Gotta Keep The Gravy Train Going

The House voted to limit no-bid contracts, 347-73:

The House voted to limit no-bid federal contracts Thursday, alleging abuses and citing huge losses in contracts for Katrina recovery and Iraq reconstruction.

The Accountability in Contracting Act was the last of five open government bills the House passed this week under new Democratic leaders critical of what they say has been the closed and secretive nature of the Bush administration.

Of course the White House opposes the bill. Gotta keep that gravy train going for the likes of Halliburton, which incidentally is moving to Dubai for potentially tax beneficial reasons:

U.S. companies do not have to pay domestic income taxes on earnings of a foreign subsidiary until they decide to bring the money back into this country, a process known as repatriation. Dubai has no corporate income tax, a big advantage compared with the 35% corporations pay on earnings ay home.

And U.S. companies typically do not pay U.S. payroll taxes on their overseas workers.
Terrence Chorvat, an associate professor in international tax law at George Mason University, says those tax advantages will help if the company grows its business in Dubai.

Such a perfect symbiotic relationship the GOP has with its corporate benefactors, don't you think?



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