Oh, Christmas Tree! Tax deal larded up with TARP special interest provisions

Remember all of those special interest tax breaks in the 2008 TARP bill?

– Film and Television Productions (Sec. 502)
– Wooden Arrows designed for use by children (Sec. 503)
– 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill.
– Virgin Island and Puerto Rican Rum (Section 308)
– American Samoa (Sec. 309)
– Mine Rescue Teams (Sec. 310)
– Mine Safety Equipment (Sec. 311)
– Domestic Production Activities in Puerto Rico (Sec. 312)
– Indian Tribes (Sec. 314, 315)
– Railroads (Sec. 316)
– Auto Racing Tracks (317)
– District of Columbia (Sec. 322)
– Wool Research (Sec. 325)

Many of them are back. Although I'm not sure yet whether the “research credit” is for “wool research.”

-Research credit.
-Indian employment tax credit.
-New markets tax credit.
-Railroad track maintenance credit.
-Mine rescue team training credit.
-7-year recovery period for motorsports entertainment complexes.
-Accelerated depreciation for business property on an Indian reservation.
-Election to expense mine safety equipment.
-Special expensing rules for certain film and television productions.
-Expensing of environmental remediation costs.
-Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
-Tax incentives for investment in the District of Columbia.
-Temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
-American Samoa economic development credit.

Just Posted

SF approves plans for a car-free Market Street

San Francisco will soon kick cars off one of its busiest thoroughfares… Continue reading

Fire burning after explosion at energy facility in Contra Costa County

Officials issue shelter-in-place alert for the area

San Francisco faced with dueling behavioral health plans as city leaders spar over reform initiatives

A disagreement over how to reform San Francisco’s behavioral health care system… Continue reading

Deal reached over shutdown of long-term mental health beds

San Francisco Mayor London Breed and public health leaders have agreed to… Continue reading

10,000 e-scooters? Not so fast — SF slashes fleet sizes before launch

A plan for 4,000 e-scooters to hit San Francisco streets Tuesday has… Continue reading

Most Read