[Congressional Record Volume 161, Number 79 (Thursday, May 21, 2015)]
[Extensions of Remarks]
[Page E770]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           AMERICAN RESEARCH AND COMPETITIVENESS ACT OF 2015

                                 ______
                                 

                               speech of

                        HON. CAROLYN B. MALONEY

                              of new york

                    in the house of representatives

                        Wednesday, May 20, 2015

  Mrs. CAROLYN B. MALONEY of New York. Mr. Speaker, I rise today in 
opposition to H.R. 880--another unpaid-for permanent extension of an 
expired tax provision offered by the Majority.
  I am privileged to represent many of our country's leading research 
institutions and innovative researchers and entrepreneurs in New York's 
12th District. Like many of my colleagues, I believe that a permanent 
R&D credit will support critical research and create high-skilled, 
high-paying jobs throughout the country. This bill makes important 
improvements to the credit, and I hope to work with my colleagues on 
both sides of the aisle to provide incentives for businesses to invest 
in research and development.
  However, I cannot support policies that extend certain tax provisions 
while other critical tax credits, like those for higher education and 
the Earned Income Tax Credit, face an uncertain future. All told, the 
Majority's slate of unpaid-for permanent tax extensions would increase 
the deficit by nearly $600 billion, all while its budget proposes 
severe cuts to education, transportation, and critical safety net 
programs in the name of deficit reduction. Americans are not fooled by 
this double standard, and Congress should reject this disingenuous 
approach to tax policy.

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