The Wall Street Journal has this dispatch today on the efforts of Majority Leader Harry Reid to bring the bacon-like-substance back to his home state of Nevada.
For the past few weeks, Mr. Reid has worked behind the scenes on a plan backed by a broad range of industries that would allow companies to pay lower tax rates when they refinance their debt. The provision is strongly backed by Las Vegas casinos, including MGM Mirage and Wynn Resorts Ltd. . . . Separately, Mr. Reid backs a complicated measure that would allow county officials in Nevada to reduce debt by refinancing construction at the Las Vegas airport with tax-preferred, private-activity bonds. In an open letter to fellow Nevada residents on his Web site, Mr. Reid, like other senators, makes it clear that bringing the bill’s spending home is his goal. “Putting our economy back on track is my top priority, and I look forward to working with President Obama to create meaningful solutions to Nevada’s problems,” he wrote.
But Reid is not alone; he just has more power:
Last week, Democratic Sen. Blanche Lincoln of Arkansas failed to win approval for an extension of tax incentives for her home-state timber industry. On Tuesday, California Democratic Sen. Barbara Boxer failed to win a majority for a provision backed by Silicon Valley high-technology firms and home-state drug companies that would have allowed them to bring overseas profits back to the U.S. at reduced tax rates. On Wednesday, Sen. Patty Murray (D., Wash.) fought to change the way transportation funds are doled out in a way that could benefit home-state interests. New York Democratic Sen. Charles Schumer this week sent a news release to constituents outlining his plan to direct millions in new federal funds to public-transportation projects in New York City. And Florida Democratic Sen. Bill Nelson angled to include tax incentives for citrus growers.