The US Senate passed H.R. 1424, the vehicle to enact a financial bailout, by a vote of 74 to 25. That crosses the first hurdle. Next comes the house vote.
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The US Senate passed H.R. 1424, the vehicle to enact a financial bailout, by a vote of 74 to 25. That crosses the first hurdle. Next comes the house vote.
#1 by Jackie at October 2nd, 2008
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200,000 was allocated to wooden arrows. That’s not a joke.
#2 by Ben at October 2nd, 2008
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From http://banking.senate.gov/public/_files/latestversionAYO08C32_xml.pdf :
SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN.
(a) IN GENERAL.—Paragraph (2) of section 4161(b) is amended by redesignating subparagraph (B) as sub301 paragraph (C) and by inserting after subparagraph (A) the following new subparagraph:
‘‘(B) EXEMPTION FOR CERTAIN WOODEN ARROW SHAFTS.—Subparagraph (A) shall not apply to any shaft consisting of all natural
wood with no laminations or artificial means of enhancing the spine of such shaft (whether sold separately or incorporated as part of a finished
or unfinished product) of a type used in the manufacture of any arrow which after its assembly—
‘‘(i) measures 5⁄16 of an inch or less in diameter, and
‘‘(ii) is not suitable for use with a bow described in paragraph (1)(A).’’.
(b) EFFECTIVE DATE.—The amendments made by this section shall apply to shafts first sold after the date of enactment of this Act.