Okay, so the Senate has just passed the bailout bill Economic Rescue Plan 74-25.? The bill is a 451 page document, and contains pages and pages of stuff that are designed to put the most chronic insomniac to sleep in seconds.
Nevertheless, I actually tried reading through the bill today.? (It’s available here, if you are interested).?
The most interesting part of the bill, of course, is the provision on page 300.
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.
I am sure this is somehow related to solving the financial crisis, but can anyone tell me what the connection is? 😉