Section 503 of the bail out bill voted on by the US Senate was this gem:
EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN.
I know you want the details, so here they are:
‘‘(B) EXEMPTION FOR CERTAIN WOODEN
4 ARROW SHAFTS.—Subparagraph (A) shall not
5 apply to any shaft consisting of all natural
6 wood with no laminations or artificial means of
7 enhancing the spine of such shaft (whether sold
8 separately or incorporated as part of a finished
9 or unfinished product) of a type used in the
10 manufacture of any arrow which after its as11
sembly—
12 ‘‘(i) measures 5⁄16 of an inch or less in
13 diameter, and
14 ‘‘(ii) is not suitable for use with a bow
15 described in paragraph (1)(A).’’.
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7 Comments
Presumably Congress has done its usual trick of tagging on all sorts of trivial pork-barrel.
Yeah, good spot Mark. Good spot.
Of its extraordinary kind,and even if it had been attached to a less transcendental piece of legislation, this is a rare gem.
Apparently all the pork barrell nonsense and uncosted tax cuts put on the Senate has so pissed of some House Democrats it may be even less likley to pass than before.
We know Mark’s read that bit. Have the House members? Remember this is the body which passed the PATRIOT Act without noticing that several significant amendments had been removed by the Senate overnight. (This is one reason why I repeatedly bang on about MPs not doing their job in scrutinising legislation)
Any idea who was particularly into tax relief on arrow shafts and way. Is it a niche industry in a crucial swing town somewhere/
…and the Anglo-Saxon business world and populist politicians criticise the EU for bureaucracy!!!