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« Remember the day that still lives "in Infamy" (updated) |
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| Huckaboom Continues »
December 07, 2007 Have a Little Pork With your BreakfastThe practice of earmarking, despite Democrats campaign promise to end the practice, continues apace - if less visible than before.Today brings news of one gigantic earmark designed to benefit one company and one company only: Plum Creek Timber (publicly traded under the symbol PCL). The earmark involved land owned by Plum Creek in Montana. Coincidentally enough, Montana's Democrat Senator Max Baucus is chair of the Senate Finance Committee that granted the earmark. Already the beneficiary of the a REIT status (where the company itself pays no federal taxes, but shareholders who receive generous dividends are taxable), Plum Creek is now to get yet another government break. One provision in the House-passed energy legislation subsidizes any sale of prime bull trout habitat in Montana for conservation purposes. From Bloomberg:
The more things change, the more things remain the same. The Democrats have again failed to fulfill their promise to end earmarks. I suppose they have been to busy collecting campaign donations and trying to derail our efforts in Iraq. |
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