The Senate Bailout Bill

President Bush’s bailout bill was 3 pages in length.  The one that the House of Representatives defeated was 106.  The Senate bailout bill passed on October 1st is 451 pages.  Historians will note that this is a mental health bill with a few additional provisions.

Only the first 113 pages of the Senate bill are actually related to the bailout.  The remainder are essentially pork barrel provisions attached to get Senators to vote for the plan, including:

  • Renewable energy credits
  • FUTA surtax
  • Alternative minimum tax relief
  • Tax breaks for teachers
  • Investment in Washington, DC
  • Something about wooden arrows and children
  • and on and on

There are 101 energy, tax, mental health, Federal land and disaster provisions – something for everyone.  It has essentially become an energy and tax credit plan with an oh-by-the-way bailout attached to the front of it.  This is how we legislate.

Read it here if you’d like.  It’s a PDF document.

Yet the non-bailout riders in the House plan will wildly top this.  I am wildly disgusted and will torture myself by poring through the House bill as soon as I can find it.

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