For anyone who is not familiar with the work Tim Carney is doing at the Washington Examiner they should be. Yesterday he reported on how it is that tax credits for certain companies found their way into the fiscal cliff bill.
It wasn’t some last minute insertion executed via some arcane legislative procedure. In fact it was a bundle of gifts constructed back in August just waiting to go at the right moment. The fiscal cliff debate was the right moment.
According to Carney former Senators-turned-lobbyists Breaux and Lott carried the deal. No wonder we can’t clean things up in Washington DC. The former head of the Senate is working against the taxpayer.
(From The Washington Examiner)
The “fiscal cliff” legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren’t the fruit of eleventh-hour lobbying conducted on the cliff’s edge — they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.