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03 Oct 2008
A 39% tax break on a US company which manufacturers wooden arrows for children is being used as a wager on the result of America's $700bn financial rescue package.
According to a report on timesonline.co.uk, two Oregon senators have modified the existing Bill with a provision revoking a 39% excise tax on children's wooden arrows, effectively rescuing Rose City Archery. The report said three House members from the state voted against the Bill on earlier this week, but the new clause could see a reversal in their decision.
In addition, those affected by the1989 Exxon Valdez oil disaster also stand to gain $223m in tax breaks if the Bill passes.
A number of these 'pork barrell' projects are being touted as wavers in garnering votes to pass the Bill.
The Bill also includes the revision of $128m of tax relief for the manufacturers of car racing tracks and $10m in tax breaks to small television and film producers.
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Briefings
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