A repub congressman speaks

[WillowTree]

the delay is still inexcusable - at least by most reasonable standards.

what was it congress was doing for all that time since the storm?

good question, what was king and all the rest of the representatives in those districts doing all this time? And why do some of the victims still live without power, and why is it okay with you for them demoncraps to load the bill up with PORK?

I have no doubt the Dems porked where they could but can we say the Pubs did not pork, and say it truthfully.

did the republicans pork up this bill? I don't think so.

 

[JakeStarkey]

Let's make sure. Can anyone out there honestly say that the Pubs did not pork the bill?

 

[bigrebnc1775]

So without further ado, here are eight corporate subsidies in the fiscal cliff bill that you haven’t heard of.

1) Help out NASCAR - Sec 312 extends the “seven year recovery period for motorsports entertainment complex property”, which is to say it allows anyone who builds a racetrack and associated facilities to get tax breaks on it. This one was projected to cost $43 million over two years.

2) A hundred million or so for Railroads - Sec. 306 provides tax credits to certain railroads for maintaining their tracks. It’s unclear why private businesses should be compensated for their costs of doing business. This is worth roughly $165 million a year.

3) Disney’s Gotta Eat - Sec. 317 is “Extension of special expensing rules for certain film and television productions”. It’s a relatively straightforward subsidy to Hollywood studios, and according to the Joint Tax Committee, was projected to cost $150m for 2010 and 2011.

4) Help a brother mining company out – Sec. 307 and Sec. 316 offer tax incentives for miners to buy safety equipment and train their employees on mine safety. Taxpayers shouldn’t have to bribe mining companies to not kill their workers.

5) Subsidies for Goldman Sachs Headquarters – Sec. 328 extends “tax exempt financing for York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.

6) $9B Off-shore financing loophole for banks – Sec. 322 is an “Extension of the Active Financing Exception to Subpart F.” Very few tax loopholes have a trade association, but this one does. This strangely worded provision basically allows American corporations such as banks and manufactures to engage in certain lending practices and not pay taxes on income earned from it. According to this Washington Post piece, supporters of the bill include GE, Caterpillar, and JP Morgan. Steve Elmendorf, super-lobbyist, has been paid $80,000 in 2012 alone to lobby on the “Active Financing Working Group.”

7) Tax credits for foreign subsidiaries – Sec. 323 is an extension of the “Look-through treatment of payments between related CFCs under foreign personal holding company income rules.” This gibberish sounding provision cost $1.5 billion from 2010 and 2011, and the US Chamber loves it. It’s a provision that allows US multinationals to not pay taxes on income earned by companies they own abroad.

8) Bonus Depreciation, R&D Tax Credit – These are well-known corporate boondoggles. The research tax credit was projected to cost $8B for 2010 and 2011, and the depreciation provisions were projected to cost about $110B for those two years, with some of that made up in later years.


Read more at Eight Corporate Subsidies in the Fiscal Cliff Bill, From Goldman Sachs to Disney to NASCAR « naked capitalism

 

[WillowTree]

So without further ado, here are eight corporate subsidies in the fiscal cliff bill that you haven’t heard of.

1) Help out NASCAR - Sec 312 extends the “seven year recovery period for motorsports entertainment complex property”, which is to say it allows anyone who builds a racetrack and associated facilities to get tax breaks on it. This one was projected to cost $43 million over two years.

2) A hundred million or so for Railroads - Sec. 306 provides tax credits to certain railroads for maintaining their tracks. It’s unclear why private businesses should be compensated for their costs of doing business. This is worth roughly $165 million a year.

3) Disney’s Gotta Eat - Sec. 317 is “Extension of special expensing rules for certain film and television productions”. It’s a relatively straightforward subsidy to Hollywood studios, and according to the Joint Tax Committee, was projected to cost $150m for 2010 and 2011.

4) Help a brother mining company out – Sec. 307 and Sec. 316 offer tax incentives for miners to buy safety equipment and train their employees on mine safety. Taxpayers shouldn’t have to bribe mining companies to not kill their workers.

5) Subsidies for Goldman Sachs Headquarters – Sec. 328 extends “tax exempt financing for York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.

6) $9B Off-shore financing loophole for banks – Sec. 322 is an “Extension of the Active Financing Exception to Subpart F.” Very few tax loopholes have a trade association, but this one does. This strangely worded provision basically allows American corporations such as banks and manufactures to engage in certain lending practices and not pay taxes on income earned from it. According to this Washington Post piece, supporters of the bill include GE, Caterpillar, and JP Morgan. Steve Elmendorf, super-lobbyist, has been paid $80,000 in 2012 alone to lobby on the “Active Financing Working Group.”

7) Tax credits for foreign subsidiaries – Sec. 323 is an extension of the “Look-through treatment of payments between related CFCs under foreign personal holding company income rules.” This gibberish sounding provision cost $1.5 billion from 2010 and 2011, and the US Chamber loves it. It’s a provision that allows US multinationals to not pay taxes on income earned by companies they own abroad.

8) Bonus Depreciation, R&D Tax Credit – These are well-known corporate boondoggles. The research tax credit was projected to cost $8B for 2010 and 2011, and the depreciation provisions were projected to cost about $110B for those two years, with some of that made up in later years.


Read more at Eight Corporate Subsidies in the Fiscal Cliff Bill, From Goldman Sachs to Disney to NASCAR « naked capitalism

we're talking about pork in the Sandy victims bill.

 

[WillowTree]

The Pork Filled and Expensive Non-Relief Sandy Relief Bill - Katie Pavlich







lists the pork.


good call on JOhn Boehner's part.

 

[bigrebnc1775]

So without further ado, here are eight corporate subsidies in the fiscal cliff bill that you haven’t heard of.

1) Help out NASCAR - Sec 312 extends the “seven year recovery period for motorsports entertainment complex property”, which is to say it allows anyone who builds a racetrack and associated facilities to get tax breaks on it. This one was projected to cost $43 million over two years.

2) A hundred million or so for Railroads - Sec. 306 provides tax credits to certain railroads for maintaining their tracks. It’s unclear why private businesses should be compensated for their costs of doing business. This is worth roughly $165 million a year.

3) Disney’s Gotta Eat - Sec. 317 is “Extension of special expensing rules for certain film and television productions”. It’s a relatively straightforward subsidy to Hollywood studios, and according to the Joint Tax Committee, was projected to cost $150m for 2010 and 2011.

4) Help a brother mining company out – Sec. 307 and Sec. 316 offer tax incentives for miners to buy safety equipment and train their employees on mine safety. Taxpayers shouldn’t have to bribe mining companies to not kill their workers.

5) Subsidies for Goldman Sachs Headquarters – Sec. 328 extends “tax exempt financing for York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.

6) $9B Off-shore financing loophole for banks – Sec. 322 is an “Extension of the Active Financing Exception to Subpart F.” Very few tax loopholes have a trade association, but this one does. This strangely worded provision basically allows American corporations such as banks and manufactures to engage in certain lending practices and not pay taxes on income earned from it. According to this Washington Post piece, supporters of the bill include GE, Caterpillar, and JP Morgan. Steve Elmendorf, super-lobbyist, has been paid $80,000 in 2012 alone to lobby on the “Active Financing Working Group.”

7) Tax credits for foreign subsidiaries – Sec. 323 is an extension of the “Look-through treatment of payments between related CFCs under foreign personal holding company income rules.” This gibberish sounding provision cost $1.5 billion from 2010 and 2011, and the US Chamber loves it. It’s a provision that allows US multinationals to not pay taxes on income earned by companies they own abroad.

8) Bonus Depreciation, R&D Tax Credit – These are well-known corporate boondoggles. The research tax credit was projected to cost $8B for 2010 and 2011, and the depreciation provisions were projected to cost about $110B for those two years, with some of that made up in later years.


Read more at Eight Corporate Subsidies in the Fiscal Cliff Bill, From Goldman Sachs to Disney to NASCAR « naked capitalism

we're talking about pork in the Sandy victims bill.

OH but pork is pork isn't it?

 

[Harry Dresden]

and during the campaign you thought this guy was an ass......so now he isnt?.....

 

[JakeStarkey]

How much pork did GOP put into the bill? How much was pulled out of it?

 

[WillowTree]

How much pork did GOP put into the bill? How much was pulled out of it?

I don't think the GOP put pork in, can you link it? and if they did shame on them too. this bill was for Sandy Victims and no one else.

 

[JakeStarkey]

I agree, Willow Tree. I want to make sure we get all the facts on this. Any lege of any party that tried to put pork in the bill for their district should be exposed to the public.

 

[WillowTree]

I agree, Willow Tree. I want to make sure we get all the facts on this. Any lege of any party that tried to put pork in the bill for their district should be exposed to the public.

well, did you or did you knot find Republican pork. link it please.

 

[JakeStarkey]

There was pork, it was stripped, and people are pointing fingers. I can't tell who did what, but GOP from NY and NJ were infuriated that the bills were not passed earlier.

NY Republicans reject Issa claim Sandy bill laden with ‘pork’
By Alicia M. Cohn - 01/03/13 08:46 AM ET

New York Republicans on Thursday said they have no hard feelings toward Speaker John Boehner (R-Ohio), following criticism the previous day over his decision to cancel a vote on disaster relief for Hurricane Sandy.
But they are furious with another GOP colleague, Rep. Darrell Issa (Calif.), who has criticized the relief bill, claiming it is filled with wasteful spending.


Reps. Michael Grimm (R-N.Y.) and Pete King (R-N.Y.) rejected those charges and said extra "pork" measures were stripped from the House bill.
"That's just not accurate," Grimm said on CNN's "Starting Point" of Issa's claims. "There will be no pork in this bill."
"He is 1,000 percent wrong," King said of the California lawmaker, in a separate interview, also on CNN. King said the disaster-relief requests include only what the governors of the states affected by Sandy requested.
"If he wants to take it up with somebody, call Gov. [Chris] Christie," he added, referring to New Jersey's Republican governor.
Issa told Fox News on Wednesday that the Senate added unneeded funding requests to the bill. He defended Boehner for delaying the House vote because the Senate had already left town.
Boehner on Tuesday night canceled plans to hold votes on the Sandy bill, angering lawmakers from the affected states. King was so furious at the delay that he suggested early Wednesday that he might not support Boehner as Speaker.
Representatives from New York and New Jersey met with House leadership on Wednesday afternoon to express their dismay with the Speaker's decision and urge Boehner to bring votes to the floor as quickly as possible after the new Congress begins on Thursday.
Boehner decided to schedule two votes, with the House taking up a measure for $9 billion to shore up the National Flood Insurance Program on Friday and another $51 billion Sandy spending package on Jan. 15.


Read more: NY Republicans reject Issa claim Sandy bill laden with

 

[WillowTree]

There was pork, it was stripped, and people are pointing fingers. I can't tell who did what, but GOP from NY and NJ were infuriated that the bills were not passed earlier.

NY Republicans reject Issa claim Sandy bill laden with ‘pork’
By Alicia M. Cohn - 01/03/13 08:46 AM ET

New York Republicans on Thursday said they have no hard feelings toward Speaker John Boehner (R-Ohio), following criticism the previous day over his decision to cancel a vote on disaster relief for Hurricane Sandy.
But they are furious with another GOP colleague, Rep. Darrell Issa (Calif.), who has criticized the relief bill, claiming it is filled with wasteful spending.


Reps. Michael Grimm (R-N.Y.) and Pete King (R-N.Y.) rejected those charges and said extra "pork" measures were stripped from the House bill.
"That's just not accurate," Grimm said on CNN's "Starting Point" of Issa's claims. "There will be no pork in this bill."
"He is 1,000 percent wrong," King said of the California lawmaker, in a separate interview, also on CNN. King said the disaster-relief requests include only what the governors of the states affected by Sandy requested.
"If he wants to take it up with somebody, call Gov. [Chris] Christie," he added, referring to New Jersey's Republican governor.
Issa told Fox News on Wednesday that the Senate added unneeded funding requests to the bill. He defended Boehner for delaying the House vote because the Senate had already left town.
Boehner on Tuesday night canceled plans to hold votes on the Sandy bill, angering lawmakers from the affected states. King was so furious at the delay that he suggested early Wednesday that he might not support Boehner as Speaker.
Representatives from New York and New Jersey met with House leadership on Wednesday afternoon to express their dismay with the Speaker's decision and urge Boehner to bring votes to the floor as quickly as possible after the new Congress begins on Thursday.
Boehner decided to schedule two votes, with the House taking up a measure for $9 billion to shore up the National Flood Insurance Program on Friday and another $51 billion Sandy spending package on Jan. 15.


Read more: NY Republicans reject Issa claim Sandy bill laden with

I posted the pork, so how can they reject the notion that there was pork! Crazy bastards. They don't give a shit about taxpayers or the Sandy victims who happen to be taxpayers too.

 

[JakeStarkey]

I agree that Congresspeople are out of touch with the rest of us who live in real America.

 

[emptystep]

I have no respect for any congressman Republican or Democrat who thinks it's okay to steal one third of the Sandy victims relief money and send it to places Like Alaskan Fisheries. Fuck King and the horse he rode in on.

Can you link to where you get that 1/3 number from. I expect the only place you will find it is from Fox news, or a direct mouthpiece thereof? Fox is trying to kill relief for Americans in desperate need. Where do their interests truly lie? Self interest?

 

[Stephanie]

I have no respect for any congressman Republican or Democrat who thinks it's okay to steal one third of the Sandy victims relief money and send it to places Like Alaskan Fisheries. Fuck King and the horse he rode in on.

Can you link to where you get that 1/3 number from. I expect the only place you will find it is from Fox news, or a direct mouthpiece thereof? Fox is trying to kill relief for Americans in desperate need. Where do their interests truly lie? Self interest?

Look it up yourself is that if that is what you expect..how the fuck is a news station trying to kill relief for anyone, that is stupid.
you don't mind the pork and they passed some relief, so don't worry your wee head over it

 

[gwennie]

I have no respect for any congressman Republican or Democrat who thinks it's okay to steal one third of the Sandy victims relief money and send it to places Like Alaskan Fisheries. Fuck King and the horse he rode in on.

Can you link to where you get that 1/3 number from. I expect the only place you will find it is from Fox news, or a direct mouthpiece thereof? Fox is trying to kill relief for Americans in desperate need. Where do their interests truly lie? Self interest?

Go look it up yourself.....don't expect someone else to do your work for you. You know damn well the dems stuffed the bill with pork so to sit there like a pompous ass claiming that the repubs are trying to "kill relief" is a bit like a drag queen complaining that he doesn't like people treating him like a girl.....crazy, idiotic, and just plain nutball-ish. Fact....most liberals are batshit crazy.