[Congressional Record Volume 164, Number 159 (Wednesday, September 26, 2018)]
[House]
[Page H8891]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   PERIPHERAL ARTERY DISEASE PATIENTS

  The SPEAKER pro tempore. The Chair recognizes the gentleman from 
Minnesota (Mr. Paulsen) for 5 minutes.
  Mr. PAULSEN. Mr. Speaker, thousands of unnecessary amputations are 
conducted each and every year as a treatment for those who have 
peripheral artery disease.
  PAD patients suffer from poor blood circulation, which often results 
in amputation, higher mortality rates, and the other complications that 
come with it. It doesn't have to be this way.

                              {time}  1015

  Minnesota is the epicenter for groundbreaking innovation in new PAD 
treatments. Dr. Osama Ibrahim of Minneapolis' North Memorial Hospital 
is helping spread the word about revascularizations instead of 
amputations. The University of Minnesota and the Mayo Clinic are also 
at the forefront of these new procedures.
  I am working now with Congressman  Donald Payne to raise PAD 
awareness, increase screening for at-risk patients, and improve access 
to care to different therapies so patients don't have to undergo 
unnecessary amputations. This means better healthcare outcomes, as well 
as a higher quality of life for thousands of Americans coping with PAD 
every year.


                  Support the American Innovation Act

  Mr. PAULSEN. Mr. Speaker, I speak in favor of H.R. 6756, the American 
Innovation Act, which will spur innovation by helping startups survive 
the first few years of their existence and access the capital they need 
to grow and expand.
  This bill also includes a key provision that I authored to help 
entrepreneurs not only survive, but thrive. Entrepreneurs and startups 
are a key source of innovation and job creation, particularly in 
Minnesota.
  But the tax code today puts them at a disadvantage. It makes it 
harder for them to access new capital, and it disadvantages them as 
they struggle through the hardest part of their existence, which is the 
very first few years of profitability. This bill changes that. It 
brings tax regulations for governing startups now into the 21st century 
so that entrepreneurs and capital intensive sectors, like medical 
devices, can make the necessary investments in research, development, 
and manufacturing to grow and hire more people.
  Ultimately, this means more jobs and more flexibility for Minnesota 
entrepreneurs to not just come up with the next big idea, but to 
actually make it a reality. I hope my colleagues will join me in 
supporting this legislation.


                     Support the Family Savings Act

  Mr. PAULSEN. Mr. Speaker, I rise in support of H.R. 6757, the Family 
Savings Act, which includes a provision that I authored that improves 
529 college savings plans.
  Now, we all know that 529 college savings plans are a popular saving 
tool to help families save for college costs tax free. But today, 
student loan payments are not a qualified expense. Withdrawing any 
funds from the 529 for any other reason results in those funds being 
taxed as ordinary income, as well as a 10 percent penalty.
  That is why I authored legislation to solve and address this problem, 
and it was included in the Family Savings Act. By expanding the list of 
529 qualified expenses to also include student loan payments, this will 
allow a 529 savings plan to be used to pay up to $10,000 in student 
loans. It will certainly help make it easier now to pay off loans and 
mitigate the anxiety that comes for a new graduate who is starting a 
career.

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