Tax-Break Fight Stalls Farm Bill's Passage

[flashl]

Source: WSJ

WASHINGTON -- House Speaker Nancy Pelosi is clashing with the Senate over a proposal to add $2.5 billion in tax breaks to a big farm bill nearing completion on Capitol Hill.

The proposal includes provisions encouraging investment in biofuels and wind energy, help for retired and disabled farmers, and a faster tax write-off for owners of race horses, among other things. It has backing from Senate Finance Committee Chairman Max Baucus, a Montana Democrat, and Iowa Sen. Charles Grassley, the senior Republican on the committee.

Rather than add tax cuts, Rep. Pelosi is insisting instead that the bill steer more money to food assistance for the poor. In a recent closed-door meeting with Sen. Baucus, she said she couldn't be "responsible for taking food from babies," according to people familiar with the exchange. In the meeting, Sen. Baucus reminded Rep. Pelosi that the Senate already is supporting big increases in nutrition assistance.

The fight over tax cuts is among the last impediments to completing the farm bill, which divvies up tens of billions of dollars in federal support for farmers, land conservation, school lunches and rural economic development, among other things.

WSJ

Read more: http://online.wsj.com/article_email/SB120830282770817755-lMyQjAxMDI4MDE4NjMxMDYyWj.html

[dipsydoodle]

1. a faster tax write-off for owners of race horses

They've obviously got their priorities right :sarcasm:

WTF is that all about ?

[papau]

2. five dozen tax provisions to get GOP votes? - Why doesn't the media list them out?