New bailout bill

[Krissie]

I''ve spent the past hour reading through the bill the Senate''s going to consider tonight.


I''m particularly happy they''re going to do something about those damn wooden arrows. From p 300:

SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN

WOODEN ARROWS DESIGNED FOR USE BY CHILDREN.

(a) IN GENERAL.—Paragraph (2) of section 4161(b)

is amended by redesignating subparagraph (B) as sub

paragraph (C) and by inserting after subparagraph (A)

the following new subparagraph:

‘‘(B) EXEMPTION FOR CERTAIN WOODEN

ARROW SHAFTS.—Subparagraph (A) shall not

apply to any shaft consisting of all natural

wood with no laminations or artificial means of

enhancing the spine of such shaft (whether sold

separately or incorporated as part of a finished

or unfinished product) of a type used in the

manufacture of any arrow which after its assembly—

‘‘(i) measures 5⁄16 of an inch or less in

diameter, and

‘‘(ii) is not suitable for use with a bow

described in paragraph (1)(A).’’.

(b) EFFECTIVE DATE.—The amendments made by

this section shall apply to shafts first sold after the date

of enactment of this Act.

 

[Daydreamer7130]

Oh, you have GOT to be kidding!!! I wonder what kind of other BS is in this bill and if anyone put some earmarks/pork in it.

Do you have a link to the bill?

Thanks,

Cynthia

 

[starsapphire]

Jeez, stuff like this is why they have so many squabbles. UGH.

 

[strmrdr]

it is the same bill with a bunch of added pork.
totally sux
I have been contacting my rep all day to ask him to vote no tomorrow.

 

[tanuki]

My favorite is the "extending FDIC insurance for amounts up to $250,000". Did you get from the news media that this great break for the common man applies only for the year 2009. One year then back to what it was before.

Anyone who pays attention to having your savings FDIC insured knows that all you have to do is divide the same $250,000 into three smaller increments of less than $100,000 and put the money into three different FDIC insured banks of your choice and you are completely covered without needing the benefit of the bill.
How many people will forget to divide up their account before the year expires and have $150,000 at risk in the event their bank fails?

I''m planning on calling my Congressman again tomorrow - but Senator Fienstein''s office recieved 90,000 phone calls from constituents concerned about the bill with about 85,000 of them against it and she voted in favor of it anyway.