[Congressional Record Volume 150, Number 68 (Friday, May 14, 2004)]
[Extensions of Remarks]
[Page E869]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




  PROVIDING FOR CONSIDERATION OF H.R. 4275, PERMANENT EXTENSION OF 10-
               PERCENT INDIVIDUAL INCOME TAX RATE BRACKET

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                               speech of

                            HON. JOHN LINDER

                               of georgia

                    in the house of representatives

                        Wednesday, May 12, 2004

  Mr. LINDER. Mr. Speaker, I rise in support of this modified, closed 
rule, and thank my friend and colleague from the Rules Committee, Mr. 
Sessions, for yielding me this time.
  Mr. Speaker, this is a fair and traditional rule for legislation that 
amends the Internal Revenue Code, and I am pleased that the House will 
have the opportunity to consider the merits of the underlying 
legislation, H.R. 4275, as well as an amendment in the nature of a 
substitute from the Ranking Member of the Ways and Means Committee, Mr. 
Rangel.
  Mr. Speaker, this rule before the House, H. Res. 637, will give 
Members of the House an opportunity to consider legislation that will 
spur economic growth and save taxpayers money by providing tax relief 
for working Americans.
  I also want to commend Mr. Sessions, my friend and colleague on the 
Rules Committee, for introducing this important legislation. H.R. 4275 
would permanently preserve the 10-percent income tax bracket, which was 
created in the 2001 Bush tax cut in order to reduce the burden on 
working Americans. As a result of this tax relief, currently, the first 
$7,000 of individuals and $14,000 of couples' taxable income is taxed 
at 10-percent instead of 15-percent.
  If we fail to enact H.R. 4275, tax brackets will revert to their pre-
2001 levels at the end of this year. For example, the ten percent 
bracket's income limits would return to $6,000 for individuals and 
$12,000 for couples in 2005, causing 73 million working Americans to 
pay higher taxes next year.
  Additionally, the ten percent bracket would disappear completely 
after 2010, and taxpayers could face an average tax increase of $2,400 
over the next decade.
  Lastly, over 24 million low-income workers will be pushed into a 
higher tax bracket. Therefore, compared to 2004 levels, many 
individuals and businesses will face higher federal taxes if we fail to 
enact H.R. 4275.
  Mr. Speaker, I urge my colleagues to join me in supporting this rule 
so that we may proceed to debate the underlying legislation.

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