Tax cut bill introduced by the Senate majority leader is chock-full of sweeteners — which cover everything from the Hollywood industry to rum producers — to serve as a legislative pacifier for Dems upset over the concessions the president has handed Republicans.

This tax ‘deal’ is proof that we will not be able to cut spending and the US will crash into a depression. ~ Editor

FOXNews.com

EXCERPTS:

Among the extra provisions are a tax credit for biodiesel, a tax credit for ethanol, extensions of tax credits for energy-efficient homes and appliances, and credits for training mine rescue teams.

It would allow millions of dollars worth of expensing for film and production companies doing work in the United States, give breaks for the rum trade in Puerto Rico and the Virgin Islands, provide incentives for investment in the District of Columbia and provide other benefits for the battered Gulf coast.

The 45-cent-per-gallon ethanol subsidy alone, extended through 2011, was estimated to cost about $5 billion. The issue is of particular interest to lawmakers from Midwestern states with grain crops.

FULL ARTICLE

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