Wednesday, September 12, 2007

Am I missing something here?...

The latest proposal to send me more money is calling for tax credits in order to do an end-around on PAYGO rules.
Landowners who enroll acreage in some land-conservation programs could get tax credits instead of cash payments, under a plan being developed in the Senate.

The proposal by the Senate Finance Committee is designed to free up funding in the farm bill to pay for other agricultural programs.

The tax-credit idea is among $8 billion to $10 billion in agricultural and rural development tax measures that the committee is considering, the committee's chairman, Sen. Max Baucus, D-Mont., said Tuesday.

A Baucus spokeswoman said the committee was still working on ways to pay for the measures. The committee's top Republican, Sen. Charles Grassley, R-Ia., has said the panel is looking at earmarking some import duties to fund farm programs.

Under congressional pay-as-they-go rules, any spending increases or tax breaks must be offset by budget cuts or tax increases. [More]

If this works, couldn't it be used for just about any project Congress wants?

This could be budget history in the making.

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