Ornaments on the Rescue Bill Christmas Tree
Lawmakers were adamant in their desire not to "Christmas tree" the $700 billion Wall Street rescue bill, which is jargon for loading up a bill with a number of (often) pork-related projects that have nothing to do with the main body of the legislation.
Yeah, good luck with that. It's like asking a fish to not swim, or the Mets to not choke.
Treasury Secretary Hank Paulson's three-page rescue plan outline has become a 451-page bill approved by the Senate and headed to the House.
It includes a number of extensions of tax exemptions for projects and products, such as Puerto Rican rum, business development credit for American Samoa and children's wooden arrows.
No kidding. Children's wooden arrows: unexpectedly crucial to preserving the U.S. economy as we know it.
Read all the details here, in this blog posting on the Big Money, the new business report from Slate which, like this blog, is owned by The Washington Post Co.
-- Frank Ahrens
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Posted by: david,veteran | October 2, 2008 3:11 PM
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