Here’s What’s in the House’s New Spending Bill
The bill increases the deficit while giving multinational corporations a slew of new tax breaks
VIDEO: The House just approved a $1.1 trillion spending bill.
Here’s what you should know about it.
The forty-year ban on exporting crude oil is being repealed.
ED MARKEY (D-MA): The oil industry push to export American oil isn’t about helping consumers at the pump. It’s about pumping up big oil’s profits.
VIDEO: The bill includes $622 billion in tax cuts, mostly for multinational corporations.
One tax provision allows companies to defer taxes on income earned abroad.
“[This] effectively legalizes foreign tax havens.” — David Dayen, New Republic
The Cyber Information Sharing Act (CISA) was snuck in, which increases information sharing between tech companies and the government.
RON WYDEN (D-OR): And the Department of Homeland Security added that the bill, again and I quote, could sweep away important privacy protections.
VIDEO: Country of Origin Labels (COOL) on meat were repealed.
“This is a holiday gift to the meatpacking industry from Congress.” — Food and Water Watch.
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