Thursday, July 26, 2007

Praise the Lord and pass the Coronas

The Bush administration threatens to veto the farm bill if Democrats insist on closing a tax loophole for tax-dodging campaign donors.
Farm-state Republicans had been lining up with Democrats to defend the bipartisan bill but changed course when notified that a proposed increase in nutrition programs would be funded partly by tightening the rules on U.S.-based foreign companies that avoid U.S. taxes by using offshore havens.

Republicans quickly picked up on a White House statement branding the funding plan as an unacceptable tax increase. Rep. Robert W. Good- latte (Va.), the ranking Republican on the House Agriculture Committee, said that all GOP lawmakers on the panel as well as GOP leaders would oppose the bill if the funding proposal stays in.

Democrats said the tax proposal would merely close a loophole that the Bush administration itself has decried in the past. "Who is surprised that the administration takes the side of CEOs who hold beachside board meetings at the expense of programs to feed the least fortunate here at home?" asked Rep. Lloyd Doggett (D-Tex.), a senior member of the Ways and Means Committee.
Not me. You?

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