I think I've found my favorite part of the Bailout Plan that the Senate passed
It is located under
DIVISION C—TAX EXTENDERS AND ALTERNATIVE MINIMUM TAX RELIEF
TITLE V—ADDITIONAL TAX RELIEF AND OTHER TAX PROVISIONS
Subtitle A—General Provisions
Sec. 503. Exemption from excise tax for certain wooden arrows designed for use by children.
And I quote from
the document itself:
8 SEC. 503. EXEMPTION FROM EXCISE TAX FOR CERTAIN
9 WOODEN ARROWS DESIGNED FOR USE BY
10 CHILDREN.
11 (a) IN GENERAL.—Paragraph (2) of section 4161(b)
12 is amended by redesignating subparagraph (B) as subpara
13 graph (C) and by inserting after subparagraph (A) the fol
14 lowing new subparagraph:
15 ‘‘(B) EXEMPTION FOR CERTAIN WOODEN
16 ARROW SHAFTS.—Subparagraph (A) shall not
17 apply to any shaft consisting of all natural wood
18 with no laminations or artificial means of en
19 hancing the spine of such shaft (whether sold sep
20 arately or incorporated as part of a finished or
21 unfinished product) of a type used in the manu
22 facture of any arrow which after its assembly—
23 ‘‘(i) measures 5⁄16 of an inch or less in
24 diameter, and
1 ‘‘(ii) is not suitable for use with a bow
2 described in paragraph (1)(A).’’.
3 (b) EFFECTIVE DATE.—The amendments made by this
4 section shall apply to shafts first sold after the date of enact5
ment of this Act.
Hooboy.
Other winners from Subtitle A:
Sec. 502. Provisions related to film and television productions.
Sec. 504. Income averaging for amounts received in connection with the Exxon Valdez litigation.