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Obama Stimulus Package to Include Tax Break for Movies

Thinking of investing in a big-budget Hollywood movie but afraid to take the financial risk? Well the Obama administration’s $900 billion stimulus package could include a tax break for you. According to a list put out by House Republican leaders tonight, the massive – and growing – bill includes a $246 million tax break for […]

Thinking of investing in a big-budget Hollywood movie but afraid to take the financial risk? Well the Obama administration’s $900 billion stimulus package could include a tax break for you.

According to a list put out by House Republican leaders tonight, the massive – and growing – bill includes a $246 million tax break for Hollywood movie investors in big budget movie projects over an 11-year period.

Apparently Republicans think that digital conversion is wasteful spending too. By the way, House Speaker Nancy Pelosi (D-S.F.) is planning to bring to the floor, as early as Wednesday, a bill delaying conversion until June – a measure that fell short of a two-thirds vote last week but should sail through on a simple majority vote this week.

As the political battles intensify over one of the largest spending bills in recent years, here’s the GOP’s list of what it calls pork.

• $2 billion earmark to re-start FutureGen, a near-zero emissions coal power plant in Illinois that the Department of Energy defunded last year because it said the project was inefficient.
• A $246 million tax break for Hollywood movie producers to buy motion picture film.
• $650 million for the digital television converter box coupon program.
• $88 million for the Coast Guard to design a new polar icebreaker (arctic ship).
• $448 million for constructing the Department of Homeland Security headquarters.
• $248 million for furniture at the new Homeland Security headquarters.
• $600 million to buy hybrid vehicles for federal employees.
• $400 million for the Centers for Disease Control to screen and prevent STD’s.
• $1.4 billion for rural waste disposal programs.
• $125 million for the Washington sewer system.
• $150 million for Smithsonian museum facilities.
• $1 billion for the 2010 Census, which has a projected cost overrun of $3 billion.
• $75 million for "smoking cessation activities."
• $200 million for public computer centers at community colleges.
• $75 million for salaries of employees at the FBI.
• $25 million for tribal alcohol and substance abuse reduction.
• $500 million for flood reduction projects on the Mississippi River.
• $10 million to inspect canals in urban areas.
• $6 billion to turn federal buildings into "green" buildings.
• $500 million for state and local fire stations.
• $650 million for wild land fire management on forest service lands.
• $1.2 billion for "youth activities," including youth summer job programs.
• $88 million for renovating the headquarters of the Public Health Service.
• $412 million for CDC buildings and property.
• $500 million for building and repairing National Institutes of Health facilities in Bethesda, Maryland.
• $160 million for "paid volunteers" at the Corporation for National and Community Service.
• $5.5 million for "energy efficiency initiatives" at the Department of Veterans Affairs National Cemetery Administration.
• $850 million for Amtrak.
• $100 million for reducing the hazard of lead-based paint.
• $75 million to construct a "security training" facility for State Department Security officers when they can be trained at existing facilities of other agencies.
• $110 million to the Farm Service Agency to upgrade computer systems.
• $200 million in funding for the lease of alternative energy vehicles for use on military installations.