[Congressional Record Volume 160, Number 76 (Tuesday, May 20, 2014)]
[Extensions of Remarks]
[Page E779]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           AMERICAN RESEARCH AND COMPETITIVENESS ACT OF 2014

                                 ______
                                 

                               speech of

                         HON. SUZANNE BONAMICI

                               of oregon

                    in the house of representatives

                          Friday, May 9, 2014

  Ms. BONAMICI. Mr. Speaker, I rise in reluctant opposition to H.R. 
4438, a bill to extend permanently the research and development tax 
credit. This is not an issue that I take lightly because this tax 
provision enjoys broad support in my district. But once again, a policy 
that has long enjoyed bipartisan support and has real economic impact 
in districts across the country has fallen victim to politics. Rather 
than advancing a package of tax extenders that places the priorities of 
working families and underwater homeowners alongside those of our 
business community, we are considering legislation that singles out the 
interests of one group over another.
   Following the expiration of numerous important tax provisions at the 
end of last year, many constituents have contacted me to express their 
concerns about our inaction. From families who rely on the Earned 
Income Tax Credit to make ends meet, to renewable energy companies that 
will drastically scale back operations without the Production Tax 
Credit, to municipalities who use the New Markets Tax Credit to 
revitalize low-income areas, the scope of people and businesses that 
will suffer the consequences of inaction on a tax extenders package are 
too numerous to list here. To those who are looking to Congress for 
some indication that we are moving past political maneuvering, past the 
dysfunction that has characterized this body for too long, this bill is 
a step in the wrong direction.
   Beyond the frustration that is felt at elevating this tax provision 
over the others I have previously mentioned, my constituents will 
wonder why we can pass this legislation and add about $150 billion to 
the deficit, but we can't add a dime to extend emergency unemployment 
insurance benefits to millions of Americans. To advance this bill is an 
affront to the long-term unemployed who have been falling deeper into 
debt as Congress debates how it should pay for an extension of the 
vital benefits that could help keep them afloat while they continue to 
search for work.
   I support extending the tax credit for research and development. It 
is vital to promoting American manufacturing and supporting our 
country's innovative technology sector, which is exemplified by the 
work done by companies like Intel in my district. But I support 
extending this credit alongside a package of others that also benefit 
my State, and every State in the country. Congress should consider a 
comprehensive tax extenders package, and should do so without delay.

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