I am not sure what the benefit to the overall economy from this is, or how many Yes votes in the Senate or House this won over, but here it is, from page 300 of the Emergency Economic Stabilization "bailout" bill passed by the Senate yesterday (451 pages long).
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 subparagraph (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.
I haven't finished reading the whole thing, maybe there are other important provisions in there which improved the original 3 page proposal and the earlier version rejected by the House -
full text of the bill.
And I thought folks the other day in the debate were all for cutting earmarks and special interests's influence. I guess something went wrong along the way.
