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Senate passes bailout

Discussion in 'U.S. Politics' started by Popeye, Oct 2, 2008.

  1. Popeye

    Popeye Well-Known Member

    Sep 3, 2007
    Likes Received:
    Washington state
  2. Pandora

    Pandora Well-Known Member

    Apr 6, 2008
    Likes Received:
    The people's republic of Eugene

    i hope the house votes it down again
  3. BigRob

    BigRob Well-Known Member

    Sep 4, 2007
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    I do not think that they will.
  4. Pandora

    Pandora Well-Known Member

    Apr 6, 2008
    Likes Received:
    The people's republic of Eugene
    If they dont pass it, will we really go right into a depression?

    They keep saying that, and each day its not passed they say it for the next day. At first I believed them but now I am thinking they are liars
  5. Mr. Carpenter

    Mr. Carpenter Well-Known Member

    Sep 26, 2008
    Likes Received:
    They passed it all right, and as expected, it's a LOAD OF CRAP JAMMED WITH PORK AND TOTALLY UNRELATED GARBAGE!!:mad:

    Renewable energy credit
    Production credit for electrically produced from marine renewables
    Energy credit
    Energy credit for small wind property
    Energy credit for geothermal heat pump systems
    Credit for residential energy efficient property
    New clean renewable energy bonds
    Credit for steel industry fuel
    Special rule to implement FERC and State electirc restructuring policy
    Expansion and modification of advanced coal project investment credit
    Expansion and modification of coal gasification investment credit
    Temporary increase in coal excise tax; funding of Black Lung Disability Trust Fund
    Special rules for refund of the coal excise tax to certain coal producers and exporters
    Tax credit for carbon dioxide sequestration
    Certain income and gains relating to industrial source carbon dioxide treated as qualifying income for publicaly traded partnerships
    Carbon audit of the tax code
    Inclusion of cellulosic biofuel in bonus depreciation for biomass ethanol plant property
    Credits for diodiesel and renewable diesel
    Clarification that credits for fuel are designed to provide an incentive for United States production
    Extension and modification of alternative fuel credit
    Credit for new qualified plug-in electric drive motor vehicles
    Exclusion from heavy truck tax for idling reduction units and advanced insulation
    Alternative fuel vehicle refueling property credit
    Certain income and gains relating to alcohol fuels and mixtures, biodiesel fuels and mixtures, and alternative fuels and mixtures treated as qualifying income for publicly traded partnerships
    Extension and modification of election to expense certain refineries
    Extension and suspension of taxable income limit on percentage depletion for oil and natural gas produced from marginal properties
    Transportation fringe benefit to bicycle commuters
    Qualified energy conservation bonds
    Credit for nonbusiness energy property
    Energy efficient commercial buildings deduction
    New energy efficient home credit
    Modifications of energy efficient appliance credit for appliances produced after 2007
    Accelerated recovery period for depreciation of smart meters and smart grid systems
    Qualified breen building and sustainable design projects
    Special depreciation allowance for certain reuse and recycling property
    Limitation of deduction for income atributable to domestic production of oil, gas, or primary products thereof
    Elimination of the different treatment of foreigh oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit
    Broker reporting of customers basis in securities transactons
    0.2 precent FUTA surtax
    Increase and extension of Oil Spill Liability Trust Fund tax

    Then there's the "Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008", which might help Dawkins out since it requires employers to cover De-de-de's and stoners on their insurance policies, and they can't be charged a premium.

    There's a half a BILLION crammed in there for "rural schools", for THIS YEAR!

    There's also the obligatory "disaster relief" legislation which includes tax breaks for those in declared disaster areas.

    Simply put, out of 451 pages of legislation, only 100 of them apply directly to the present emergency, and the rest are "riders", and other non-related legislation that they bundled together in one Bill so that they could get done and go home to campaign.

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