And it was put in by the Democrats! I hate to be cynical but. . .it must only be Republican big business and fat cats that must be evil.
The "fiscal cliff" legislation passed this week included $76 billion in special-interest tax credits for the likes of General Electric, Hollywood and even Captain Morgan. But these subsidies weren't the fruit of eleventh-hour lobbying conducted on the cliff's edge -- they were crafted back in August in a Senate committee, and they sat dormant until the White House reportedly insisted on them this week.
A Republican Senate aide familiar with the cliff negotiations tells me the White House wanted permanent extensions of a whole slew of corporate tax credits.
And the wealthy may now be giving less to philanthropic causes which is making some non-profits nervous.
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