Tax bill loaded with special interest perks

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Decatur, Ill (WAND) – The tax reform bill passed by the U.S. Senate early Saturday is more than just tax cuts.  It is loaded with special interest goodies.

Under the bill oil and gas drilling will be allowed in the Alaska Artic National Wildlife Refuge.  The proposal was pushed by Senator Lisa Murkowski, (R) Alaska, and will allow oil and gas drilling on a 1.5 million acre coastal plain.

Parents will be able to use tax-free college savings plans, or 529s, for a child in utero.  A child in utero would be an unborn child.  This portion of the bill has been pushed by the pro-life movement.

The college savings plans may also be opened up to K-12 private school tuition and in some cases home schooling.

The tax plan will repeal the Johnson Amendment.  The amendment bans non-profit groups from engaging in political activism.  Religious conservatives have wanted churches to have the ability to back political candidates and issues.

There are tax cuts for the beer, wine and liquor industries.  Craft breweries will also benefit from the cuts. 

Private jet owners will not be required to pay certain management fees to store their aircraft.

The first $11 million of assets are exempt from the estate tax.  The bill will double the exemption to $22 million basically benefiting the nations richest citizens.

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