Tuesday, November 11, 2008

Economic Bailout and Wooden Arrows?

With some reserves I support the bailout. No, actually, with MUCH reserve. So, I'm more than a bit horrified to find that the bailout offers an exemption to manufacturers of wooden arrows for children:

1. Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children. (Page 263)

Current law places an excise tax of 39 cents on the first sale by the manufacturer, producer, or importer of any shaft of a type used to produce certain types of arrows. This proposal would exempt from the excise tax any shaft consisting of all natural wood with no laminations or artificial means to enhance the spine of the shaft used in the manufacture of an arrow that measures 5/16 of an inch or less and is unsuited for use with a bow with a peak draw weight of 30 pounds or more. The proposal is effective for shafts first sold after the date of enactment. The estimated cost of the proposal is $2 million over ten years, according to the Joint Committee on Taxation.

Nice to know our money is so well spent!

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