Ballooned Bailout Bill Has Dozens of Provisions - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

Ballooned Bailout Bill Has Dozens of Provisions

The bailout or rescue bill now sits in the House of Representatives.

With a vote expected tomorrow... lobbyists are working fast and furious to win coverts.

Along with a plan that will use 700 billion taxpayer dollars to bailout out troubled financial institutions, the bill contains dozens of other provisions...like the authorization of a study of trends in the mental health industry.

And benefits to those who commute by bicycle.

And even legislation dealing with Puerto Rico, which is not even a state.

One area congressman says provisions like these are what has taken so long to get the bill passed.

U.S. Rep. Mac Thornberry says, "they have nothing to do with the bailout. There are a number of special tax provisions by interest groups that are part of the reason people are so frustrated with Washington."

Thornberry says all the provisions have done is complicate what lawmakers need to do to help the country.

But certain provisions, like the one giving credit for a new plug in for electric cars...

...or a tax exemption for certain wooden arrows made for children are in the bill to lure legislators from both parties.

Thornberry says he would like to strip the bill of all the extra provisions, but says they need to stay so taxes will not increase next year.

To see the bill for yourself: http://www.senate.gov/pagelayout/legislative/b_three_sections_with_teasers/active_leg_page.htm#E 

 

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