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Tax breaks for rum, algae, Hollywood

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:

The full text of the bill and its amendments can be viewed here.

Broun said it “seems that the Democrats don’t mind tax breaks for the wealthy, so long as they’re targeted only to their friends.”

“My fear is that in a very short period of time we’ll be right back here having this same debate; who to raise taxes on and by how much, without a word about cutting spending,” he said.

His fear of returning to the debate “in a very short period of time” was confirmed by the Business Insider, which reported that on page 154 of the bill the date for the new fiscal cliff is March 1.