Baucus helps GOP get their Corporate Tax break bill passed

[papau]

Senate Passes Bill With Massive Corporate Tax Breaks and our media say what? And Our Dem friend Baucus buys the GOP deal of ending the filibuster for a vote on UE 13 week extention - knowing that the UE extention would be stripped out of any final bill - and in this case the extentsion did not pass - although the GOP had enough of their members vote yes so that it looked like a Kerry "yes" rather than "absent" would have passed it! I love Dem's like Baucus - not!

Reuters reports "The Senate passed a massive 900-page corporate tax-giveaway this morning 'that includes some $170 billion in new tax breaks for U.S. businesses over the next decade"

The AP reports there are Cheney's Big Energy corp bribe paybacks to the tune of 14 billion dollars, including "tax breaks for every special energy interest in the country including oil, gas, nuclear and utilities." Also, the bill encourages "construction of a $20 billion pipeline to carry natural gas from Alaska's North Slope," the Associated Press reports, "by guaranteeing a price support if the price of gas falls below a certain level and includes other favorable tax treatment for the proposed project."


The nominal function of the bill was to repeal the manufacturing export subsidies that the World Trade Organization said violated international trade rules... But the public trough was opened up to massive US corporations from a wide range of sectors. For example, US multinationals received a tax holiday 'to bring overseas earnings back to the United States at a 5.25 percent tax rate instead of the 35 percent corporate rate.'


http://www.20six.co.uk/weblogEntry/14nft0rm1m1l9

12 May 2004 at 01:26


Corporate Power| SENATE PASSES BILL WITH MASSIVE CORPORATE TAX BREAKS
The Senate passed a massive 900-page corporate tax-giveaway this morning "that includes some $170 billion in new tax breaks for U.S. businesses over the next decade," Reuters reports.

The nominal function of the bill was to repeal the manufacturing export subsidies that the World Trade Organization said violated international trade rules. The punitive import tariffs imposed by the EU in March have been rising by one percent each month.<snip>

Royal Caribbean, Carnival Corp, and the rest of the cruise ship industry received a "one-year delay in paying taxes on the airplane tickets, hotels, and other excursions it sells in the United States," a report by Taxpayers for Common Sense reads. The National Thoroughbred Racing Association got their wish - a 30% tax on foreigners' dog and horse racing bets has been eliminated. Also helped out were NASCAR, small aircraft producers, shipbuildiers, and Oldsmobile dealers