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5 Things You Won’t Believe That Are In The Fiscal Cliff Bill That The Senate Passed At 2 AM While Most Americans Were Drunk
Last night just before 2 AM, the Senate overwhelmingly agreed to pass a bill that will avert the Fiscal Cliff.
The bill is pretty straightforward. Taxes will only rise on those making over $ 400K (liberals wanted $ 250K, GOP wanted no taxes to rise). Spending cuts will be delayed for 2 months to give the sides more time to address them.
So why is the bill 157-pages long?
Because when Washington does business and passes a huge bill, there’s all kinds of little other tax things most Americans have never heard of that also get into the bill. It’s just how it works.
1. There’s a provision extending a tax policy related to Puerto Rican rum.
2. And a tax credit for 2 and 3 wheel electric vehicles.
3. Something having to do with Diesel Fuel:
4. An extension of some special rules for the film and television business.
5. Some kind of gift to the car-racing world.
Some might think this is nefarious, that politicians see a huge bill and then sneak in all these random thinks. The reality is more like these things have been around for awhile, and everytime a big bill comes up about taxes expiring, these get extended too.