Tuesday, October 12, 2004

To fix a single corporate tax of $5 billion, Congress gives corporations $137 billion in breaks

In order to fix a $5 billion tax break that the World Trade Organization had declared an unfair advantage to U.S. exporters, the U.S. Congress passed a bill yesterday that will give various U.S. corporations in excess of $137 billion in tax breaks. The breaks will go to such corporations as BP Amoco and Exxon Mobile, as well as smaller companies like Home Depot and several companies based in the home district of Senate Majority Leader (and well established legislative-ethics violator!) Tom DeLay. Once again our Congress has proven that there is no pork that they do not like in an election year! From all indications, the members of the legislative branch of government were falling over each other to add greater and greater amounts of special interest tax breaks for their corporate sponsors.

Today is a sad day for Americans everywhere--most of them just won't know it! Read the full NYTimes coverage of the bill's passage here.

WAKE UP, AMERICA!! Find out whether your Representative and Senators voted for this legislation or not. If they did and they are up for re-election, you might want to decide if each of them deserves your vote.

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