Special-interest zeal to use the national-security crisis as an excuse for huge new upper-income tax breaks continues unabated in Washington, D.C.
On a party-line vote, the House on October 24 approved a bloated "stimulus" tax-cut bill that makes a mockery of the previous bipartisan agreement between congressional leaders and the administration that additional stimulus measures should be temporary and limited to a total of $50 billion to $75 billion. Instead, House Republicans have adopted a laundry list of new tax breaks, some explicitly permanent, that are officially expected to cost a staggering $212 billion over the next three fiscal years--and heaven only knows how much thereafter.