Wednesday, October 1, 2008

Bailout passes Senate

The bailout plan passed the Senate. Not much of a surprise, and mostly a good thing. There are $150 billion in new tax breaks. That sounds like a huge amount, but two are expected: extending tax breaks for renewable energy, and changing the alternative minimum tax. Both of those are longstanding issues that had to be resolved soon. I'm in favor of both of them. I'm not impressed that the costs aren't accounted for in this budget, but I'll take what I can get. Let's worry about balancing the budget with the next administration.

For now, get the thing passed.

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