[Congressional Record Volume 170, Number 19 (Thursday, February 1, 2024)]
[Extensions of Remarks]
[Page E105]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        TAX RELIEF FOR AMERICAN FAMILIES AND WORKERS ACT OF 2024

                                 ______
                                 

                               speech of

                          HON. BETTY McCOLLUM

                              of minnesota

                    in the house of representatives

                      Wednesday, January 31, 2024

  Ms. McCOLLUM. Mr. Speaker, I rise in opposition to H.R. 7024, the Tax 
Relief for American Families and Workers Act of 2024. Mr. Speaker, this 
bill is a wolf in sheep's clothing.
  Let's be clear about what this tax deal is: just another Republican 
handout to big corporations and oil companies. Congressional 
Republicans are claiming victory with this bill, touting the $600 
billion in tax cuts for corporations if the corporate tax cuts in this 
bill are made permanent.
  The 2017 Trrump-GOP tax scam has added $1.9 trillion to the deficit. 
Republicans voted to raise taxes on the middle class to pay for their 
deficit-exploding giveaway to big corporations and billionaires. Thanks 
to the Trump-GOP tax scam, big corporations and oil companies have 
enjoyed lower taxes and have taken advantage of tax credits. Big 
corporations like Amazon, Google, Facebook, and Marathon Petroleum 
already pay far too little in taxes each year. H.R. 7024 would give 
them access to even more tax cuts. Congress should be ensuring big 
corporations and oil companies pay their fair share rather than helping 
them get a leg up.
  I support the Child Tax Credit and voted for it in the American 
Rescue Plan, but H.R. 7024 is eighty-two pages long and only three 
pages pertain to the credit. In those three pages, the Child Tax Credit 
provisions fail to replicate the success of the improved Child Tax 
Credit provided to families by the American Rescue Plan. Under H.R. 
7024, fewer families will be eligible, and the credit will be received 
as an annual refund. We heard from families who said the monthly 
payments are what made this credit so helpful to them in 2021 to pay 
their monthly bills, keep healthy and nutritious food on the table, and 
manage a mortgage or rent. I look forward to working with NETWORK, Save 
the Children, the Minnesota Council of Nonprofits, and other advocacy 
groups to put forward a tax bill that accomplishes all our goals with 
the Child Tax Credit.
  I strongly opposed the Trump-GOP tax scam when it was rushed through 
Congress in 2017. Donald Trump and the GOP promised increased tax 
revenues to offset the massive debt they created, but it never 
materialized. Instead, the tax scam ballooned the deficit. I've been 
outspoken in the past about how harmful those tax cuts were, and I 
believe H.R. 7024 is another Republican scam to give big corporations a 
break while the rest of America picks up the tab. I urge my colleagues 
to reject H.R. 7024.

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