H.R. 1424: Wooden arrows, racetracks, and a $700 billion bailout package

As I’m sure most of you are already aware, the 110th Congress – 2nd Session (House and Senate) of the United States has recently passed a new version of the $700 billion economic “bailout” package after having been rejected by the House earlier in the week.

When Bush first came up with the idea of a bailout plan, it was 3 pages. After it got to the House it was 110 pages, the newest version, the version that passed, is 451 pages. Don’t believe me, I have
attached a copy of House Resolution 1424 to this email.

In addition to bailing out “Wall Street” theres a few hidden agendas, earmarks, pork barrel spending, and utter insanity at play here.

First off, look toward the bottom of page 300, you’ll find this little nugget of joy:

Section 503: EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN

What is this doing in a bill about bailing out failed banking compaines?

Furthermore, below it on page 301 is a section about the Exxon-Valdez oil spill litigation. On page 290 is a section devoted to extending the “recovery period for motorshprts racing track facility” from
December 31, 2007 to December 31, 2009.

Of note, is the fact both presidential candidates (Obama and McCain) voted YEA for the bill. This is interesting…

According to McCain’s own campaign website, he says he’s against earmarks. Yet, he voted YEA to a bill that has quite a big chunk of them full-bore. Here’s his website where it’s listed plain as day:
http://www.johnmccain.com/Issues/JobsforAmerica/reform.htm It’s in the section marked Comprehensive Spending Controls.

Obama doesn’t come out unscathed in this either, on his website (http://www.barackobama.com/issues/ethics/) he mentions that he will, “Shine the Light on Federal Contracts, Tax Breaks and Earmarks.” It goes on to mention that “Obama’s Transparency and Integrity in Earmarks Act will shed light on all earmarks by disclosing the name of the legislator who asked for each earmark, along with a written justification, 72 hours before they can be approved by the full
Senate.”

Something that I think should be noted upon as well is that both of these candidates were instrumental in drafting and passing the Federal Funding Accountability and Transparency Act of 2006 The passing of this act requires the full disclosure to the public of all entities or organizations receiving federal funds beginning in fiscal year 2007. The most visible part of this act is the http://www.usaspending.gov website that shows how much the government has paid, and to who.

So, to me, I find it odd that two people who are both against earmarks and are all for government accountability have completely abandoned a great opportunity to show the American people an example of corruption in government that they both claim they’ll fix.

I have attached below a website that tells a little more about the earmarks and also the sites of both the House and Senate that shows how each representative voted. Unfortunately, I’ve yet to uncover who these earmarks are supposed to help.

hr-1424

Who voted for and against the bill in the Senate

Who voted for and against the bill in the House

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