On Oct 1, 2008, at 2:45 PM, John Williams wrote: > As if the bailout itself weren't bad enough, HR 1424 is full of > absurdities, > such as section 503. We wouldn't want to mistakenly tax a child's > arrow > due to its lamination or shaft diameter, now would we? > > http://banking.senate.gov/public/_files/latestversionAYO08C32_xml.pdf > > 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).’’.(b) > EFFECTIVE DATE.—The amendments made by this section shall apply to > shafts first sold after the date of enactment of this Act.
So who is it that makes these wooden arrows again? And what state do they operate in, and how much excise tax are they wanting a break from? I'm sure following the money will lead to an interesting story .. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
