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 sub301 paragraph (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).
EFFECTIVE DATE.—The amendments made by this section shall apply to shafts first sold after the date of enactment of this Act.
read the full bill
Here is the actual title
IN THE SENATE OF THE UNITED STATES—110th Cong., 2d Sess. H. R. 1424
To amend section 712 of the Employee Retirement IncomeSecurity Act of 1974, section 2705 of the Public HealthService Act, section 9812 of the Internal Revenue Codeof 1986 to require equity in the provision of mentalhealth and substance-related disorder benefits under group health plans, to prohibit discrimination on thebasis of genetic information with respect to health insurance and employment, and for other purposes.
My thoughts: Tax bills must originate in the House of Representatives. Since the bailout had been defeated in the House, the Senate decided to play procedural games and attach the bailout to an existing bill. Dirty politics at its worst. The calls to Congress are at least 70% in opposition to the bailout. Congress claims to be providing "leadership".
Mark Twain was right. "Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself."
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