You want your tax break (or credit) extended? Better give to the right congresspeople

US Capitol For Sale (Washington, DC)

This is a nice little game (and revenue stream) for Congress. Tax breaks and tax credits come up for renewal every year and the beneficiaries of these favors queue up to throw campaign dollars and other gifts at the feet of Washington politicians – every year.

It’s crony capitalist genius. Why write something permanently into the code and only get paid once when Congress can turn political favors into a subscription service?

Remember the old adage. Never kill a sheep. Shear it over and over.

(From The Washington Free Beacon)

“If the past is prologue, some—but not all—of these provisions will be extended, but we will not know until much later in 2014 which ones will be extended, whether they will be extended with modifications, how long they will be extended, whether the extension will be retroactive and who will be stuck “paying” for any such extension,” they wrote. “Still, despite the history of on-again, off-again extensions, it is risky to assume that any particular provision will be extended simply because it has been extended in the past.”

Click here for the article.