[Congressional Record Volume 150, Number 120 (Wednesday, September 29, 2004)]
[Extensions of Remarks]
[Pages E1721-E1722]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




CONFERENCE REPORT ON H.R. 1308, WORKING FAMILIES TAX RELIEF ACT OF 2004

                                 ______
                                 

                               speech of

                         HON. JAMES R. LANGEVIN

                            of rhode island

                    in the house of representatives

                      Thursday, September 23, 2004

  Mr. LANGEVIN. Mr. Speaker, I rise today in support of the conference 
report for H.R. 1308, the Working Families Tax Relief Act. While I 
would have preferred a revenue neutral version of this bill that did 
not add to the national debt, this legislation does deliver continued 
tax relief for working families at a time when assistance is greatly 
needed.
  Most importantly, this bill extends, through 2010, three family-
friendly tax cuts scheduled to expire at the end of the year. These 
policies include continuation of the expanded 10 percent tax bracket, 
extension of marriage penalty relief, and expansion of the child tax 
credit. Without Congressional action, every American subject to the 
income tax, especially families with children, would face higher taxes 
next year. A tax increase is the last thing that my constituents need 
during these difficult economic times as Rhode Island's unemployment 
rate continues to hover above the national average.
  This bill finally allows members of the military to use combat pay to 
qualify for the child tax credit. I have been pushing for this long 
overdue provision for more than a year, and I am pleased that Rhode 
Island servicemembers now will receive the credit they deserve while 
they risk their lives for us every day.
  In addition, H.R. 1308 extends Alternative Minimum Tax relief, 
continues tax credits for renewable energy, and renews the Research and 
Development Tax Credit. These extenders serve a wide range of causes 
including promoting economic development and reducing our dependence on 
foreign oil.
  The bill is far from perfect. Much of the cost of this legislation 
comes from the expansion of the child tax credit to those who earn more 
than $200,000 per year. However, the 9.2 million children in families 
earning under $11,000 will still not receive the $1,000 child tax 
credit that almost every other wealthier family will receive. There is 
still time to include these families, and I urge my colleagues to 
support tax relief for all Americans.

[[Page E1722]]

  I am committed to sensible tax relief for the middle class, but I am 
also concerned about our national debt. With a national debt of more 
than $7.3 trillion, each additional dollar the government spends or 
uses for a tax cut must be paid back by future generations. This bill 
adds nearly $150 billion to the debt over ten years. I would have 
preferred that these tax cut extenders be offset by either reducing the 
tax cuts for the tiny fractions of Americans who earn more than $1 
million per year or by cutting federal spending. Unfortunately, the 
majority has done neither. This is not fiscal leadership, and this 
explains why a record surplus of just 4 years ago has turned into a 
record deficit today.
  I encourage my colleagues to join me in supporting H.R. 1308, the 
Working Families Tax Relief Act to provide needed relief to Rhode 
Islanders. However, I also urge a more fiscally responsible approach 
when dealing with tax cuts and spending to ensure future generations 
are not left with the bill.

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