[Congressional Record Volume 160, Number 147 (Thursday, December 4, 2014)]
[Extensions of Remarks]
[Page E1734]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  TAX INCREASE PREVENTION ACT OF 2014

                                 ______
                                 

                               speech of

                         HON. SUZANNE BONAMICI

                               of oregon

                    in the house of representatives

                      Wednesday, December 3, 2014

  Ms. BONAMICI. Mr. Speaker, as the 113th Congress draws to a close, 
American businesses and families are looking to us with hopes for a new 
spirit of bipartisanship and decisive action. We should take this 
opportunity to find common ground and give certainty to our 
constituents instead of continuing to postpone difficult choices and 
leaving the tough decisions for next year.
  The bill before us today, H.R. 5771, extends several important tax 
provisions, many of which I have actively supported over the last two 
years. But by failing to extend these provisions beyond 2014, we have 
missed the chance to provide much-needed certainty to our constituents. 
For this reason I am reluctantly supporting H.R. 5771, but also calling 
on my colleagues to embrace long-term solutions as we consider these 
important issues going forward.
  The production tax credit for renewable energy has been key to the 
growth of an important industry in my home state of Oregon and in this 
country, and ending it in 2014 jeopardizes new investments in our 
communities and job creation opportunities. H.R. 5771 extends the 
production tax credit, but the short-term nature of the extension makes 
it difficult for the wind industry and others to meaningfully plan 
future projects. This does nothing to end our dependence on fossil 
fuels from other nations, and it doesn't create any incentives for 
innovative clean energy companies to hire additional employees.
  H.R. 5771 does provide some relief to underwater homeowners who have 
had a portion of their mortgage debt forgiven, and that is a provision 
that comes as a great relief to many of our constituents. But still 
others will wonder what to expect in tax year 2015 and beyond, thus 
adding to the financial instability that prevents families from feeling 
the benefits of the slowly developing economic recovery.
  Making businesses and families in our districts wait until the end of 
the year to find out whether we will grant a retroactive extension of 
many tax provisions that affect their returns and their finances is 
unacceptable. Governing by crisis must end now. Americans and 
Oregonians expect more from us, and they deserve more from us. H.R. 
5771 is a small step in the right direction, but Congress needs to do 
more and give our constituents the certainty they need to lead us to a 
robust economic recovery.

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