#1 Priority – Tax-Free Toy Arrows12.29.2008
Remember in the news when all your government representatives had their panties in a wad about how they were scrambling to get a “bailout bill” prepared and passed? Well of all things most important to our country, they somehow managed to find time to slip section 503 into the Emergency Economic Stabilization Act of 2008:
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 sub-paragraph (B) as sub-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.
Wow, really? This is what you call emergency economic stabilization? Now I’m all for removing an excise tax from toy wooden arrows, but here…and now? Come on, folks.