Republican Establishment Bails Out Big Business in $85 Billion Tax Break Bill


by Tom Borelli

The ruling class of Big Business and their political partners are at it again, this time with a mammoth, bipartisan $85 billion two-year tax break bill moving through the Senate that would increase government spending for their mutual gain.

The Senate Finance Committee recently passed a “tax extender” bill that includes over 50 tax breaks for special business interests. Some of these loopholes include breaks for Hollywood studios, rum importers, wind production and NASCAR track owners, recurring items that were stuck into the 2013 Fiscal Cliff deal that expired at the end of last year. Others new additions include tax benefits for bike riding commuters, and a tax break for production costs of Broadway plays. Senator Charles Schumer (D-NY) is responsible for including these New York centric items in the bill.

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