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The Fiscal Cliff

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  • #519492
    rus
    rus
    Participant

    Snarf said:

    Me thinks the bill was pork stuffed and Christie ought pull out a mirror for congress to lay any blame.

    http://washingtonexaminer.com/tim-carney-how-corporate-tax-credits-got-in-the-cliff-deal/article/2517397#.UOc-Z-Q82Db

    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.

    The Family and Business Tax Cut Certainty Act of 2012, which passed through the Senate Finance Committee in August, was copied and pasted into the fiscal cliff legislation, yielding a victory for biotech companies, wind-turbine-makers, biodiesel producers, film studios — and their lobbyists. So, if you’re wondering how algae subsidies became part of a must-pass package to avert the dreaded fiscal cliff, credit the Biotechnology Industry Organization’s lobbying last summer.

    Some tax lobbyists mostly ignored the August bill “because they thought it would be just a political document,” one K Streeter told me. “They were the ones that got bit in the butt.”

    #519493

    News
    Participant

    Ohio Senator Says There’s No Avoiding Fiscal Cliff
    Friday February 22, 2013 4:07 PM

    COLUMBUS, Ohio – In a one-on-one interview with 10TV, Ohio’s junior senator Rob Portman discussed Washington’s inability to prevent sequestration. “My gut is we’re going to end up going over this cliff,” Portman said. “That may be what is necessary to trigger a more serious discussion about how we deal with our fiscal future.”

    READ MORE: http://www.10tv.com/content/stories/2013/02/22/ohio-senator-portman-interview.html

    #519494
    Snarf
    Snarf
    Participant

    #519495

    Coy
    Participant

    I’d say Boehner stands to lose the most in this game of chicken…
    Def not good for anyone in Ohio, thats for damn sure, tho.

    http://www.whitehouse.gov/sites/default/files/docs/sequester-factsheets/Ohio.pdf

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