Political Quotes

“this legislation began as a modest effort to repeal an illegal export subsidy. It has grown to 633 pages with nearly $140 billion in corporate tax breaks over the next decade. The conference report replaces the $50 billion export subsidy with a $77 billion manufacturing tax cut--a net tax cut for domestic manufacturing of $27 billion after the loss of the subsidy, $43 billion in tax breaks on overseas income, and $17 billion in tax breaks for special interests. The bill does not include FDA regulation of tobacco, a Senate-passed provision to block new overtime rules that hurt workers, and a Senate-passed provision giving a tax break to companies that make up the pay gap for activated Reservists and Guardsmen. It does include a tobacco buyout that gives most of the benefits not to small farmers but to anyone who owns tobacco quotas and will do nothing to help farm communities, a huge amount of corporate pork, and almost twice as much in new international tax breaks as in domestic manufacturing tax breaks, which will encourage companies to move operations and assets abroad. It also uses the same accounting tricks as the previous Bush tax cuts to make the bill appear revenue neutral when it will actually cost billions. The Senate approved a tobacco buyout with $2 billion in transition assistance to communities that depend on tobacco production. The conference report drops this assistance entirely.”