Wednesday, 01 October, 2008
Bailout Bill #2
Take 2. Now it's up to 451 pages: Emergency Economic Stabilization (pdf).
Here's my favorite part, beginning on page 300: EXEMPTION FROM EXCISE TAX FOR CERTAIN WOODEN ARROWS DESIGNED FOR USE BY CHILDREN.
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 inѠ 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.
I wonder how much debate that generated?