Congress Seeks ($40 B) Tax Cuts for Manufacturers

[Khephra]

WASHINGTON -- The Senate's top tax writer said Tuesday he will introduce a business tax cut this week that would lower rates for domestic manufacturers.

"It'll be big," said Sen. Charles Grassley, R-Iowa, chairman of the Senate Finance Committee.

At the same time, the chairman of the tax-writing committee in the House, Rep. Bill Thomas, R-Calif., is talking with GOP leaders about adding a roughly $40 billion tax cut for domestic manufacturers to a bill on the agenda this fall.

Lawmakers have become increasingly concerned about the health of the country's manufacturers and the political fallout from sustained job losses.

Manufacturing has lost almost 16 percent of its work force, or 2.7 million jobs, in a record 37 consecutive months. Though still struggling, analysts say the sector is starting to recover.

more

http://www.newsday.com/news/politics/wire/sns-ap-congress-taxes,0,229267.story?coll=sns-ap-politics-headlines

[Beetwasher]

1. Now, why would they do this?

I thought everything was honkey dorey and prosperity was right around the corner...Why more "stimulus?"

[dusty64]

2. Another HUGE giveaway

to big corporations. When will People wake up?

[shirlden]

3. Duh...I don't get it

What is the connection between tax cuts for corporations and jobs for the jobless? Isn't this just like the other two Shrub tax cuts....just aimed at the wealthy? Giving a manufacturer a tax break will just put more loot into after tax profit that then goes into some rich cats pocket. Bet they also make it retroactive to about 1950.

[mth44sc]

4. Well I gather

They's like these corps to be able to establish themselves off-shore even faster. IDIOTS.

You want to get manufacturing back on its feet - invest in this countries failed infastructure or invest in a program to develop alternate sources of energy. Invest in something that is going to create jobs - spur technology and build new markets for new products.

Think NASA in the 60's and 70's

[Flying_Pig]

5. Just yet another way for these radical fascists to bleed our....

treasury dry. That's the plan, and they're sticking with it. With a $500 billion (try ONE TRILLION) deficet looming,we give still more money away to the wealthy. These people are traitors, and more damaging to this nation that a freakin' herd of Osamas....

On edit: The Dems better filibuster this godamnit! I am going to call Kerry, and Pelosi, and Daschle, and insist on it. No way this should be allowed to pass.