[Congressional Record (Bound Edition), Volume 149 (2003), Part 11]
[House]
[Page 14659]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            CHILD TAX CREDIT

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Texas (Mr. Burgess) is recognized for 5 minutes.
  Mr. BURGESS. Mr. Speaker, I rise tonight to discuss the refundable 
child tax credit that we voted on earlier this evening.
  I appreciate the remarks of my good friend and next-door neighbor 
from Texas, but, Mr. Speaker, I have to ask, how did we get here?
  Our friends on the other side of the aisle have characterized the 
recently passed Jobs and Growth Tax Act as ``misdirected'' and targeted 
to the wrong people. They say that in order to stimulate the economy we 
do not need to return the tax dollars to people who pay taxes.
  Well, in 2001, and, of course, I was not here then, but this House 
did pass a tax bill that did return tax dollars to people who do not 
pay taxes, but the stimulatory effect to the economy from that activity 
was minimal. So 2 weeks ago we did something different, and we passed 
the President's economic stimulus plan, which put tax dollars back in 
the hands of the people who make our economy go. The other side 
complained about the deficit again, and yet this week they advocated 
extending the refundable child credit another $3.5 billion.
  Mr. Speaker, the fact remains that small businesses are becoming more 
and more important to the Nation's overall business activity. They 
create the majority of new jobs and account for half of the economy's 
private output.
  The jobs and growth plan gives small businesses the ability to 
immediately expense up to $100,000, instead of the current write-off of 
$25,000 in capital purchases. This encourages small businesses to buy 
technology, machinery and other equipment that they need to expand 
their business and meet the needs of their consumers.
  The jobs and growth plan increased the child tax credit and 
eliminated the marriage penalty and exempted another 3.8 million 
workers from Federal tax liability. And low-income families in 
particular benefited from this economic growth and tax relief package 
through a number of provisions.
  We accelerated the expansion of the 10 percent bracket. This means 
workers can earn more before they get moved into the 15 or 25 percent 
tax brackets.
  Our jobs and growth program eliminated the marriage penalty.
  We also accelerated the President's 2001 tax cut provision to 
increase the child tax credit to $1,000. Accelerating the expansion of 
the child tax credit will provide 26 million families with an average 
tax cut of $623. Obviously it means a great deal for a family of four, 
working to make ends meet each year.
  While I recently was surprised to learn that the Democratic Caucus 
was interested in passing additional tax relief, I am pleased to work 
with them to accomplish several things. I would like to see us 
eliminate the marriage penalty in the child tax credit.
  I would like to see us repeal the sunset included in the jobs and 
growth economic package to ensure that the child tax credit stays at 
$1,000 through 2010, not just through the next election year.
  I would like to reiterate with my good friend from Texas our 
commitment to the military tax relief provisions that passed this House 
in March. These provisions include the capital gains tax relief on home 
sales, tax-free death gratuity payments, and tax-free dependent care 
assistance for members of the military.
  In the future, Mr. Speaker, I look forward to working with my friend 
from Texas and our friends on the other side of the aisle on 
fundamental tax reform, including permanent elimination of the death 
tax. I also look forward to holding the line on the Federal deficit by 
controlling discretionary spending as we start this year's 
appropriations process.
  Mr. Speaker, in closing, I think it is time that we have to focus on 
the fact that we cannot any longer punish those who work hard, take 
risks and are successful, the small business entrepreneurs in our 
society. America's economic recovery depends on the jobs created by the 
success of that segment of the population.
  Mr. Speaker, our majority leader said it so well tonight: It is time 
for some of us not just to stand up for the cameras, but to stand up 
for America.

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