Power And Dollar

What Is The Price Per Vote To Pass The Bailout Bill?

CNN says more banks are likely to fall.  It seems like that 700B will get plenty of asset to buy.  Now, how much did the additional votes cost to get the bill?

 

Taxpayers For Common Sense compiles a list of 15 pet projects within the bailout bill ().  It would be difficult to determine which provision actually got tucked into the bill to exchange for votes.  However, we can see where the most direct beneficiary of the provisions and see the incentives of the votes, especially the switch votes.  

 

Of the 15 listed there, 10 of them are costed out.  They total price tag is $26,396 M.  

There were 60 switch votes: 58 No-to-Yes, 1 Abstain-to-Yes, 1 No-to-Yes.

 

If you cross out the direct beneficiary of the provisions listed in the website and plus 2 guesses I have for the research provision (301) and racetrack provision (317), then you get the table below:

 

Provision

Cost

Votes

Cost/Vote

States

601

3300

1

3300

OR, ID

301

19000

9

2111

TX, IL, WA

201 Sales Tax Deduction

3300

7

471

TX, FL, WA, WY, NV

325

148

1

148

NY

502

478

7

68

CA

317

100

3

33

MI

211

10

1

10

OR

503

2

1

2

OR

602

9

7

1

OH, PA, KY, VA

504

49

0

 

AK

 

This is a total of $26.4B for 30 votes (some of these votes above are the same votes).  This is a total of $890M/vote.  These 30 votes cover 51% of all swtiched votes.

 

The famous archery provision is provision 503.  That provision, jointly with 211, gave the bailout bill 1 vote.  Together, those 2 provisions cost $12M.  The interesting thing is that the House Representative who district covers the biggest beneficiary company Rose City Archery, which is located Mytle Point of Oregon, voted against the bill twice.  The original House sponsor is actually Representative Kind from WI (Yes twice).  By far, the most cost effective provision is 602 (Transfer to abandoned mine reclamation fund).  $9M for 7 votes, $1.3M per vote. 

 

The most expensive provision is 301, $19B.  I only identified TX, IL, WA.  However, I am sure there are more states which would be benefited because of it.  This one so far got 9 votes (and very likely more). 

 

The most cost ineffective is 601, $3.3B for 1 vote.  It benefits OR and ID.  However, ID completely voted against the bill.  I guess they did not exactly want the money. 

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October 7, 2008 - Posted by | activism, advocacy, Current Events, Democrats, economics, election, Election 2008, John McCain, mccain, obama, Palin, politics, Regulation, Republican, wordpress-political-blogs

1 Comment »

  1. […] Taxpayers For Common Sense compiles a list of 15 pet projects within the bailout bill (). It would be difficult to determine which provision actually got tucked into the bill to exchange for votes. However, we can see where the most …[Continue Reading] […]

    Pingback by Bailout » Blog Archive » What is the Price Per Vote To Pass the Bailout Bill? | October 7, 2008 | Reply


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