Quorum-Laurelhurst Seattle Real Estate Blog


 

Exactly what are these 'Sweeteners' Bail-Out Package Bribes
by Jenn Flynn

So I’ve been trying to figure exactly what all was included in order to “sweeten” the Bail Out package enough to get it to pass. I can’t beleive how hard it seems to be to find out exactly what is included, and I can’t beleive some of the things I’m hearing/reading are a part of it. It really bugs me that so much that had nothing to do with the bail-out is included in this package. Talk about pork barreling.

 

Here is the list I’ve compiled so far…Let me know if you know of more.

  1. Almost a $200 million tax rebate for the Virgin Islands and Puerto Rico’s rum production  
  2. Tax credit that exempts wooden practice arrows used by children from an excise tax of 39 cents per arrow (2 million)  
  3. Tax credit for race-track owners. (100 million)  
  4. A tariff relief measure for US worsted wool fabric producers that use imported yarns (148 million)
  5. temporarily raising the FDIC insurance cap to $250,000 from $100,000
  6. Tax credit for bicycle commuters
  7. Extends a number of renewable energy tax breaks for individuals and businesses, including a deduction for the purchase of solar panels.
  8. Research and development credit for businesses and the credit that allows individuals to deduct state and local sales taxes on their federal returns.
  9. In addition, the bill includes relief for another year from the Alternative Minimum Tax
  10. Insurance companies would have to provide coverage for mental health services comparable to what they provide for other health care.
Posted 2008-10-06