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Vituperative Bloggery

Wednesday, June 16, 2004

Matt Yglesias is partially correct about deadbeat Republicans. However, it is also likely that the Democrats have already won the November election. How? Well, the last few months of any President's term are the lame duck months. In addition, as the likelihood of a Kerry victory increases it will become concomitantly more difficult for Bush to actually get anything done. For all intents and purposes, we may already have seen the last horrible hurrahs of Bush's terrible tenure. Wishful thinking? Maybe. But it's not going to be easy for any big Republican measures (as if there actually are any) to pass through Congress until (and if) Bush gets legitimately elected.

UPDATE: I was wrong. Holy Jesus God. How wrong I was.
The House voted 251 to 178 yesterday to replace an export subsidy with a major tax cut for domestic manufacturers and multinational corporations, setting up difficult negotiations with the Senate on one of the most significant corporate tax bills in 20 years.

[…] The centerpiece of both the House bill and the Senate's version would cut the top tax rate for domestic manufacturers from 35 percent to 32 percent, but other provisions have pushed the final House bill to 496 pages and the Senate-passed bill to 930.

[…] If all…temporary provisions were implemented immediately and extended over 10 years, the bipartisan Joint Tax Committee estimated, the cost of the House bill would reach $260 billion. […] The House bill includes measures tailored to help restaurant owners, makers of private jets, bank directors, timberland owners, liquor distillers, Native American whalers, commodity traders and shipping conglomerates, to name a few. One last-minute provision, pushed in part by Home Depot, temporarily lifts customs duties on Chinese-made ceiling fans.

"Christmas has come on the 17th of June," said Rep. Jim McDermott (D-Wash.).

House Minority Whip Steny H. Hoyer (D-Md.) declared it the worst tax bill he has seen in his 24 years in the House and "an orgy of self-indulgence."

[…] Much of the criticism focused on the tobacco provision, which has raised the ire of anti-smoking groups, fiscal conservatives and economists inside the White House. They say much of the $9.6 billion will go not to beleaguered farmers but to owners of tobacco-growing allotments who may be generations removed from family tobacco fields. […] "There are a lot of things that are ugly in this bill, but the tobacco thing is what clearly broke Joe Camel's back," said Rep. Jeff Flake (R-Ariz.). "This is now larded up beyond recognition."

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