First Key Congressional Black Caucus Members Actually Stopped The Bailout Then they fall in line and follow Nancy Pelosiand George W. Bush. Folks the Congressional Black Caucus sold us down the drain. As reported by the Daily Voice, and Skeptical Brother members of the Congressional Black Caucus voted 31-8 in favor of the financial rescue bill that passed the House of Representatives on Friday, with several members swtching their votes. The vote was a dramatic turnaround for the Caucus from Monday, when most members of the group voted against the plan.
The bill passed the full House of Representatives 263 to 171, just one day after the Senate approved the measure, 74 to 25. Senator Barack Obama personally called members of the CBC, some of whom credited him for changing their minds in favor of the bill, according to the Associated Press.
Thirteen CBC members -- Andre Carson (IN), Emanuel Cleaver (MO), Elijah Cummings (MD), Donna Edwards (MD), Al Green (TX), Jesse Jackson Jr. (IL), Sheila Jackson-Lee (TX), Carolyn Kilpatrick (MI), Barbara Lee (CA), John Lewis (GA), Bobby Rush (IL), David Scott (GA) and Diane Watson (CA) -- who had voted against the bill on Monday switched their votes in favor of it on Friday. Many who switched their votes cited the changes in the proposal made since the Senate passed the measure on Thursday.
Despite tremendous pressure from House Democratic leadership, eight members of the Caucus -- Reps. G.K. Butterfield, William Clay, John Conyers, William Jefferson, Hank Johnson, Donald Payne, Robert Scott and Bennie Thompson -- voted against the final bill on Friday.
Rep. Elijah Cummings and Donna Edwards, both of Maryland, told AP that Senator Obama had contacted them and pledged to help homeowners facing foreclosure on their mortgages if he wins the White House and promised to support changes in the bankruptcy law to help consumers. More HERE
AAPP: Lets call it the 700 Billion dollar fleecing of America, without any protections or direct help for homeowners facing foreclosure on their mortgages. Now I read my own Maryland congressional delegation, including of all people Rep. Elijah Cummings and Donna Edwards, both of Maryland, told AP that Senator Obama had contacted them and pledged to help homeowners facing foreclosure on their mortgages if he wins the White House and promised to support changes in the bankruptcy law to help consumers. As bigbaby says, WTF
There are also some four dozen small provisions. Among them, with projected costs over 10 years:
_Extending an expired provision that gives Puerto Rico and the Virgin Islands a rebate against excise taxes charged on imported rum. The rebate, at $13.50 per proof gallon, helps finance local infrastructure projects. The cost is $192 million.
_Establishing a new tax credit ranging from $2,500 to $7,500 for purchasers of plug-in electric-drive vehicles. Cost: $758 million.
_Extending tax credits that expired at the end of 2007 for certain domestic corporations involved in American Samoa economic development. Cost: $33 million.
_Extending a credit of up to $10,000 for the training of mine rescue team members. The credit expires at the end of this year and the one-year extension costs $4 million.
_Enacting President Bush's proposal to erase the debt of the black lung disability trust fund at a cost of $1.3 billion.
_Extending for one year a seven-year depreciation timetable that NASCAR and other motorsport racing facilities have had for some years, the same tax break that amusement parks enjoy. Without the extension, the tracks would have to depreciate the cost of their improvements over 15 years, raising their taxes by $100 million.
_Extending for five years a program that reduces import duties on some wool fabrics. The tariff relief benefits U.S. worsted wool fabric producers that use imported fibers and yarns. Cost: $148 million.
_Increasing the single-year deduction in production costs, from $15 million to $20 million, that film and TV productions may take if the costs are incurred in economically depressed areas. In an effort to keep film and TV productions in the U.S., it also allows more companies to use a domestic production deduction. Cost: $478 million.
_Allowing commercial fishermen and others hurt by the 1989 Exxon Valdez oil spill in Alaska to average out damage awards over three years rather than taking a one-year hit from the IRS. Cost: $49 million.
_Extending two programs that fund rural schools and rural communities that have been relying on declining income from logging on federal land or have low property tax bases because they are located on or next to federal lands. This is a major issue in the West. Cost: $3.3 billion.
_Exempting wooden practice arrows used by children from an excise tax of 39 cents per arrow. Oregon's two senators and two Wisconsin representatives previously introduced legislation calling for the action, saying the tax was meant for more expensive archery arrows and is untenable for makers of toy arrows that may cost only about 30 cents apiece. The bill would affect about a half-dozen manufacturers nationwide, including one in Oregon; the Oregon senators said they didn't seek its addition to the bailout, however. Cost: $2 million.
_Allowing employers to exempt from taxation what they spend on some fringe benefits for workers who commute to work by bicycle, for example reimbursing the cost of parking the bikes. Cost: $2 million. More HERE
The Congressional are truly a bunch of bought off cowards and traitors. We need to throw all of them out of office, and get a new group of members.I must say I expected more out the new member Donna Edwards, I guess she is not the new breed of leader I thought she would be.
Cross posted on African American political Pundit.com