Spending bill includes $110 billion in tax breaks
By Yeganeh Torbati The Washington Post,Updated December 22, 2020, 5:39 p.m.
Email to a Friend
The motorsports entertainment industry, including NASCAR, got a tax break allowing for the faster write-down of costs related to their complexes.James Gilbert/Getty
WASHINGTON â Congress on Monday unveiled a 5,593-page spending bill and then voted on it several hours later, with lawmakers claiming urgent action was needed to rescue an ailing economy ravaged by the coronavirus pandemic.
But tucked in the bill was more than $110 billion in tax breaks that strayed far from the way the bill was marketed to many Americans. These giveaways include big tax cuts for liquor producers, the motorsports entertainment sector, and manufacturers of electric motorcycles.
Congress packed stimulus with corporate welfare njtoday.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njtoday.net Daily Mail and Mail on Sunday newspapers.
Daniel Grizelj/Getty Images
WIND GOOD FOR BUSINESS: Wind farms support 6,000 jobs and generate $29 million in annual revenue for state and local governments in Kansas. The state ranks second among U.S. states for the percentage of electricity generated by wind farms. Civic and business leaders share stories of wind development benefits.
Renewable energy has been good business for Kansas, and the future continues to look bright, according to local leaders and industry experts who participated in a panel discussion, “Renewable Energy and the Local Economy,” in early December.
The panel discussion was hosted by Boost Kansas, an initiative of the American Wind Energy Association, a coalition of civic and business leaders supporting renewable energy projects.