Maybe this is one of those changes in the editorial policy the PD announced last January, but a welcome editorial yesterday talks about the difference between effective tax credit policies and giveaways to lobbyists.
And the tax credit discussed is the Low Income Housing Credit. Normally, if you ask a conservative what the PD would say about a Low Income Housing Credit, they would tell you the PD said "more money, please." In this case, the conservative would be wrong.
Then the bill hit the Senate floor and became a Christmas tree loaded with tax goodies for a happy crowd of interest groups. Amendments added tax credits for movie producers, venture capital investors, alternative fuel pumps, buyers of ethanol and hybrid vehicles, contributors to Civil War sites, sellers of beef cattle and a host of others. The probable price tag has jumped to more than $97 million annually by the year 2010.
Some of these tax breaks are good. But clearly a tax credit bill shouldn't turn lawmakers into Santa Claus for every interest group with a lobbyist.
That's an encouraging sign. I think the PD is on the right track with their editorial policy change, and if they keep it up, conservatives may eventually start signing back up for the paper. Maybe.
