Provisions That Made the Bailout "Better"
Here are some of the provisions in the bailout that converted "no" votes to "yes." Unbelievable.
Andrew Leonard goes digging in the Senate's bailout package and finds a bunch of "sweeteners" added to lure in votes. Among them:
* Sec. 105. Energy credit for geothermal heat pump systems. * Sec. 111. Expansion and modification of advanced coal project investment credit. * Sec. 113. Temporary increase in coal excise tax; funding of Black Lung Disability Trust Fund. * Sec. 115. Tax credit for carbon dioxide sequestration. * Sec. 205. Credit for new qualified plug-in electric drive motor vehicles. * Sec. 405. Increase and extension of Oil Spill Liability Trust Fund tax. * Sec. 309. Extension of economic development credit for American Samoa. * Sec. 317. Seven-year cost recovery period for motorsports racing track facility. * Sec. 501. $8,500 income threshold used to calculate refundable portion of child tax credit. * Sec. 503 Exemption from excise tax for certain wooden arrows designed for use by children.
There
are also tax credits for solar and wind power, and a very expensive
requirement that health insurance companies cover mental health the
same way they cover physical health.
