Taylor Rose is a Washington, D.C., staff reporter for WND.
WASHINGTON – Hundreds of millions of dollars in “tax credits” were loaded into the Democrats’ final “fiscal cliff” bill, which passed the House yesterday.
“The deal as it came to the House was loaded with special tax credits for Washington’s favorite industries and pet projects, as well as language to extend our current, broken, dairy price controls,” Rep. Paul Broun, R-Ga., told WND.
Examples of the credits, according to a report from The Joint Committee on Taxation:
$7 million “credit for qualified plug-in electric drive motor vehicles to include electric motorcycles”
$59 million “for production of cellulosic biofuel with a maximum credit of $1.01 per gallon and inclusion of fuel from algae”
$78 million for motorsports with a “7-year recovery period for certain motorsports racing track facilities”
$119 million tax credit for “Indian employment”
$154 million to “Credit for construction of energy-efficient new homes”
$222 million for “Accelerated depreciation for business property on Indian reservations”
$222 million to Puerto Rico and the U.S. Virgin Islands for a “Temporary increase in limit on cover of rum excise tax revenues”
$248 million for “Special expensing rules for certain film and television productions”