[Congressional Record (Bound Edition), Volume 161 (2015), Part 15]
[Extensions of Remarks]
[Pages 21530-21531]
[From the U.S. Government Publishing Office, www.gpo.gov]




            PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015

                                 ______
                                 

                          HON. TERRI A. SEWELL

                               of alabama

                    in the house of representatives

                      Thursday, December 17, 2015

  Ms. SEWELL of Alabama. Mr. Speaker, today I rise to express my strong 
concerns for the ``Protecting Americans from Tax Hikes Act of 2015.'' I 
want to commend Ranking Member Levin  and the Democratic leadership for 
their strong, unwavering support for hard-working families across our 
country during these difficult negotiations for a comprehensive tax 
extenders package. While I support a strong tax policy that provides 
certainty to individuals and American businesses, I have a number of 
concerns with respect to the final provisions of the package and the 
ultimate cost of the bill.

[[Page 21531]]

  Our nation's tax code should continue to evolve in order to reflect 
and meet the challenges facing modern businesses. It should also create 
opportunities for growth, without undermining critical social programs 
that benefit all Americans.
  This package includes several provisions I strongly support, 
including permanent expansions of the earned income tax credit, the 
child tax credit, and the American opportunity tax credit. The package 
also provides a two-year moratorium on the medical device tax and 
extends the work opportunity tax credit to help employers that hire 
Americans who have faced significant barriers to employment. This bill 
also provides incentives to individuals for charitable contributions 
and for businesses to continue to invest in critical research and 
development.
  However as with most legislation, these tax cuts and extenders have a 
huge price tag. The Joint Committee on Taxation (JCT) estimates that 
the provisions would reduce net revenues, and thereby increase 
deficits, by a total of $622 billion over 10 years. I am deeply 
concerned that passing this tax extenders package without offsetting 
its cost would greatly undermine our ability to make key discretionary 
investments in the future that would hinder job creation, and lessen 
opportunities that make the American dream possible for millions of 
families across our great nation. We know that every dollar in lost 
revenue must be made up somewhere else in the budget. And far too 
often, my Republican colleagues have sought to do this by reducing 
spending in critically important domestic spending programs such as 
infrastructure development, education, social security, and increased 
healthcare access.
  As Members of Congress, it is our responsibility to pass sensible and 
pragmatic legislation that not only aids industry, but also grows the 
paychecks of hard-working families and invests in the future of our 
children. We must weigh this tax extenders package against its long-
term impact on Congress' ability to help businesses create jobs and 
opportunities, grow our economy, invest in our aging infrastructure, 
strengthen our national security, and provide our senior citizens with 
the opportunity to retire with dignity. The American people deserve a 
more balanced bill that offsets its cost, and helps both individuals 
and businesses equitably across the board.
  I urge my colleagues to review this legislation carefully, with a 
focus on our nation's future.

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