[Congressional Record Volume 153, Number 175 (Tuesday, November 13, 2007)]
[Extensions of Remarks]
[Pages E2392-E2393]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 PROVIDING FOR CONSIDERATION OF H.R. 3996, TEMPORARY TAX RELIEF ACT OF 
                                  2007

                                 ______
                                 

                               speech of

                           HON. WALLY HERGER

                             of california

                    in the house of representatives

                        Friday, November 9, 2007

  Mr. HERGER. Mr. Speaker, although I have serious concerns with the 
underlying bill, H.R. 3996, there are several provisions of this bill 
that extend necessary business and individual tax relief set to expire 
this year.
  One provision in H.R. 3996 would extend important tax relief for 
individuals who choose to make distributions from their Individual 
Retirement Accounts, IRAs, to charities. Charitable IRA rollovers 
greatly help the work of worthy charities, and it is important that 
this tool for giving remains available to taxpayers. I have introduced 
stand-alone legislation with Congressman Earl Pomeroy of North Dakota, 
which has 90 cosponsors that would broaden the charitable IRA rollover 
rule to allow distributions to donor-advised funds and would strengthen 
other aspects of the present-law provision. I remain committed to the 
enactment of the improvements included in the Public Good IRA Rollover 
Act, H.R. 1419, that would work to encourage billions in new giving to 
those who need it most.
  This legislation also includes a provision that extends the Research 
and Development Tax Credit for an additional year. Firms in California 
already conduct nearly one-quarter of all our Nation's R&D activities 
by dollar value, making this credit critical to California's leadership 
in high tech innovation. I am a strong supporter of this provision, and 
am a cosponsor of stand alone legislation that would make important 
improvements in the R&D credit and extend it permanently, H.R. 2138.
  H.R. 3996 also includes a 1-year delay of the 3 percent withholding 
burden on contractors that work with governments, which is scheduled to 
take effect starting in 2011. Earlier this year I introduced 
legislation with Representative Kendrick Meek of Florida that would do 
away with this added withholding requirement before it starts. 
Together, we have

[[Page E2393]]

worked to inform other representatives about the potentially damaging 
effects of this new cost of doing business with governments, and our 
legislation has attracted over 230 cosponsors, H.R. 1023.
  Despite my opposition to the overarching legislation, I sincerely 
hope members of both parties can continue to work in a bipartisan 
fashion--as we have done on these three issues to-date. It is important 
that we move ahead with this important individual and business tax 
relief through legislation members from both parties can support, and 
not in the context of controversial new tax increases on the American 
people.

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