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Fiscal cliff deal includes at least $67.9 billion for special interests

By Call it Crazy   Follow   Mon, 7 Jan 2013, 9:37am PST   217 views   1 comment
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Taxpayers aren't the only ones who won't be flying off the fiscal cliff — this year, at least. Add race cars, movies and asparagus to the list.

As part of their last-second deal to slam the brakes on an economy racing toward the so-called fiscal cliff, lawmakers gave the green light this week to extending dozens of business and industry tax breaks, like a cost-recovery program that will save the owners of "motorsports entertainment complexes" (that is, racetracks) about $70 million over the next two years.

But the agreement also came loaded with extensions of separate existing tax breaks for businesses and industries, many of which had expired in the past year — about $67.9 billion in all in 2013, as tabulated by Congress' Joint Committee on Taxation.


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thomaswong.1986   Mon, 7 Jan 2013, 4:26pm PST   Share   Quote   Permalink   Like   Dislike     Comment 1

Really idiotic..

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