to screw us again with their phony and destructive attempts to "fix" it. Fool me once...
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