[Congressional Record Volume 161, Number 185 (Friday, December 18, 2015)]
[Extensions of Remarks]
[Page E1833]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    MILITARY CONSTRUCTION AND VETERANS AFFAIRS AND RELATED AGENCIES 
                        APPROPRIATIONS ACT, 2016

                                 ______
                                 

                               speech of

                          HON. JOHN B. LARSON

                             of connecticut

                    in the house of representatives

                      Thursday, December 17, 2015

  Mr. LARSON of Connecticut. Mr. Speaker, I rise today in support of 
the PATH Act. While this is not a perfect bill, I join with the 
President in supporting this legislation as it represents clear 
progress for the American people. This legislation will permanently 
continue critical tax breaks to aid children and working families. It 
will permanently extend key provisions like the R&D tax credit and 
Section 179 expensing that will help our small businesses and 
manufacturers grow jobs and strengthen the economy. This bipartisan 
bill moves us forward as a nation both in terms of the benefits it 
provides and the signal it sends that it is possible for Congress to 
break the gridlock that has unfortunately engulfed Washington for too 
long.
  I am particularly proud that the permanent extension of the R&D tax 
credit that I sponsored along with Chairman Kevin Brady was included in 
this legislation. The R&D tax credit is a driver of innovation and 
economic growth, and making it permanent will provide the certainty 
American companies need to make the long-term investments in our nation 
and in our workers for technologies that will keep our global economic 
edge. The R&D credit, along with a permanent extension of the Section 
179 expensing credit, will give businesses in Connecticut and across 
the country the stability they need in the tax code to move our economy 
forward.
  For children and working families, this legislation also offers a 
permanent extension of critical tax credits. The permanent extension of 
the Recovery Act enhancements of the EITC and CTC credits as well as 
the AOTC will ensure millions of working families across the country 
will continue to receive well-deserved tax breaks. Without this 
extension, by 2018, over 50 million individuals would have lost part or 
all of their credits. In Connecticut, 141,000 children in 42,000 
families would lose access to part or all of their EITC or CTC credits. 
These provisions are absolutely critical and without them, I would not 
have been able to support this agreement. I wholeheartedly agree with 
my colleagues who have argued that the CTC should be indexed for 
inflation and while it is unfortunate that indexing is not included in 
this agreement, I will continue to fight for its inclusion on bills 
moving forward.
  In addition, this bill includes other important provisions, including 
a permanent extension of a deduction for teachers who purchase supplies 
for their classrooms as well as critical charitable provisions such as 
a credit for the donation of food inventory and a provision that allows 
for tax-free distributions from IRAs for charitable purposes. It also 
incorporates other bills that will help with economic development, like 
the New Markets Tax credit, the low income housing tax credit, and 
legislation ensuring tax relief for another year for homeowners who 
have had part of their mortgage debt forgiven.
  Finally, I want to thank the negotiators for including a bill that I 
co-authored with Rep. Sam Johnson--the Wrongful Convictions Tax Relief 
Act, which ensures that compensation awards received by those who were 
wrongfully accused are not subjected to federal taxes on their awards. 
I first introduced the bill with Mr. Johnson in 2007 following the 
exoneration of James Tillman in Connecticut. I was proud to co-author 
this bill with Mr. Johnson, a true American hero, which rights a 
tremendous wrong in the tax code. Individuals who have been wrongfully 
accused have already suffered enough, so the notion that they would be 
taxed on the awards they receive as a result of their wrongful 
imprisonment is unconscionable. Once again, I thank the negotiators for 
including this common-sense bill in this package.
  On the whole, this bill will provide tremendous benefits for 
children, working families, and economic growth in our country. I 
support this bill and look forward to its passage.

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