Democrats are once again breaking their promise of government transparency, accountability and reform. Tucked away deep within the Farm Bill (H.R. 2419) is a special-interest earmark inserted by Senator Max Baucus (D-MT) for the “Qualified Forestry Bonds Program.” This program would provide federally funded-tax credit bonds, “Baucus Bonds,” for forest purchases that meet the following standards:
- The forest must be adjacent to U.S. Forest Service Land;
- Half of the parcel must be turned over to the U.S. Forest Service;
- It must include at least 40,000 total acres; and
- It must be subject to a “native fish habitat conservation plan approved by the United States Fish and Wildlife Service.”
Within the entire United States, only one land area qualifies for the earmark – a 1.6 million acre piece of land that stretches from Montana to Washington State, owned by the Plum Creek Timber Company. The Plum Creek Timber Company is attempting to sell the land to the “Nature Conservancy” – which the Washington Post exposed as the “world’s richest environmental group, amassing $3 billion in assets.” The earmark would allow the Nature Conservancy to claim a $250 million “tax refund,” providing incentive for the group to purchase the land from Plum Creek. The tax refund would be provided even though the Nature Conservancy is a non-profit group that does not pay taxes.
According to the FEC website, employees of Plum Creek Timber have donated nearly $17,000 to Senator Baucus’ war chest during this election cycle alone. Senator Baucus not only included “Baucus Bonds” in the Farm Bill, he also put them in last year’s energy bill – despite the fact that this special interest earmark would have nothing to do with agriculture or energy. The “Baucus Bonds” would provide $250 million in taxpayer funds to help provide incentive for the richest environmental group in the world to buy land from donors of Senator Baucus.
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Then Minority Leader Nancy Pelosi
“There has to be transparency. I’d just as soon do away with all (earmarks), but that probably isn’t realistic.” “You can’t have bridges to nowhere for America’s children to pay for.”
(USA Today, 11/12/2006)
Then DCCC Chairman Rahm Emanuel
”For far too long, business as usual has involved individual members dolling out favors in appropriations and other bills through earmarks. The American people deserve to know more than who sponsored special interest legislation. They deserve earmark reform that puts an end to special interest earmarking, and provides solutions to prevent the practice of earmark abuse.”
(Emanuel Press Release, 9/12/2006)
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While the Democrats are back up to their old tricks, House Republicans are saying ‘enough is enough’ and standing with American taxpayers. It is time to stop putting the needs of special interests above those of American families who are struggling with raising healthcare, mortgages and gas costs.
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“In response to this blatant rent-seeking, Rep. Eric Cantor (R-VA), is proposing a non-binding motion to remove the forestry bond provision from the farm bill….
….However green it may seem, this provision is little more than a massive corporate subsidy for a single company. Cantor called the forestry bond program “a Bridge to Nowhere in the Farm Bill,” referring to the infamous Alaska bridge that had been inserted into the 2005 transportation bill. “If it’s a legitimate program to preserve lands adjacent to federal forests, fine,” says Cantor. “But to engage in backroom deals designed to benefit one landowner? That’s exactly why people distrust Congress and feel that Washington is broken.”
(National Review Online, 5/12/2008)
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Will Speaker Pelosi and Caucus Chairman Emanuel continue to abandon their promises to
American Families?
SAY NO TO SPECIAL INTEREST "BAUCUS BONDS."
