[Congressional Record Volume 151, Number 1 (Tuesday, January 4, 2005)]
[Extensions of Remarks]
[Page E18]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     REINTRODUCTION OF LEGISLATION

                                 ______
                                 

                           HON. CLIFF STEARNS

                               of florida

                    in the house of representatives

                        Tuesday, January 4, 2005

  Mr. STEARNS. Mr. Speaker, I am pleased on this first day of the 109th 
Congress to introduce several pieces of legislation that I have been 
pursuing over the years, and for which I will continue to advocate 
these next two years.
  First, I am excited to again introduce legislation to help all 
American savers. My legislation, the Simple Savings Tax Relief Act of 
2005, simply eliminates the taxation of interest earned in savings 
accounts, such as passbook savings accounts or bank certificates of 
deposit. I think at least some of this interest should be tax-free, as 
we have been working towards for other forms of non-earned income. This 
legislation would end a punitive tax, especially assist low and middle-
income earners, and ultimately contribute toward the goal of 
encouraging individual responsibility and taking charge of one's own 
financial destiny.
  Next, for years I have authored legislation to repeal the 2 percent 
excise tax on private foundations. The United States is blessed with a 
deep spirit of philanthropy, and charitable organizations serve the 
interest of both the individual and the community. Under current law, 
however, not-for-profit private foundations generally must pay to the 
IRS a 2 percent excise tax on their net investment income, which 
diverts from the purposes for which these foundations were founded. 
Optimistically, this body passed a reduction of this charitable 
impediment to 1 percent in the 108th (H.R. 7), but as it failed to 
become law, I am reintroducing this legislation and we shall try again.
  Next, I am pleased to again sponsor the Health Care Tax Deduction Act 
of 2005. This would allow deductions for amounts paid for health 
insurance premiums and unreimbursed prescription drugs. This would 
provide much-needed relief to individuals struggling with the high cost 
of health insurance and prescription drugs through a tax deduction, and 
tax parity with those of us who have employer-provided tax-deductible 
health insurance. Expansively, this benefit extends to all IRS-defined 
health insurance premiums such as an HMO, PPO, a traditional indemnity 
plan, a new HSA, and also long-term care premiums. Right now, under the 
current tax code, in order to claim health care expenses individuals 
must file an itemized tax return. My bill would simplify and extend 
this tax preference for all filers.
  I also am reintroducing the Allied Health Reinvestment Act of 2005, 
along with my friend Dr. Strickland from Ohio. This important 
legislation offers incentives via scholarships and loans to 
encourage students and faculty to enter the essential but undersupplied 
allied health professions, such as physical, occupational, and speech 
rehabilitation, and medical and radiological technologists to name a 
few.

  Also, with an eye towards the value of human life, I reintroduce my 
Human Cloning Research Prohibition Act, which restricts federal funding 
and encourages other nations to do so as well.
  Finally, I am pleased to reintroduce a resolution supporting the 
goals and ideals of establishing a Chronic Obstructive Pulmonary 
Disease (COPD) awareness month. I do this again with my friend Mr. 
Lewis of Georgia. In past Congresses, this bill has had tremendous 
support from Members and from the U.S. COPD Coalition, which comprises 
the patient and provider community. The House passed this legislation 
in the summer of 2003, and we started a bicameral Caucus in the winter 
of 2004 to advance our efforts. COPD is an umbrella term used to 
describe the airflow obstruction associated mainly with emphysema and 
chronic bronchitis. This is a debilitating disease, that is currently 
the nation's fourth leading cause of death, and I am proud to bring 
awareness to COPD.
  I look forward to working with my colleagues on all these important 
pieces of business for the nation.

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