Fiscal Cliff Pork
Do you know what is actually in the Fiscal Cliff bill?
By WD Research Staff
Wednesday, January 2nd, 2013
- $480 million in aid for rum production in the Virgin Islands and Puerto Rico... Captain Morgan, in fact!
- $430 billion in tax breaks for Hollywood studios to film in the United States
- $59 million in tax credits for algae biofuel growers and asparagus farmers
- Extends $2,500 tax credit for electric scooter purchases
- Up to $40 Billion in tax incentives to groups like NASCAR to maintain their motor speedways
- $331 million for railroads by allowing short-line and regional operators to claim a tax credit up to 50% of the cost to maintain tracks they own or lease
- Extends tax-free financing through Liberty Bonds; meant to help revive a post-9/11 New York, Goldman Sachs used $1.6 billion in Liberty Bonds to help finance their massive new headquarters in Manhattan.
- Extends tax credits for mining companies to purchase safety equipment and train employees on mine safety
- $9 billion in off-shore tax breaks for corporations; this provision allows multinational corps to defer U.S. taxes by moving profits into offshore financial subsidiaries
- $8 billion in tax breaks for corporate Research & Development
- $110 billion in Bonus Depreciation tax benefits
The Best Free Investment You'll Ever Make
Sign up for the free Wealth Daily e-letter below.
In each issue, you'll get our best investment research, designed to help you build your wealth perpetually, minus the risk.
By signing up, you'll instantly receive our new report: