The Spending Cuts Achieved by the Tax “Deal”

Here, in no particular order, are some.

  • tax subsidies for special business interests:
    • wind tax credit $12.1 billion
    • tax break for cellulosic ethanol—$59 million
    • tax break for impoverished producers of Hollywood—$248 million
  • extending extra jobless benefits for another year—$30 billion

Oh, wait—those weren’t cuts….

Just to put a cherry on top, the Congressional Budget Office scores the Senate bill as adding $4 trillion to the national debt by 2022.

Oops.

Update: Sorry, I don’t know what happened.  An earlier iteration of this post led with an inordinate amount of word processing commands before getting to the post itself.

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