How Masters of Washington’s Big Money Game Won in the 1999 Tax Bill
|January 9, 2007||Posted by Staff under Archive, Progress Report, The Progress Report|
Common Cause Reports on Corporate Welfare
PAYING TO PLAY: How Masters of Washington’s Big Money Game Won in the 1999 Tax Bill
Publisher’s note: Here is a news alert from Common Cause. We think the readers of The Progress Report will find this quite interesting.
A new report from the Common Cause Corporate Welfare Project is now available on-line at:
The report exposes nine special corporate tax benefits in the new tax bill passed by Congress. The nine favors carry a hefty price tag of nearly $60 billion in lost tax revenue in the next 10 years.
While President Clinton is expected to veto the $792 billion tax bill passed by the House and Senate this summer, many of the special tax breaks and benefits are expected to live on in whatever tax legislation is signed into law.
The Common Cause report, “Paying To Play: How Masters of Washington’s Big Money Game Won in the 1999 Tax Bill,” shows how some of Washington’s biggest contributors of soft money – the unregulated and unlimited contributions to the political parties – also are the biggest beneficiaries in the tax bill.
These interests are likely to be jockeying furiously to save their special benefits as Congress reconvenes after Labor Day. That activity will come at the same time that both the House and Senate will be considering bipartisan campaign finance reform that would ban soft money. The House is expected to begin debate of soft money ban legislation during the week of September 13 and the Senate is scheduled to follow in October.
For the full “Paying to Play” report see: http://commoncause.org/publications/ptp/
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