[Congressional Record Volume 170, Number 21 (Tuesday, February 6, 2024)]
[Extensions of Remarks]
[Page E117]
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. HAROLD ROGERS

                              of kentucky

                    in the house of representatives

                      Wednesday, January 31, 2024

  Mr. ROGERS of Kentucky. Mr. Speaker, I share my colleagues' support 
of H.R. 7024, the Tax Relief for American Families and Workers Act. 
This bill is pro-growth, pro-small business, pro-family, and will truly 
help our people in southern and eastern Kentucky.
  I want to first point out that this bill will help folks in my 
district who are still recovering from the devastating flooding that we 
endured in 2021 and 2022. The recovery process has been long and 
difficult, and this bill takes important steps to make it easier for 
flood survivors to deduct their losses by eliminating minimum loss 
requirements and not penalizing individuals for compensation they 
received. Our people need all the help they can get, and this bill will 
help us move forward and build back stronger than ever.
  This bill will also help our families struggling with the lingering 
impact of inflated high prices by expanding access to the child tax 
credit, eliminating the penalty for larger families, and ensuring that 
the tax credit is adjusted for inflation, so this benefit isn't reduced 
over time. This will truly make a difference for the people of 
Kentucky's rural Appalachian region.
  This tax relief bill will also boost our economy, jumpstart 
innovation by allowing businesses to deduct research and development 
costs immediately, which will enable us to always be at the forefront 
of the world economy. It will also help small businesses by 
incentivizing capital investments, enabling them to boost their growth 
and increase productivity. Finally, this bill eliminates wasteful COVID 
era spending by accelerating the deadline for backdated claims under 
the employee retention credit.
  This credit system has experienced rampant fraud and abuse, and its 
elimination will save hardworking Americans taxpayer dollars.
  I am proud to support this legislation, and urge the Senate to 
consider it quickly to provide much-needed tax relief in southern and 
eastern Kentucky and across our great Nation.

                          ____________________