Who knew? Puerto Rico... it may be the Pinocchio state (i.e. walks and talks like a state, but is still waiting for the Blue Fairy to turn it into a real one), yet someone was still able to slip a $192 earmark in the United States economic bail out bill for Puerto Rican rum producers.
Sounds like there are some open bar parties at the offices of rum executives in Puerto Rico.
I wonder how much more Puerto Rico would get if it were a real, full blood state? Did they send anything to Cuba or the Dominican Republic?
Puerto Rico could have used money for many reasons. Flood damage? Highway construction/repair? But, rum production?
I'll let those of you more savvy than I on Puerto Rican economics describe why this was necessary, and who will receive the ultimate benefit from this huge rebate of excise tax.
Extending an expired provision that gives Puerto Rico and the Virgin Islands a rebate against excise taxes charged on imported rum. The rebate, at $13.50 per proof gallon, helps finance local infrastructure projects. The cost is $192 million.
What's next? Maybe $200 million to Cuba if they agree to give us the secret formula for cigars and socialized health care?
Democrats and Republicans (including ear mark hating John McCain) voted in favor. George W Bush signed it into law. So get ready to party hard next weekend when rum prices drop. I hope next time they can slip a provision in to fund week-end check stops for drunk drivers... like the one that plowed into my relative's vehicle last week.
The Insider
