H5578 CONGRESSIONAL RECORD — HOUSE August 1, 2012 Middle East, and to the entire international set of sanctions to isolate any country in the strengthens measures against those who community. Both President Obama and the world during peacetime. would aid and abet these disturbers of global United States Congress have unequivocally It is imperative that our nation takes all peace. stated that Iran must not be permitted to de- steps necessary to isolate Iran, force them to It also effectively blacklists Iran’s energy velop nuclear weapons. end their dangerous pursuit of nuclear weap- sector and anyone doing business with it. By On his visit to the Middle East this week, ons, and secure that the regime in Teheran preventing Iran from repatriating the proceeds U.S. Defense Secretary Leon Panetta stated will no longer be a threat to peace and pros- from its oil sales, this rogue government will that ‘‘sanctions are having a serious impact in perity in the Middle East. be deprived of 80 percent of its hard currency terms of the economy in Iran.’’ Iran is now Once this legislation is passed and signed earning and half of the funds used to support struggling to conduct international trade, losing into law, virtually all of Iran’s energy, financial, its national budget. markets and trading partners. Its currency has and transportation sectors would be subject to Iran has used many tricks to subvert current lost over half of its value. U.S. sanctions. Companies conducting busi- sanctions—from oil for gold swaps to selling Meanwhile, the administration continues to ness in these industries would face the possi- energy bonds to other trading and bartering expand sanctions against Tehran. Earlier this bility of losing access to U.S. markets. schemes. They have been successful because week, President Obama signed an executive I also applaud the inclusion of sanctions there are governments who care more for order to extend sanctions to anyone, using against human rights abusers in Iran and making profit from doing business in Iran than any method of payment, who purchases Ira- Syria in this legislation. The deplorable actions in preventing threats to world peace. Inter- nian crude oil—preventing Iran from circum- by the political and military leaders in Iran and national efforts to rein in the nuclear ambitions venting sanctions by using bartering and other Syria against their own people must come to of Iran have been stymied particularly by unconventional payment options. It also ex- an immediate halt and deserve global con- China. panded sanctions on buyers of Iranian petro- demnation. Despite expressing formal support for chemical products, and authorized penalties Important allies, such as the European United Nations Security Council sanctions for entities seeking to evade U.S. sanctions. Union, Canada, Australia, Japan, South against Iran since 2005, China has stepped in Also this week, the U.S. Treasury sanctioned Korea, India, and Israel, have joined the where other nations have curtailed trade with the Bank of Kunlun in China and Elaf Islamic American people in enacting sanctions against Iran. China’s Bank of Kunlun and the Elaf Is- Bank in Iraq for providing financial services to Iran. lamic Bank in Iraq have facilitated transactions Iranian banks. It is important that this Chamber say with a worth millions of dollars for Iranian banks al- Today, Congress is acting to further tighten strong, unified voice that we stand with Israel ready under sanctions. Stronger sanctions will the economic noose on the Iranian regime. during these difficult times. make such unsavory alliances more difficult. The bill under consideration today, H.R. 1905, As co-chair of the Democratic Israel Work- This is why the reformulated bill we consider strengthens and expands existing sanctions, ing Group, I call on Members from both sides today is so vital in eliminating to the extent banning any commercial activities with Iran’s of the aisle to vote in support of this bipartisan possible all avenues for Iran’s allies to play oil and natural gas sector, including helping resolution. enabler to its nuclear ambitions and to its pa- Iran ship its oil under the flag of another na- I would also like to take a moment to thank tronage of terrorist operations. tion. This bill increases sanctions targeting en- the President for his leadership on sanctions I want to congratulate House Foreign Affairs tities involved with the Iranian Revolutionary on Iran. Yesterday, President Obama signed Committee Chairman ILEANA ROS-LEHTINEN, Guard Corps and sanctions human rights of- an Executive Order that imposes new sanc- Senate Banking, Housing and Urban Affairs fenders. tions against the Iranian energy and petro- Committee Chairman TIM JOHNSON and other When coupled with existing sanctions, to- chemical sectors, as well as sanctions against members for their hard work in crafting a bi- day’s bill represents the strongest-ever effort those who are providing material support to partisan, bicameral bill that works. to financially isolate Iran. This is critical, be- the National Iranian Oil Company, Naftiran The SPEAKER pro tempore. The cause we must persuade the Tehran govern- Intertrade Company, or the Central Bank of question is on the motion offered by ment to abandon its pursuit of nuclear weap- Iran. These measures will help strengthen the the gentlewoman from Florida (Ms. ons. I strongly support utilizing our entire dip- existing sanctions regime and bring Iran that ROS-LEHTINEN) that the House suspend lomatic and economic arsenal to ensure that much closer to ending its heedless quest for the rules and agree to the resolution, Iran does not develop nuclear weapons. nuclear weapons. H. Res. 750. Today’s bill is a critical step towards in- Mr. SMITH of New Jersey. Mr. Speaker, I The question was taken. creasing pressure on the Iranian government. rise today in strong support of the House The SPEAKER pro tempore. In the I urge my colleagues to join me in strongly amendment to the previous Senate amend- opinion of the Chair, two-thirds being supporting this legislation. ment to H.R. 1905. In his 2002 State of the in the affirmative, the ayes have it. Mr. REED. Mr. Speaker, I rise today to reaf- Union Address, former President George H.W. Ms. ROS-LEHTINEN. Mr. Speaker, firm my support for sanctions to be placed Bush said that Iran was pursuing weapons of on that I demand the yeas and nays. upon Iran. Mahmoud Ahmadinejad and Ali mass destruction and exporting terror. A dec- The yeas and nays were ordered. Khamenei are once again stressing the pro- ade later, Iran’s global threat is greater than The SPEAKER pro tempore. Pursu- liferation of nuclear weapons and ballistic mis- ever. ant to clause 8 of rule XX, further pro- siles within Iran’s borders and we must take We are currently embroiled in a standoff ceedings on this question will be post- swift and strong actions against these meas- with Iran over its pursuit of nuclear capability. poned. ures. We find ourselves on the brink of conflict over f Iran is not just a threat to the United States, potential Iranian armed interference with oil JOB PROTECTION AND RECESSION but to all free countries around the globe. As and other shipments through the Strait of PREVENTION ACT OF 2012 Hormuz and its persistent threats against a country that harbors terrorists, foreign lead- Mr. CAMP. Mr. Speaker, pursuant to Israel. Even prior to 9–11, Hezbollah, sup- ers must stay vigilant and recognize Iran’s House Resolution 747, I call up the bill ported by Iran, was responsible for more practices as a national security concern. (H.R. 8) to extend certain tax relief Lastly, we must stand up against the human American deaths around the world than any provisions enacted in 2001 and 2003, and rights abuses the Iranian regime is supporting. other terrorist organization. Since 2001, Iran for other purposes, and ask for its im- Its citizens have continually been sheltered has embarked on more direct efforts to harm mediate consideration. from outside information and ideas due to American interests as evidenced by last year’s The Clerk read the title of the bill. strict governmental control. We need to inform foiled Iranian-backed assassination plot The SPEAKER pro tempore. Pursu- the regime that the Iranian citizens deserve against the Saudi ambassador to the United ant to House Resolution 747, the bill is the basic human rights as laid out by the States. considered read. United Nations. I am proud to support H.R. The current state of Iranian sanctions clearly The text of the bill is as follows: 1905 and I encourage the President to sign has not worked to reduce Tehran’s threat to H.R. 8 global peace. That’s why we need the en- this into law promptly. Be it enacted by the Senate and House of Rep- Mr. GENE GREEN of Texas. Mr. Speaker, hanced approach this legislation will take in resentatives of the United States of America in I rise in strong support of the conference re- countering efforts by Iran to evade the impact Congress assembled, port to H.R. 1905, the Iran Threat Reduction of international sanctions. H.R. 1905 as SECTION 1. SHORT TITLE. and Syria Human Rights Act of 2012. This bi- amended tightens reporting on countries vio- This Act may be cited as the ‘‘Job Protec- partisan legislation represents the strongest lating sanctions on these countries and tion and Recession Prevention Act of 2012’’.

VerDate Mar 15 2010 03:29 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00052 Fmt 4634 Sfmt 0634 E:\CR\FM\A01AU7.034 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5579 SEC. 2. EXTENSION OF 2001 AND 2003 TAX RELIEF. (b) EXTENSION OF ALTERNATIVE MINIMUM prehensive tax reform, and create jobs. (a) EXTENSION OF 2001 TAX RELIEF.— TAX RELIEF FOR NONREFUNDABLE PERSONAL In contrast, my Democrat colleagues (1) IN GENERAL.—Section 901 of the Eco- CREDITS.—Section 26(a)(2) of such Code is have proposed raising taxes. They nomic Growth and Tax Relief Reconciliation amended— claim the tax hike will only affect the Act of 2001 is amended by striking ‘‘Decem- (1) by striking ‘‘during 2000, 2001, 2002, 2003, ber 31, 2012’’ both places it appears and in- 2004, 2005, 2006, 2007, 2008, 2009, 2010, or 2011’’ rich. What they don’t want to tell you serting ‘‘December 31, 2013’’. and inserting ‘‘after 1999 and before 2014’’, is that, in reality, this tax hike will hit (2) EFFECTIVE DATE.—The amendments and nearly 1 million small businesses and made by this section shall take effect as if (2) by striking ‘‘2011’’ in the heading thereof 53 percent of small business income. A included in the enactment of the Economic and inserting ‘‘2013’’. study conducted by Ernst & Young con- Growth and Tax Relief Reconciliation Act of (c) EFFECTIVE DATE.—The amendments cluded that the Democrat tax hike 2001. made by this section shall apply to taxable could lead to the loss of over 700,000 (b) EXTENSION OF 2003 TAX RELIEF.— years beginning after December 31, 2011. jobs. That is the choice the Democrats (1) IN GENERAL.—Section 303 of the Jobs SEC. 5. TREATMENT FOR PAYGO PURPOSES. have made—to raise taxes on families and Growth Tax Relief Reconciliation Act of The budgetary effects of this Act shall not and small businesses and to destroy 2003 is amended by striking ‘‘December 31, be entered on either PAYGO scorecard main- 2012’’ and inserting ‘‘December 31, 2013’’. jobs. tained pursuant to section 4(d) of the Statu- As this chart illustrates, America is (2) EFFECTIVE DATE.—The amendment tory Pay-As-You-Go Act of 2010. made by this section shall take effect as if at a crossroads. The question is: Which included in the enactment of the Jobs and The SPEAKER pro tempore. After 1 path will our country take? The Demo- Growth Tax Relief Reconciliation Act of hour of debate on the bill, it shall be in crats’ path includes tax hikes that will 2003. order to consider the amendment in cause small businesses to lose 700,000 SEC. 3. EXTENSION OF INCREASED SMALL BUSI- the nature of a substitute printed in jobs. The Republicans’ tax reform path NESS EXPENSING. part B of House Report 112–641, if of- will make the Tax Code simpler and (a) DOLLAR LIMITATION.—Section 179(b)(1) fered by the gentleman from Michigan fairer, and it will lead to the creation of the Internal Revenue Code of 1986 is (Mr. LEVIN) or his designee, which shall of more than 1 million jobs in the first amended— be considered read and shall be sepa- year. (1) by striking ‘‘and’’ at the end of subpara- rately debatable for 20 minutes equally graph (C), by redesignating subparagraph (D) What is even worse is that, in their as subparagraph (E), and by inserting after divided and controlled by the pro- quest to raise taxes on the so-called subparagraph (C) the following new subpara- ponent and an opponent. ‘‘wealthy,’’ several of my Democrat graph: The gentleman from Michigan (Mr. colleagues have made it clear that they ‘‘(D) $100,000 in the case of taxable years CAMP) and the gentleman from Michi- are willing to hold low- and middle-in- beginning in 2013, and’’, and gan (Mr. LEVIN) each will control 30 come Americans hostage by threat- (2) by striking ‘‘2012’’ in subparagraph (E) minutes. ening to let all income tax rates rise as (as redesignated by paragraph (1)) and insert- The Chair recognizes the gentleman scheduled at the end of the year if they ing ‘‘2013’’. from Michigan (Mr. CAMP). don’t get their way. These massive and (b) REDUCTION IN LIMITATION.—Section 179(b)(2) of such Code is amended— GENERAL LEAVE imminent tax hikes are part of the fis- (1) by striking ‘‘and’’ at the end of subpara- Mr. CAMP. Mr. Speaker, I ask unani- cal cliff, or ‘‘jobs cliff’’ as I often refer graph (C), by redesignating subparagraph (D) mous consent that all Members have 5 to it, that we face at the end of this as subparagraph (E), and by inserting after legislative days in which to revise and year. The nonpartisan Congressional subparagraph (C) the following new subpara- extend their remarks and to include ex- Budget Office estimates that going graph: traneous material on H.R. 8. over the fiscal cliff could cost America ‘‘(D) $400,000 in the case of taxable years The SPEAKER pro tempore. Is there 2 million to 3 million jobs. This would beginning in 2013, and’’, and be a devastating blow to almost 13 mil- (2) by striking ‘‘2012’’ in subparagraph (E) objection to the request of the gen- (as redesignated by paragraph (1)) and insert- tleman from Michigan? lion Americans who are unemployed, as ing ‘‘2013’’. There was no objection. well as to middle class Americans who (c) APPLICATION OF INFLATION ADJUST- Mr. CAMP. Mr. Speaker, I yield my- have been struggling in the Obama MENT.—Section 179(b)(6)(A) of such Code is self such time as I may consume. economy. amended— I rise today in support of H.R. 8, the Mr. Speaker, the choice, to me, is ob- (1) by striking ‘‘calendar year 2012, the Job Protection and Recession Preven- vious. Let’s pass this bill. Let’s work $125,000 and $500,000 amounts in paragraphs tion Act. In doing so, I and my fellow toward comprehensive tax reform that (1)(C) and (2)(C)’’ in the matter preceding Republican House colleagues have creates a simpler, fairer Tax Code for clause (i) and inserting ‘‘calendar year 2013, all Americans and, most importantly, the $100,000 and $400,000 amounts in para- made an important choice—the choice graphs (1)(D) and (2)(D)’’, and to focus on job creation. Unfortu- that creates the jobs that we so badly (2) by striking ‘‘calendar year 2006’’ in nately, my colleagues on the other side need. clause (ii) and inserting ‘‘calendar year of the aisle who oppose this important I urge my colleagues on the other 2002’’. piece of legislation have made a dif- side of the aisle to reconsider their (d) COMPUTER SOFTWARE.—Section ferent choice—the choice to focus on choice to increase taxes and destroy 179(d)(1)(A)(ii) of such Code is amended by tax hikes that destroy jobs. over 700,000 jobs. Now is not the time to striking ‘‘2013’’ and inserting ‘‘2014’’. dig the hole we are in any deeper. In- (e) SPECIAL RULE FOR REVOCATION OF ELEC- The Job Protection and Recession Prevention Act stops the tax hike we stead, Democrats should take the ad- TIONS.—Section 179(c)(2) of such Code is vice of people like President Bill Clin- amended by striking ‘‘2013’’ and inserting face at the end of the year and provides ‘‘2014’’. a 1-year extension of the low tax poli- ton and former economic adviser to (f) EFFECTIVE DATE.—The amendments cies originally enacted in 2001 and 2003 President Obama, Larry Summers, and made by this section shall apply to taxable and then extended again in 2010. The join Republicans to stop the tax hike, years beginning after December 31, 2012. 2010 bill was supported by 85 current work to strengthen our economy, and SEC. 4. EXTENSION OF ALTERNATIVE MINIMUM House Democrats, 40 current Senate get our country back on track. TAX RELIEF FOR INDIVIDUALS. I reserve the balance of my time. Democrats, and President Obama. (a) EXTENSION OF INCREASED ALTERNATIVE Mr. LEVIN. Mr. Speaker, I yield my- Importantly, this legislation allows MINIMUM TAX EXEMPTION AMOUNT.—Section self such time as I may consume. 55(d)(1) of the Internal Revenue Code of 1986 Congress time to pass and enact com- There is a choice to be made here, is amended— prehensive tax reform without causing and it isn’t what the chairman has put (1) by striking ‘‘$72,450’’ and all that fol- undue harm to our fragile economy. forth for one second. Everyone in this lows through ‘‘2011’’ in subparagraph (A) and Economists have noted that com- body agrees that we should extend the inserting ‘‘$78,750 in the case of taxable years prehensive tax reform, when paired beginning in 2012 and $79,850 in the case of middle class tax cut. The Senate passed with appropriate government spending a bill that does just that. The Presi- taxable years beginning in 2013’’, and cuts, could lead to the creation of 1 (2) by striking ‘‘$47,450’’ and all that fol- dent is ready to sign it this week. million American jobs in the first year lows through ‘‘2011’’ in subparagraph (B) and b 1530 inserting ‘‘$50,600 in the case of taxable years alone. beginning in 2012 and $51,150 in the case of The choice Republicans have made is The middle class families of this taxable years beginning in 2013’’. to pass this bill, work toward com- country need certainty, not some

VerDate Mar 15 2010 03:29 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00053 Fmt 4634 Sfmt 0634 E:\CR\FM\A01AU7.033 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5580 CONGRESSIONAL RECORD — HOUSE August 1, 2012 vague promises about something to be for seniors living on fixed incomes, the If Republicans agree and Democrats done in the future. The question is: If return of the infamous marriage pen- agree and liberals and conservatives everybody agrees that we should con- alty for working families, and the al- and even Tea Party people agree that tinue the middle class tax cut, why ternative minimum tax, ensnaring these people who work hard every day don’t we come together? The answer is middle-income taxpayers. should continue to have this tax cut, this: The Senate bill continues all of An average family of four with an in- then why the heck don’t we agree to the tax cuts for every American house- come of $50,000 could see a tax increase give it to them? If it ever becomes that hold on their first $250,000 of income; of almost $2,200 a year. The President we’re in a political debate, and it’s 114 million families would see their tax says he wants to stop the midnight tax only about less than 2 percent of 100 cuts extended in full; 97 percent of hike for some taxpayers, but not all. percent, then let’s fight like the devil small businesses would keep all of their He claims that he merely wants the over that and see who prevails. But it’s tax cuts, according to the Joint Tax- wealthy to pay more. The truth is that not going to be hard for us to explain ation Committee. Why don’t the Re- his tax increase proposal would espe- this. If you do this to the hardworking publicans join us in acting? cially hit small business owners. As American people, shame on you. I think the answer is clear. This someone who comes from a small busi- b 1540 chart shows it. They’re insistent. Their ness background myself, I understand priority is cutting taxes for the very that many small businesses pay taxes Mr. CAMP. I yield 3 minutes to the wealthy. They want to give households as individuals. Their income includes gentleman from Illinois (Mr. ROSKAM), that earn more than $1 million a year money that they reinvest in the busi- a distinguished member of the Ways a tax cut on average of $160,000. This ness to expand and hire more workers. and Means Committee. chart shows it. What we have here for A big tax increase could harm the very Mr. ROSKAM. I thank the gentleman middle class families, $2,200; for the businesses we are relying on to create for yielding. very wealthy, $160,000. That’s over 70 more jobs. In fact, a new study by I would like to pause and just listen times more of a tax cut for million- Ernst & Young suggests that the Presi- and think through a couple of the argu- aires than for typical families. What dent’s tax proposal would cost more ments that we’ve been hearing over the makes it worse, if possible, is it would than 700,000 American jobs. past couple of weeks from our friends add $49 billion to the deficit. Mr. Speaker, what lane will you on the other side of the aisle and from This Republican bill also would raise choose? I urge the House to pass H.R. 8 the President of the United States, and taxes on 25 million families. Those who and prevent a tax hike for all Ameri- one is that people should pay their fair benefited from the EITC, the child tax cans. share. Now, that’s an interesting argu- credit, and a higher education tax cred- Mr. LEVIN. Mr. Speaker, I yield my- ment, Mr. Speaker, and let’s look at it, that they would eliminate alto- self 10 seconds. that a little bit closer. gether. It’s still worse. The bill we’re When you look at Mr. HERGER’s dis- So, if the President’s will were to going to discuss tomorrow, the so- trict, he’s standing up to protect 180 prevail on this, in other words, if this called ‘‘tax reform,’’ essentially would people who have income over $1 mil- tax hike goes into place, then the top provide someone earning more than $1 lion, sacrificing a middle-income tax tax rate for some small businesses million a $331,000 tax cut. cut for 285,000. would be over 44 percent. Now, contrast This debate is not about tax reform. I now yield 2 minutes to the very dis- that to the top tax rate that President It’s about whether or not we protect tinguished former chairman and a gen- Obama is proposing, which would be 28 the very wealthy at all costs—at all tleman from New York (Mr. RANGEL). percent. costs at the expense of middle-income Mr. RANGEL. Mr. Chairman, I’ve All afternoon you are going to hear a families, and everybody except the never been so fortunate in this House lot of things go back and forth, but you very wealthy. This talk about 700,000 to have the Republicans state the argu- won’t hear anyone contradict those jobs being lost, that study was financed ment as clearly as they have this after- numbers and that disparity, Mr. Speak- by special interest friends, and it’s noon, and I think WALLY HERGER said er, because they are true. There is no been discredited by every fact checker. it. It is possible that we’re not talking sense in telling corporations, You get a They’re talking about 70 times more about a tax cut. People working every 28 percent rate, and the top rate for for the millionaire than for middle-in- day trying to make ends meet, they small business is 44 percent. There’s come families on average, when in 2010, don’t know the wonderful tax cut that nothing fair about that. 93 percent of income growth went to they are enjoying, but you bet your life All right. Well, let’s look at another the top 1 percent of wealthy house- if we don’t come together, if we don’t argument. holds. And they come here and say that reach agreement, they’ll understand Another argument is that this some- their first priority is protecting the what a tax hike is. That’s exactly how closes a budget gap and this is def- very wealthy. what’s going to happen to 98 percent of icit reduction, and we’re all about def- This isn’t about tax reform. We need the tax-paying people of this great icit reduction and let’s have at it. Well, to work on this. This is about whether country. a little secret on the deficit reduction the first priority of the Republicans is Taxpayers, who work every day, who is, at best, the most generous estimate protecting the very wealthy, holding raise their families, who buy from the is this would take care of—what?— hostage middle-income families. Let local merchants that keep small busi- maybe 7, 8, 9, 10 days of spending, the middle-income family hostages be ness alive, are going to find out, prob- maybe. But who would pay the cost for released. Join together for what every- ably too late, that the Republican that? I’ll tell you who pays the cost for body says they’re for. Let’s pass today Party says you don’t deserve the lower that. The job creators and the people our substitute and give a middle-in- tax rate. Then they may ask: What’s that are looking for jobs right now, Mr. come tax cut to everybody, including holding this up if everyone agrees that Speaker, according to Ernst & Young 97 percent of small businesses. they should have it? and others that have looked at this. With that, I reserve the balance of We’re going to have to explain to the Some estimates are that it would cost my time. middle class what the Republicans are 700,000 jobs. Mr. CAMP. At this time, I yield 2 explaining to us: that somehow we are Now, I know nobody that is willing to minutes to the distinguished chairman to believe that less than 2 percent of say, You know what? We’ve just got of the Health Subcommittee, the gen- the population is creating the jobs and too many jobs. Let’s just thin the herd. tleman from California (Mr. HERGER). really supporting the economy. I don’t There are too many people working. Mr. HERGER. Mr. Speaker, this know where they’ve been or how Let’s thin the herd. There are too House must act to stop the midnight they’re going to come back, but they many people working. And let’s do it tax hike that threatens to hit all haven’t been creating jobs, and they because of Democratic dogma. American taxpayers on December 31. haven’t been spending and investing We have got leading Democrats on This midnight menace includes a 50 money. Even if there was a con- the other side of the rotunda who have percent cut in the value of the child troversy, why the heck are we holding said, Let’s embrace the fiscal cliff. tax credit, higher taxes on dividends hostage 98 percent of the people? Let’s just grab onto the dogma and go

VerDate Mar 15 2010 03:29 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00054 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.073 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5581 right off the cliff, regardless of the out- The SPEAKER pro tempore. The tunity for the strongest economy in come. time of the gentleman has expired. the world. It’s a clear choice. Well, you know what? That’s ridicu- Mr. LEVIN. I yield the gentleman an Mr. LEVIN. I now yield 2 minutes to lous. additional 15 seconds. the gentleman from the great State of And we have an opportunity here to Mr. BLUMENAUER. That’s what is New Jersey (Mr. PASCRELL), another make some certainty to move to the at stake here. member of our committee. next year—not to move to the next I would suggest that we take what we Mr. PASCRELL. I thank the ranking year just for the sake of another year, ought to be able to agree on, the 98 per- member. but to move to next year to fundamen- cent of this tax reduction, agree on Mr. Speaker, this bill makes it as tally reform our tax system, to create that, not punt, give some real cer- clear as day just what the priorities of a more competitive Tax Code that is tainty, and then have an honest debate the majority are. Instead of working broad and fair and wise and well about their proposal to increase taxes with us to shift the tax burden away thought out and that does what—that on the middle class at the expense of from the middle class—who haven’t creates the most competitive Tax Code being able to provide for the richest of gotten a raise in a long time—and in the world right here in the United Americans. Let’s have that debate. small businesses, this bill does the States. Mr. Speaker, it could be great. Let’s not hold people hostage in the exact opposite. We could have a great Tax Code, but short term. And for you to continue to say that what we’ve got to do is create a year of Mr. CAMP. At this time, Mr. Speak- this is going to be a burden across the certainty to move forward. er, I yield 2 minutes to the gentleman board on small businesses is delusional. I urge passage of this. from Texas (Mr. BRADY), the distin- Ninety-seven percent of small busi- Mr. LEVIN. I yield myself 15 seconds. guished chairman of the Trade Sub- You know, it’s ironical that the gen- nesses won’t be affected by our bill. committee. To the antitax crusaders, this bill tleman from Illinois minimizes adding Mr. BRADY of Texas. Mr. Speaker, I $50 billion to the deficit over 10 years, will raise taxes on the middle class— appreciate Chairman CAMP’s leadership if continued, which is your policy, con- your bill—and working poor—your on this important jobs issue. bill—by an average of $1,000. In New tinued the high income. A trillion dol- For America, this recovery is the lars, that’s something you just shrug Jersey, this bill will make 3.2 million weakest since World War II. It’s dead middle class and working poor families your shoulders at? last. Millions of Americans can’t find I now yield 2 minutes to the gen- pay more taxes so that 231,400 million- work. Millions of Americans have tleman from Oregon, EARL BLU- aires can get a bigger tax cut. given up looking for work. Businesses MENAUER, another distinguished mem- b 1550 ber of our committee. along Main Street are struggling. Busi- It’s as simple as that. You can shake Mr. BLUMENAUER. It is an inter- ness confidence is down. Consumer con- your head all you want; those are the esting question: Which lane are we fidence is down. This economy is not going to choose? working, but yet the President has a facts. This bill would add almost $1 The study that has been offered by plan. He gave it to us a couple of weeks trillion more to the deficit than the our friends on the other side of the ago. He said, I want to raise taxes on Democratic bill. My Lord, I don’t hear aisle is bogus, and I invite people to ac- small businesses and professionals. you talk about that. I don’t hear you tually look at it and look at the cri- But here is the cost in real terms for say that. I wonder why? Just so that 0.3 tiques that have been offered up. our economy: 700,000 more Americans percent of the taxpayers can get an av- But we’ve had a real-life experiment will be kicked to the unemployment erage tax cut of over $74,000? because these tax rates that are being line; the economy will grow slower, in At least the last time the Repub- talked about were exactly what we had fact, it will shrink; paychecks will licans took this shortsighted, trickle- in the Clinton years, at which time shrink; there will be less investment in down approach, we had a $5.6 trillion some of our good friends on the other America. surplus, thanks to Bill Clinton. In 2008, side of the aisle predicted calamity, job What kind of plan is that for a recov- we were $11 trillion, over $11 trillion in loss, and that the economy would ery? debt. We quite simply can’t afford to crash. What, in fact, happened is that And also, seniors are going to write gives millionaires another tax break we created 22 million jobs. more checks in capital gains and divi- and make our children and our grand- What has happened is that, when dends to Uncle Sam, the dividends they children foot the bill. they had a chance to experiment with live on. Small businesses will be able The proof is in the pudding. In 2000, their vision in the Bush years, where to expand less often because of this. when we first tried this supply side they put in place these tax reductions, Republicans think there is a different voodoo, unemployment was 4.2 percent. if they would have worked, what would choice for America’s economy. We By 2008, it had doubled. have happened? Did employment even want to stop the tax hikes. We want to The SPEAKER pro tempore. The match what happened in the Clinton grow this economy by 1 million new time of the gentleman has expired. years? No. In fact, it was less than 5 jobs. We want to make sure that when Mr. LEVIN. I yield the gentleman an percent of what happened in the 8 years you, as a senior, save your whole life, additional 15 seconds. of Bill Clinton. you invest in dividends in a home and Mr. PASCRELL. To those Members In fact, the Obama administration— land, that you keep it to survive in concerned with tax fairness: today, after the first few months when it was your retirement years. We want to wealth concentrated with the top 1 per- in office and could be credited with re- make sure the death tax doesn’t come cent is at the same level as the period sponsibility for the economy—has pro- back to life. immediately preceding the Great De- duced more private sector jobs than Think about this: You work your pression. So you shrunk the middle the entire Bush administration in 8 whole life to build a family-owned farm class with your great economic ideas years. The job loss that’s gone negative or business, and when you die, Uncle between 2001 and 2008, and what you did has been slashing in the public sector, Sam swoops in and takes more than was made the rich richer. I salute you primarily teachers and firefighters and half of everything you’ve worked a life- if that’s what you think America is police officers at the State and local time to earn. about. We are all job creators, not just levels. That’s the choice between the Repub- the rich. Mr. Speaker, the strategy here is to lican plan to stop the tax hikes and Mr. CAMP. At this time, Mr. Speak- continue punting. My Republican grow this economy and the President’s er, I yield 1 minute to the distin- friends are punting on the farm bill. plan to raise taxes and hurt this econ- guished gentleman from Ohio (Mr. My Republican friends are punting on omy. It is a clear choice. The House is BOEHNER), the Speaker of the House. SGR. They are now proposing a budget going to act. And more importantly, Mr. BOEHNER. I thank my friend for solution that gets us past the election we’re going to make sure America has yielding, and remind my colleagues because they can’t face up to their own the best tax system in the world again that for the last 18 months when we’ve Tea Party extremists, and they’re so that we can compete and win so that been in the majority, we have focused split. our kids and grandkids have the oppor- on jobs. Now, the American people are

VerDate Mar 15 2010 03:29 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00055 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.075 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5582 CONGRESSIONAL RECORD — HOUSE August 1, 2012 still asking the question: where are the force because it fails to address one of failed stimulus bill that was promised jobs? And that’s why we’ve got over 30 the most penalizing parts of our Tax to create unemployment of under 8 per- jobs bills now pending over in the Code. cent. Frankly, it’s never been there. United States Senate. And after today, I believe that the proposal that my For 40 months, we’ve been over 8 per- we’ll have another bill sitting over in colleague Mr. CAMP and his committee cent. These are spending items that the Senate that will help create more have brought forward is a reasonable, were failed, that failed in the stimulus jobs in America. responsible approach, and I would urge program. That program did not work. Two years ago, the President said we its passage. At this time, I yield 2 minutes to the shouldn’t raise taxes in this time of a Mr. LEVIN. I yield myself 15 seconds. distinguished member of the Ways and slow economy. I agreed with the Presi- Look, no one here should distort the Means Committee, the gentleman from dent. The Congress agreed with the facts. From Joint Tax: 97 percent of Louisiana, Dr. BOUSTANY. President. All of the Republicans and small business people would keep all of Mr. BOUSTANY. Mr. Speaker, I rise 119 Democrats voted to extend all of their tax cuts. And in the Speaker’s in support of this very important legis- the current tax rates. And here we are district, there are 144 people with in- lation. some 18 months later, economic growth come over a million, compared to the The administration and congres- is actually slower than it was when 300,000-plus. He’s sacrificing the middle sional Democrats seek to raise taxes on President Obama made those remarks, class for a few with over a million dol- America’s families, small businesses, and yet the President wants to go out lars. and job creators. There’s a very clear and raise the taxes on the so-called I now have the pleasure of yielding 2 choice here: either we can let small rich. minutes to the very distinguished gen- business owners, the job creators, Well, let me tell you who the so- tleman from South Carolina (Mr. CLY- America’s entrepreneurs, create jobs, called rich are. About a million of BURN). or we can follow the path they’re advo- those people who you want to increase Mr. CLYBURN. Mr. Speaker, I thank cating over here and tax small busi- taxes on are small business owners, Mr. LEVIN for yielding me this time, nesses. small business owners who pay their and for his leadership on this very im- I stand in strong support of creating business taxes through their personal portant issue, and I rise in strong oppo- American jobs. Over 940,000 business tax return. I know all about this. I used sition to this legislation. owners will see higher taxes if the to be one of them. I had a subchapter S South Carolina, my home State, is President and Washington Democrats corporation, and whatever the com- home to many military installations— are allowed to raise the top two rates. pany’s so-called profits were, I had to Fort Jackson in Columbia; Shaw Air This means over half—over half—of our pay taxes on those, whether I actually Force Base and the 3rd Army Head- Nation’s small businesses will see high- got the money or not. quarters in Sumter; the Joint Air Base er taxes at a cost of over 700,000 fewer So when you look at what the Presi- in Charleston; Parris Island; and the jobs for Americans—over 700,000 fewer dent wants to do, you want to tax a Marine Air Station in Beaufort. I jobs for Americans. million small business owners. Ernst & proudly work to represent these mili- Allowing these tax cuts to expire will Young has come out and made it clear tary communities, and I oppose H.R. 8 hurt middle class families. If we pass that if you do this, 750,000 jobs are because of the hurt it would visit upon this, the average taxpayer in my State going to be destroyed, at a time when middle-income and military families. of Louisiana will see tax relief of al- the American people are asking: where A new report out today by the Center most, on the average, about $1,800. The are the jobs? for American Progress documents the average family of four earning $50,000 It’s time to put the rhetoric aside. harsh impact that H.R. 8 would have on per year can face tax increases of over It’s time to put the politics aside. I many military families. For example, a $2,200 per family if these cuts expire. A know we’re in an election year, but my private in the United States Army in single parent earning $36,000 per year goodness, raising taxes at this point in his first year of service who is married could see tax increases of $1,100 if these this economy is a very big mistake. Ex- with an infant child would have a $273 provisions expire. tend all of the current tax rates, which increase under H.R. 8. That’s real Mr. Speaker, this administration our bill does, for 1 year, so we’ve got money to a young soldier. continues its assault on the American time to revise our Tax Code. Lower A marine corporal with 4 years of family and American businesses with rates, fairer rates for all Americans, service who is married with two chil- its tax-and-spend policies. Our country which is what needs to happen if we’re dren would see a tax increase of $448 can’t afford it. Certainly, America’s truly going to make America more under H.R. 8. That family is already families and businesses can’t afford it. competitive. Put more Americans back struggling to make ends meet. What we need is this: a 1-year exten- to work. And bring some of those jobs And finally, Mr. Speaker, a military sion to allow us to move forward with that have been shipped overseas back police sergeant in the Air Force with 8 a real comprehensive approach to tax home. We all know that we need to re- years service, a spouse, and three reform. vise our Tax Code and reform it from young children would get a whopping We have a real opportunity to do top to bottom. But that’s not going to tax increase of $1,118 under H.R. 8. what’s right for America, to promote happen overnight. So extending all of Mr. Speaker, these are just three ex- American competitiveness. This is the these rates for 1 year will provide cer- amples of how the Republican bill moment. Let’s seize it. Let’s do it. We tainty. Certainty for whom? Certainty would negatively impact our military need to take this step today to get us for small business owners, people who families. The Senate has passed a mid- where we can move to that next step, can make decisions about what they dle class tax cut, and the President has that next point. want to invest in terms of new plant, told us he will sign it. The only thing So I urge my colleagues on both sides new equipment, whether they want to standing between the middle income of the aisle, let’s quit dilly-dallying hire new employees. This is the most and their tax cut is the Republican around with this. Let’s show some commonsense thing that we can do, leadership in this House. leadership for the American people. and there’s no reason that we Mr. Speaker, it is time that we come They want us to step up and be leaders shouldn’t. together and extend to the middle class and solve these problems. Let’s step up When we look at the proposal coming in this society an income tax cut that and be leaders. Let’s extend these pro- from our colleagues across the aisle, it is fair, that will create jobs, that will visions and move forward with a 21st raises taxes on dividends. Probably not offer security to families and stability century Tax Code. a smart thing to do. When you look at to communities. I urge a vote against Mr. LEVIN. I now yield 2 minutes to senior citizens, many of them who de- this bill. the very distinguished member of our pend on their dividend income, they’re committee, Mr. CROWLEY, from the going to get whacked by your proposal. b 1600 great State of New York. And under your proposal, not only do Mr. CAMP. I yield myself 15 seconds. Mr. CROWLEY. I thank my good we tax small business people, but, oh, I would just say that the gentleman’s friend from Michigan for yielding me yeah, the death tax comes back in full remarks refer to the stimulus bill, a this time.

VerDate Mar 15 2010 04:07 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00056 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.077 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5583 I rise in strong opposition to H.R. 8. The sentiment that was echoed tainty to the middle class that their The reason I oppose this bill is because throughout that entire conversation taxes are not going to go up next year. this bill will impose taxes on hundreds was that Washington should not be But instead of doing so, what are we of thousands of U.S. military families, raising taxes when our economy is still doing today, once again? We are having our heroes. That’s right, of the mil- struggling to recover. an argument about what to do for that lions facing a tax hike, hundreds of These job creators understand all too top 2 percent of income earners in thousands are U.S. military families. well what our country is facing as we America whom our Republican friends Let’s call this bill what it is, the ‘‘Re- approach, on January 1, this tax cliff, can never seem to do quite enough for. publicans’ Tax Hike on Our Heroes this fiscal cliff and this jobs cliff. The Even more troubling, this tax pack- Act.’’ message from all of these entre- age ends President Obama’s tax cuts Now, I know those on the other side preneurs was simple: Job creators and that make college more affordable and of the aisle will come down here one by business leaders alike were saying, help working families with children. So one and claim they are extending tax very directly, stop the tax hike. not only are we attempting, with their cuts for everyone, but you’re extending Studies have shown that this loom- package today and proposal, to hold cuts for people earning over $1 million ing tax hike would negatively impact the middle class hostage to extending a year and raising taxes on families half of all small business income, a loss tax cuts for the wealthiest, but they earning under $45,000 a year. This bill of 700,000 jobs, potentially, and 14,500 of want to raise taxes on 25 million fami- scales back tax breaks put in place by those jobs are in my home State of lies, with an average increase of $1,000. President Obama and directly aimed at Minnesota, Mr. Speaker. But if we ex- The SPEAKER pro tempore. The benefiting working families. tend these rates and we move toward time of the gentleman has expired. Let’s take a moment to put a face on tax reform, we can have a positive im- Mr. LEVIN. I yield the gentleman an the 25 million Americans whose taxes pact on our economy of 1 million new additional 15 seconds. will go up, including hundreds of thou- jobs. Mr. NEAL. We need to extend the sands of U.S. military families. Mr. Speaker, the choice is clear. With child tax credit and the earned income If you’re an Air Force Staff Sergeant the national unemployment rate of tax credit, and that’s what we should with 8 years of service, a spouse and over 8 percent for 41 consecutive be doing today for middle income three young children here stateside at months, we must stop the tax hike. Americans and provide them with some home, the Republicans’ Tax Hike on Mr. LEVIN. I yield myself 15 seconds. sense of security and support. Our Heroes Act will raise their taxes Look, I want to repeat, Joint Tax And, my God, can we do any more to by $1,100. A new recruit, a private in says 97 percent of small businesses help the wealthy in America than what the U.S. Army in their first year of would keep all of their tax cuts. And in our Republican friends have done? service earning a little over $18,000 a Mr. PAULSEN’s district, there are 1,345 b 1610 year—$18,000 a year, men and women people with income over 1 million com- on the front line defending our free- pared with over 325,000 households. Mr. CAMP. At this time I yield 1 dom—if they’re married with an infant That’s the equation at stake here. minute to a distinguished member of child at home, they will see an increase That’s the equation. the Ways and Means Committee, the under this bill of $273, a tax increase I now have a real pleasure to yield 2 gentleman from Texas (Mr. MARCH- under the Republicans’ Tax Hike on minutes to the very active gentleman ANT). Our Heroes Act. from Massachusetts (Mr. NEAL). Mr. MARCHANT. Mr. Speaker, I rise It begs the question, how are my col- (Mr. NEAL asked and was given per- today in strong support of the Job Pro- leagues who represent Fort Hamilton mission to revise and extend his re- tection and Recession Prevention Act in Brooklyn going to vote on the Re- marks.) of 2012. publicans’ Tax Hike on Our Heroes Mr. NEAL. There’s one indisputable Businesses in my district in Texas Act? Are you going to stand with your fact in this debate today, and that is and across the country are reluctant to military family constituents or with that the Bush tax cuts used borrowed hire and make investments due to an the 2 percent? money. uncertain economy and an impasse The SPEAKER pro tempore. The How much sense did that make to over taxes. This bill is a thoughtful time of the gentleman has expired. borrow the money to give tax cuts to step to bolster our economy and bridge Mr. LEVIN. I yield the gentleman an the wealthiest people in America, the the gap to tax simplification. This bill additional 15 seconds. top 2 percent? The argument at the provides a serious game plan and a Mr. CROWLEY. How are my col- time was simple, that we should give timetable that shows the American leagues who represent Fort Dix in New tax cuts to the people at the top be- economy how to move forward. Jersey going to vote on the Repub- cause they create jobs for the people in If we don’t act, the looming tax hike licans’ Tax on Our Heroes Act? My col- the middle and at the bottom. Fact: could destroy an estimated 700,000 jobs, leagues who represent Fort Bragg in the slowest economic growth at any according to an Ernst & Young study. North Carolina? Fort Detrick in Mary- time since Herbert Hoover was Presi- And it’s no surprise, then, that the In- land? Fort Monroe in Virginia? Rock dent of the United States. stitute of International Finance said Island Arsenal in Illinois? Beale Air The argument, or the assault on the there was a strong case to extend lower Force Base in California? Clinton Presidency was that he raised Bush-era taxes due to expire at the end Today, the choice is clear. Stand taxes of the top bracket, 39.6 percent— of the year in order to avert a fiscal with Democrats and the President who 22 million jobs; the greatest economic cliff. have put forward a plan that simply growth spurt in the history of America; I’m proud to support—and urge my asks America’s wealthiest to support a reminder to our friends, an unem- colleagues to support—this bill that this great land. ployment rate of 3.8 percent. helps U.S. job creators and gives busi- Mr. CAMP. At this time, I yield 1 So borrow the money during the nesses more confidence to put Ameri- minute to a distinguished member of Bush years for tax cuts so that we can cans and Texans back to work. the Ways and Means Committee, the give the wealthy—and, my goodness, Mr. LEVIN. Could the Speaker indi- gentleman from Minnesota (Mr. PAUL- what a ride they’ve had for these 12 cate how much time there is on each SEN). years. It is unbelievable when you look side? Mr. PAULSEN. Mr. Speaker, I thank at what those rate cuts did to people at The SPEAKER pro tempore. The gen- the chairman for yielding. the top. tleman from Michigan (Mr. LEVIN) has Mr. Speaker, last week, I took part We have a responsibility here to pro- 11 minutes remaining. The gentleman in a roundtable conversation in my dis- tect the middle class from a big tax from Michigan (Mr. CAMP) has 133⁄4 trict with over 20 small business lead- hike next year. Last week, the Senate minutes remaining. ers. They discussed the devastating im- passed a bill that would extend tax Mr. LEVIN. I reserve the balance of pact that these looming tax hikes cuts for 98 percent of the American my time. would have on job creation, not only people, the middle class, and now it’s Mr. CAMP. Mr. Speaker, at this time across the country, but in Minnesota. up to the House to provide some cer- I yield 2 minutes to a distinguished

VerDate Mar 15 2010 04:07 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00057 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.079 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5584 CONGRESSIONAL RECORD — HOUSE August 1, 2012 member of the Ways and Means Com- same thing over and over again and ex- die. If we do nothing, the death tax in- mittee, the gentleman from Nebraska pecting different results. Eleven years creases to 55 percent. We pay tax when (Mr. SMITH). after the Bush tax breaks became law we earn the income; we pay when we Mr. SMITH of Nebraska. Mr. Speak- and drove us deeper into deficits, let’s invest our income; and we pay again er, I rise in favor of the bill that we are not repeat these mistakes. Rather than when we leave it to our kids. You want facing here today. It’s been an inter- having these debates about whether to talk about a fair Tax Code, Mr. esting debate that we’ve had now for the richest 2 percent of Americans de- Speaker? So today, I’m voting for a some time. serve extra breaks, we should stand clear path forward. I learn a lot traveling around my dis- with the middle class. After 41 months of unemployment trict, but it was especially compelling Mr. Speaker, this should be an all- above 8 percent, we must stop the tax when I was at a manufacturing plant, hands-on-deck moment. America works hike. I’m committed to tax reform that less than 40 employees, and they told best when the middle class in America will create jobs, grow our economy, me—unprovoked—they said the estate is working. Let’s start talking about and support families. I am voting today tax going up to 55 percent would dev- how we can get all Americans back to for working families, for small busi- astate their business. Those were their work and strengthen our economy. nesses, for entrepreneurs, and for fam- words, ‘‘devastate their business.’’ It’s I urge my colleagues to reject this ily farms, Mr. Speaker. This bill puts not just farmers and ranchers that bill and support the Democratic alter- America back on the right track. would pay the estate tax, it would also native, which is focused on the middle Mr. LEVIN. Could you tell us, please, be small businesses—and very thriving class. again how much time there is remain- small businesses who put people to Mr. CAMP. At this time I yield my- ing? work, who provide benefits, health self 15 seconds. The SPEAKER pro tempore. The gen- care, and otherwise. We have a note here from Stan’s Two tleman from Michigan (Mr. LEVIN) has Truly, the 35 percent rate is a com- from Rowland Heights, California, a 9 minutes remaining. The gentleman promise. I would prefer to see no estate small business. They were asked: How from Michigan (Mr. CAMP) has 93⁄4 min- tax, given the fact that it is double would increased taxes impact your utes remaining. taxation—and certainly 55 percent is business? ‘‘Less hiring, more struggle Mr. LEVIN. I now yield 2 minutes to what many folks would consider confis- to pay for expenses and payroll.’’ If another active member of our com- catory in nature. So I rise in favor of rates were allowed to increase, would mittee, the gentleman from Texas (Mr. the bill that we are debating here that affect your ability to hire new em- DOGGETT). Mr. DOGGETT. Now is not the time today. I think that it is better policy— ployees? ‘‘Absolutely. We’ve done noth- to let the Republicans raise taxes on certainly better for our economy that ing except cut staff for 4 years now. A thousands of Texas families in order to we would not raise taxes on the Amer- tax increase could spell disaster.’’ provide more tax breaks for a privi- ican people. At this time I yield 3 minutes to a Mr. LEVIN. I now yield 2 minutes to distinguished member of the Ways and leged few. Republicans would hike the another distinguished member of our Means Committee, the gentleman from taxes by almost $500 for a married ma- rine corporal with 4 years of service committee, the gentleman from Cali- Washington (Mr. REICHERT). and two children living in Schertz. fornia (Mr. BECERRA). Mr. REICHERT. I thank the gen- Mr. BECERRA. Mr. Speaker, when tleman for yielding. b 1620 the Wall Street banking crisis of 2008 Mr. Speaker, most Americans think That’s wrong. Nor is this the time for hit, causing the worst recession since that the economy is moving in the Republicans to tax opportunity. A sin- the Great Depression, it was the middle wrong direction. And most of them gle mom, working as a nurse, helping a class that took it on the chin. More think it’s Congress’ fault, and that daughter attend the Alamo Colleges or than 8 million Americans lost their job we’ve not done enough to help them Texas State or ACC, would be denied through no fault of their own. And as take care of their families and give the $2,500 higher education tax credit millions of Americans were losing their them financial security. They don’t that I authored, all of this, in the very jobs and their homes, the big banks re- want political rhetoric today. They same bill that would give a Republican ceived bailouts and CEOs continued to don’t care who’s wrong or who’s right. who earns $1 million a tax cut that is receive million-dollar payouts. They want to know what we’re doing larger than that marine or that nurse While too many middle class Ameri- now, what we’re doing today to make will earn in an entire year. cans are still out looking for work, this buying groceries and gas and paying If there were an Olympic medal out Congress is voting again to give over the electric bill affordable. there for protecting those sitting atop $160,000 a year in tax breaks to the Mr. Speaker, if we don’t act, a family the economic ladder at the expense of richest 2 percent of Americans while of four that earns $50,000 a year will those trying to get a foothold on one of the average American will be lucky to have an increase in their taxes of $2,200 the first rungs, these Republicans get about one-100th or maybe two- every year. That’s real money, Mr. would have no competition for going 100ths of that. Can anyone in this Speaker. That’s the difference between for the gold. Chamber blame the middle class for buying an extra box of Cheerios and Nor has this trickle-down Republican thinking the system is rigged against paying the gas bill and saving for col- approach grown our jobs and our econ- them? lege. And for the job creators, the omy. Extending tax breaks for those at Mr. Speaker, we all admire financial mood is even worse. the very top, it was done in 2010, over success, but when we give away tril- We all know that small businesses my objection; it hasn’t grown jobs in lions in tax cuts that we cannot afford create jobs—every one of us in this the past year anymore than it helped to those who need them the least, it’s House knows small businesses create to avoid the Bush/Cheney recession. the middle class who has to make up jobs—but the Democrats would raise And as for this much ballyhooed the difference. To pay for these tax taxes on them, killing 700,000 jobs. I Ernst & Young report, it was bought cuts, our Republican colleagues have refuse to raise taxes on small busi- and paid for by the same millionaires voted to end Medicare and would force nesses while they struggle to bring our that would get a tax break bigger than seniors to pay $6,400 more for their own country out of this recession. I refuse what the nurse or the marine earns all care. On top of that, Republicans pro- to destroy over 700,000 jobs that sup- of next year, along with a few large pose changing Social Security, slash- port families who need and want bread- corporations who paid for the report. It ing its budget by over $800 million. It’s winners, not handouts. is not credible. an ideological agenda that chooses mil- We must ask ourselves every day: It is not just to see many Americans lionaires over the middle class. Reg- What else can we do for these families? pay higher taxes in order to help the ular folks pay more so that folks like We can offer them some long-term se- few gain even more tax breaks. Donald Trump and Mitt Romney can curity so that when they die, their Mr. CAMP. I yield 3 minutes to the get yet another tax break. families, their farms, and their small gentlewoman from Tennessee (Mrs. Einstein is credited with saying that businesses will survive and thrive. But BLACK), a distinguished member of the the definition of insanity is doing the tax increases don’t even stop when you Ways and Means Committee,

VerDate Mar 15 2010 04:07 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00058 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.081 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5585 Mrs. BLACK. Mr. Speaker, you know, The Democratic proposal, according this November between my Democratic when nearly 23 million Americans are to the nonpartisan Independent Joint colleagues across the aisle and this side struggling to find full-time employ- Tax Committee, provides tax relief to of the aisle. ment, President Obama and his Demo- 97 percent of the businesses that we’re My Democratic colleagues across the crat allies seem to think that now is talking about here. In fact, they point aisle raise taxes as part of the solution the time to raise taxes on small busi- out that the other 3 percent of busi- going forward. This side of the aisle, nesses. nesses include about 20,000 pass- I’m proud to stand, Mr. Speaker, to say And the President may be satisfied through businesses that make over $50 ‘‘no’’ to raising taxes on any American with an 8 percent or more unemploy- million a year. moving forward. ment rate for 41 straight months, but Now, they may be good businesses, Now, the gentleman had recognized I’m not and, more importantly, the but these are not mom-and-pop busi- and said that some of these tax in- American people are not. The Amer- nesses. The language we’re hearing creases that we’re talking about in re- ican people don’t need to settle for a from our Republican colleagues would gards to businesses are not the mom- country with fewer and fewer opportu- use small businesses as a cover to pro- and-pop shop. nities and a diminished future. viding breaks for firms like Fortune 100 Well, I’ll tell you something. I just So the House today will vote to stop Pipeline Company Enterprise Products had a conversation with Dick Clark the tax hike for all taxpayers, and to- Partners; PricewaterhouseCoopers, from my district, an owner of Villager morrow we will vote to move forward good business, not a mom-and-pop; Construction. That’s a mom-and-pop with a comprehensive tax reform. This KKR Investment Banking; and guess shop. Sterilator Company out of Cuba, is a critical step in providing the cer- what, Bain Capital, Bain Capital, the New York, in my district. That’s a tainty that our small businesses des- kind of small business that our Repub- mom-and-pop shop. Those are people perately need to grow and create jobs. lican colleagues are trying to protect. that have told me that one of their Now, the Democrats’ proposal to This is all really in service to the greatest concerns as small business raise taxes on nearly 1 million small trickle-down ideology. We tried it in owners is the tax burden that they’re businesses will cost more than 700,000 the Bush administration. At the end of going to face next year. jobs, and they have not even offered a 8 years we actually saw a net job loss. Let’s not stand for rhetoric. Let’s do plan on tax reform. This is more of the The SPEAKER pro tempore. The the responsible, prudent thing and say same failed leadership that has given time of the gentleman has expired. ‘‘no’’ to tax increases. And I leave it up us the weakest economic recovery Mr. LEVIN. I yield the gentleman an to the American people who I believe since the Great Depression. additional 15 seconds. are hardworking taxpayers who are not Democrats think that we are just one Mr. VAN HOLLEN. We tried trickle- stupid. They know what the distinction more tax increase away from pros- down. We lived it; we saw a net job will be by the end of this year and next perity. But when has a nation ever loss. But who picked up the tab? The year when they come to the voting taxed its way to prosperity? Prosperity rest of the country because it drove a booth in November, that we stand for is built by the American people, not huge hole in our deficit; and in order to no tax increases, and my colleagues on the government. American entre- deal with that, if we don’t ask folks at the other side of the aisle are going preneurs and small business owners are the top to pay a little bit more, the down the path of let’s raise taxes. the lifeblood of our American Dream, rest of the country ends up picking up and they’re the backbone of our econ- the tab. That’s just not right, and it Now is not the time to raise taxes in omy. doesn’t help the economy. an economic climate when people are It is clear that we must stop this tax Mr. CAMP. I yield myself 15 seconds. struggling and we’re trying to have the hike and reform our broken Tax Code I would just say that my friend’s pro- job creators have the capital so that to revive our struggling economy and posals just aren’t bold enough. The they can put people back to work for keep the American Dream alive. economy isn’t growing. Unemployment today and tomorrow. Mr. LEVIN. It is now my pleasure to is still above 8 percent for 40 consecu- yield 2 minutes to the gentleman from tive months. b 1630 We need to get on a plan for com- Maryland (Mr. VAN HOLLEN), our rank- Mr. LEVIN. I now yield 2 minutes to prehensive reform, not just raising ing member on the Budget Committee. the gentlelady from New York (Ms. Mr. VAN HOLLEN. Mr. Speaker, it’s taxes on a segment, not just pitting VELA´ ZQUEZ), who is the ranking mem- one group of Americans against an- very important everyone understand ber on the Committee on Small Busi- other. But let’s get a comprehensive re- the choice that’s facing the House ness and who has toiled in the vine- form so we can get certainty, we can today. The Democrats will offer an yards and beyond on behalf of the get job growth, we can get economic amendment that will immediately ex- small businesses of this country. tend tax relief to 100 percent of Amer- prosperity and get Americans back to Ms. VELA´ ZQUEZ. Thank you, Rank- ican people. The Senate has already work. ing Member, for yielding. passed that proposal; and if our Repub- I yield 2 minutes to the distinguished lican colleagues vote for it today, we gentleman from New York (Mr. REED), Mr. Speaker, I rise in opposition to can send it down to the White House, a member of the Ways and Means Com- the bill before us today. the President will sign it today. mittee. Republicans love to focus on small Someone asked what we’re going to Mr. REED. Mr. Speaker, I rise today businesses when it’s convenient for do today. We could provide immediate in support of the proposed legislation them. They claim it is imperative to tax relief to 98 percent of the American to make sure that we do not increase pass today’s bill because, if we don’t, people. taxes on any Americans come the end small firms will be harmed. However, Now, let’s be clear. The Democratic of this year. I think it’s prudent, it’s today’s bill is only good for million- proposal provides tax relief to every- responsible, and it’s the right message aires and billionaires, not the Nation’s body up to $250,000. What our Repub- to send to America, that we are going job creators. lican colleagues are saying is they will to stand with every American and The argument that a partial exten- deny tax relief to 98 percent of the every small business owner across the sion of tax cuts hinders small business American people, unless people making country and say, end of the year, no hiring relies on distorted facts. Repub- over $250,000 get a bonus, an extra tax tax increases. licans are using a warped definition of cut. In other words, unless the top 2 And I appreciate my colleagues on a ‘‘small firm’’ that counts Mitt Rom- percent get an extra tax cut, nobody the other side of the aisle and their ney as a small business owner. I don’t else gets anything. passion and their commitment to rais- think the average person considers 237 It gets worse. We’ve heard a lot of ing taxes. They get to choose which people whose incomes average more talk here about small businesses, that threshold, 200, $250,000 or more. But it’s than $200 million as small business we need to adopt the Republican plan clear to me that there’s a clear distinc- owners. in order to support small businesses. tion that the American people will Contrary to Republican claims, this It’s just not true. have an opportunity to decide come is not what the American taxpayers

VerDate Mar 15 2010 04:07 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00059 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.082 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5586 CONGRESSIONAL RECORD — HOUSE August 1, 2012 think of when they hear ‘‘small busi- to take a look at what’s going on in The issue is not whether we should ness.’’ When most people think of en- the State of Illinois, we are dead last in tax one group more and then distribute trepreneurs, they envision small manu- too many categories. We are not cre- that to another group. That doesn’t facturers, architects, Main Street res- ating jobs. Jobs are picking up and create more jobs, and that doesn’t cre- taurants, and hardware stores—those they’re going to neighboring States. ate more stability. That doesn’t pull us Americans who risk their savings to They’re leaving because we’ve decided out of a recession. That only makes create jobs in our communities. Tax to take more from hardworking tax- one group feel better that they took cuts should go to real small businesses payers in the State of Illinois. money from another group and gave it that are creating jobs, not to people What we want to do is to make sure to another. who are simply moving money around that we extend these for an additional There are really two philosophies for their own profits. year so that we can have real tax re- that are at work here. We want to Instead of addressing the top concern form. That’s what this is about. We make this debate about taxes, but it’s of small business owners—a lack of de- want to talk about pro-growth tax poli- really a philosophical issue. One group mand for their goods and services—this cies so that we can get the American says that the purpose of taxation is to bill simply gives more tax cuts to the public back to work. This is about jobs take from one group and redistribute very rich. The numbers don’t lie. Over and the economy. to another one to make America fair. 80 percent of the value of these cuts Frankly, I tip my hat to my col- The other group, that of the Repub- goes to millionaires. That is an average leagues because, when I talk to my col- licans, says the purpose of taxation is tax cut of $164,000. leagues on the other side of the aisle, to collect as little as possible in order Let’s call this bill what it really is— they also indicate to me that the num- to efficiently run the government so a tax cut for the rich, not for small ber one issue is jobs and the economy. that individuals are able to keep their The SPEAKER pro tempore. The businesses. That is not what our econ- money. We became the most powerful, time of the gentleman has expired. omy needs. Vote ‘‘no.’’ prosperous nation on Earth because Mr. CAMP. I yield the gentleman an Mr. CAMP. Mr. Speaker, how much Americans were able to keep what they additional 15 seconds. time is remaining? earned, were able to invest it into The SPEAKER pro tempore. The gen- Mr. DOLD. Let’s come together. Let’s not talk about how we want to other things and were able to grow it. tleman from Michigan (Mr. CAMP) has Here is the real proposal: one, keep 1 raise taxes on the middle class because, 5 ⁄2 minutes remaining. The gentleman tax rates the same for another year; 3 frankly, that’s just inaccurate, not from Michigan (Mr. LEVIN) has 2 ⁄4 min- two, fix the broken Code. utes remaining. true. We are looking to try to make sure these get extended for an addi- There are 70,000 pages—3.8 million Mr. CAMP. I yield 2 minutes to the words—in this Tax Code. It needs to be distinguished gentleman from Illinois tional year so that we can talk about pro-growth tax reform and get people fixed. It’s miserably complicated. No (Mr. DOLD). Americans feel confident that when Mr. DOLD. I certainly thank the off of the unemployment lines and back they file their taxes they got it all chairman for his leadership on this. to work. right. We’ve got to fix this Code and be Mr. Speaker, I’m confused. I think So I applaud you for trying to get up able to simplify it dramatically. It’s my colleagues on the other side of the there and plead your political point, going to take time to do that. So let’s aisle haven’t read what H.R. 8 is. They but we need to come together. We need extend rates for another year, and then keep talking about how my colleagues to make this happen for the American let’s spend next year fixing the Code. and I are looking to try to raise taxes public. Let’s get this right for all Americans, on a segment of the population. Actu- Mr. LEVIN. How much time is left on not just for some. ally, what this does is extend current this bill? The SPEAKER pro tempore. The gen- tax rates for everyone—for every single Mr. LEVIN. I now yield the balance tleman from Michigan (Mr. LEVIN) has American. I can tell you that, for peo- of my time on this bill to the distin- 23⁄4 minutes remaining. The gentleman ple all across the country right now, guished whip, the gentleman from from Michigan (Mr. CAMP) has 31⁄4 min- foreclosures are up. They’re concerned Maryland (Mr. HOYER). utes remaining. The SPEAKER pro tempore. The gen- about how they will send their kids to Mr. LEVIN. We have one more speak- school. We’ve got energy prices that tleman from Maryland is recognized er on this. for the remaining 23⁄4 minutes. are on the rise. We want to make sure Mr. CAMP, do you have more than that the government is not taking Mr. HOYER. Designed to fail. That’s one? what this bill is. It is designed to fail. more from them. Mr. CAMP. I have one more speaker Very frankly, you made sure that it I have to tell you that I think what and then myself. we’re talking about right now is trying Mr. LEVIN. Why don’t you call on was going to fail when you passed the amendment that added the reform bill to empower the American people. We the one, and then Mr. HOYER is going want to make sure that we have up- to wrap up on this bill. and this bill together. ward mobility. We want to try to cre- Mr. CAMP. I yield 2 minutes to the Designed to fail. How sad. ate growth in our economy. distinguished gentleman from Okla- I don’t think you want to raise taxes Mr. Speaker, in 2010, the President of homa (Mr. LANKFORD). on anybody. I understand that. I’ll ac- the United States came before the Mr. LANKFORD. There has been a cept that premise. What we ought to do American public and said that our tremendous amount of rhetoric and hy- is to make sure, in the agreement that economy was too fragile. The President perbole in the conversation today—all we have with the Senate and the said that our economy is fragile and this energy about how we are trying to House, that at least the 98 percent of that we should extend these tax rates. raise taxes on different groups. Let’s Americans who make less than $250,000 That’s when the economy was growing clear this up. have no increase in their taxes. At at 31⁄2 percent, Mr. Speaker. The Com- This is about keeping the rates the least we ought to do that. America merce Department just came out with same for another year for all Ameri- knows we have agreement on that. statistics that we are growing at 11⁄2 cans. Really, this debate is not about They’re wondering why, when you have percent today. There is no way in the tax rates. What my colleagues on the agreement, you don’t take that agree- world that we should be taking more other side of the aisle seem to identify ment and give the assurance and cer- out of the pockets of the American as the problem is that some people in tainty to 98 percent of the American public. It’s just not feasible. America have too much money and working people that they won’t have Two-thirds of all net new jobs are that the solution to fix this problem is an increase in their taxes so that created by small businesses, but this for people to go down the street and they’ll have the confidence that they’ll isn’t just for small businesses—this is find someone with a bigger house and have that money in their pockets to, for every single American. We’re run- take some of their stuff and bring it to perhaps, purchase that refrigerator ning the experiment today. If you want the other house. Then the problems in that they need or that oven that they to talk about higher taxes—more tak- America would be solved. Things would need or perhaps a new car or so that ing in the State of Illinois—if you want be fair. they can help their kids go to college.

VerDate Mar 15 2010 04:07 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00060 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.086 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5587 Why don’t we give them that con- Tax Credit and Earned Income Tax Credit to Mr. LANGEVIN. Mr. Speaker, I rise in strong fidence, I say to my friends. Mr. Speak- expire while eliminating the American Oppor- opposition to the Republican tax proposal. er, I wish we would do so. tunity Tax Credit. Their plan will give more tax breaks for the Today, we could embrace the agree- That lies in stark contrast to the $160,000 richest 2 percent, providing $160,000 for the ment that the Senate has come to and tax cut this bill would deliver to the average average millionaire—on top of the $1 million tell the 98 percent, ‘‘You’re safe.’’ In millionaire, according to the National Eco- that they received over the last 9 years. addition to that, by rejecting this bill, nomic Council. A hundred and sixty thousand dollars we will reject taking money out of 25 Mr. Speaker I urge my colleagues to join me means different things to different people. For million people’s pockets that they rely in defeating this bill, and I call on Republicans 464 Rhode Island veterans, it means access on to support themselves and their to work with us to pass the tax cut extension to employment and job training services; for children. for the middle class on which we all agree. 2,340 Rhode Island parents, it means immuni- Mr. CAMP. Mr. Speaker, I yield my- b 1640 zations for their children against Measles, self the balance of my time. Mumps, and the flu; and for Rhode Island’s That’s what the Senate bill does. It I would just say this isn’t just about youth, it means 25 more students get a leg up protects the wealthiest in America taxes. I would agree with my friend through Head Start. But for millionaires, while telling some of the poorest in from Maryland, Republicans do not $160,000 simply represents the additional gift America, the least well-off in America, want to raise taxes on small busi- they receive under the Republican tax pro- you’re going to pay more, you’re going nesses, job creators, or investors be- posal. to get less. How perverse. How under- cause it’s also about the economy. A hundred and sixty thousand dollars is a mining of our economy. How under- This has been a dismal recovery, the lot of money, and it can go a long way to- mining of the confidence of our people. worst since the Great Depression; and wards improving the lives and opportunities of Ladies and gentlemen of this House, unemployment has been above 8 per- Rhode Islanders. While every program I men- we’re better than this. cent for 40 consecutive months. Their tioned is on the chopping block, Republicans Newt Gingrich talked some years ago answer is to raise taxes on the small seem complacent to mortgage our children in 1998 about the ‘‘Perfectionist Cau- business sector, the area where we need and grandchildren’s future to preserve these cus.’’ Mr. Speaker, he said embrace to have those jobs to begin to be cre- tax cuts for the wealthiest top two percent at agreement. He was agreeing with Presi- ated. What we’re saying is let’s keep a cost of $1 trillion. These are tax cuts we dent Clinton and Newt Gingrich at that the law the same for 1 year. We’re the simply cannot afford. In fact, if we want to talk point in time on a budget which adopt- only Nation in the world that has all of about responsible deficit reduction, this would ed PAYGO one more time, which is one these tax provisions expiring year in be an excellent place to start. of the reasons why we balanced the and year out. Let’s leave this the same Democrats and Republicans do agree on budget 4 years in a row. The House for 1 year, then let’s move and adopt one thing;—the need to extend tax cuts for the Ways and Means bill leaves 98 percent comprehensive tax reform in an expe- middle class and small businesses, which is of our people at risk, while our bill dited procedure to do that so we can exactly what the Democratic proposal will do. gives 100 percent of the people a tax finish that next year. Under the Democratic plan, every single tax- cut. If we go down their path of raising payer will receive a tax cut on income earned Let us reject the House bill. Let us taxes on small businesses, 700,000 jobs up to $200,000 if you are single, and adopt the substitute. Let us send it to will be lost. If we go down our path of $250,000 if you are married. the Senate and make it law. The Presi- extending current law for a year, bring- For our middle class families, this translates dent will sign it, and it can become law ing certainty, extending that law for a to an extra $2,200 in their pockets. And even and give confidence and help to those year, moving forward on comprehen- high-income households will continue to re- 98 percent of Americans. sive reform, addressing some spending ceive a tax cut averaging more than $10,000 This Republican proposal, is not the problems we know this Nation has had, on their first $250,000 of income. straight-forward tax cut extension middle-class 3 years of trillion-dollar deficits, if we No one thinks raising taxes on the middle families and small business owners are asking do that, we create a million jobs. class is a good idea. Right now, my top pri- for. Vote for H.R. 8. ority is giving middle-class families and our Instead it extends tax cuts to even the high- Mr. GINGREY of Georgia. Mr. Speaker, I small businesses the security and certainty est incomes, a plan already rejected by the rise in strong support of H.R. 8, the Job Pro- they deserve by extending tax cuts they des- Senate and which the President has said he tection and Recession Prevention Act of 2012. perately need. This should be an issue where would veto. In August of 2009, President Obama told NBC Republicans and Democrats can work to- Moving forward with this legislation will only News, ‘‘You don’t raise taxes in a recession.’’ gether to do what is right for hard-working prolong the uncertainty the American people Quite frankly, I agree with the President and Americans. have asked us to end. would take it a step further. We should never I urge my colleagues to reject the Repub- What we ought to do—before the August raise taxes at all, period. lican plan that continues down the same fis- district work period—is pass the extension Unfortunately, if we do nothing before the cally irresponsible path. Give our small busi- where we have agreement—for earnings end of the year, we risk raising taxes on nesses and working families the certainty they under $250,000, which is a tax cut for 100 Americans by $384 billion over the next ten deserve, and support the Democratic plan to percent of Americans. years according to the Joint Committee on cut taxes for everyone and help move the Ninety eight percent of families and 97 per- Taxation. For my home State of Georgia economy forward. cent of small businesses will see no change to alone, this would represent a tax increase of Mr. STARK. Mr. Speaker, I rise in opposi- their taxes. $3,010 per tax return. At a time when we have tion to H.R. 8. I cannot support legislation that Let’s pass what we agree on now and after- had 41 straight months of unemployment, it prioritizes millionaires over middle class fami- ward debate what we disagree on. would be irresponsible to place an additional lies. By bringing this legislation to the floor, Instead, we’ve seen Republicans insist on burden on working families and job creators, Republicans hold hostage the middle class tax an all or nothing approach, which has held particularly when Ernst & Young recently re- cuts in order to help those who need it least. middle-class tax relief hostage to tax cuts for leased a study stating that this tax increase If enacted, this bill would give millionaires an the top 2 percent. would destroy 700,000 jobs. average tax cut of $160,000 next year. Hedge Now, they are doing so once again, with a Mr. Speaker, House Republicans have a fund managers and corporate CEOs who rule on this bill that makes it harder for us to simple solution. H.R. 8 will prevent this loom- make up the wealthiest 2 percent of this coun- reach an agreement to prevent a tax hike on ing tax increase on all Americans, especially try do not need a massive tax break. The Re- the middle class. the 1 million small business entrepreneurs that publican tax plan on the floor today not only This is not the regular order or open proc- would likely feel the pain the most. favors millionaires, it takes away tax programs ess Speaker BOEHNER and Republicans cam- To all of my colleagues, we have a clear that help working families. Under this legisla- paigned on and pledged to uphold in this choice today. You can either support H.R. 8 to tion, 25 million families and college students in House. prevent a $384 billion tax increase, or you this country will lose as much as $1,000 be- At the same time, this bill would impose an could oppose this legislation, endorse these cause of cuts to the Earned Income Tax Cred- average tax hike of $1,000 on 25 million work- tax increases and destroy 700,000 jobs in the its, the Child Tax Credit, and the American ing families by allowing the expanded Child process. The choice is yours. Opportunity Tax Credit. It is these lower and

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middle income families that deserve our help. TITLE II—ALTERNATIVE MINIMUM TAX ‘‘(iv) 1⁄2 the amount applicable under clause It is time to start creating a tax code that re- RELIEF (i) (after adjustment, if any, under subpara- flects our values by ensuring that every indi- Sec. 201. Temporary extension of increased graph (E)) in the case of subsection (d). ‘‘(D) FOURTH RATE BRACKET.—For purposes vidual pays their fair share. alternative minimum tax exemption amount. of this paragraph, the term ‘fourth rate I stand with the House Democrats, the Sen- Sec. 202. Temporary extension of alter- bracket’ means the bracket which would (de- ate and the President in supporting an exten- native minimum tax relief for non- termined without regard to this paragraph) sion of the middle class tax cuts. Working refundable personal credits. be the 36-percent rate bracket. Americans are facing high unemployment and TITLE III—TREATMENT FOR PAYGO ‘‘(E) INFLATION ADJUSTMENT.—For purposes of this paragraph, with respect to taxable stagnant wages. They should have the cer- PURPOSES years beginning in calendar years after 2012, tainty to know that they will not face a tax in- Sec. 301. Treatment for PAYGO purposes. each of the dollar amounts under clauses (i), crease next year. Extending the middle class TITLE I—TEMPORARY EXTENSION OF TAX (ii), and (iii) of subparagraph (C) shall be ad- tax cuts means helping 114 million middle RELIEF justed in the same manner as under para- class families, including 13.2 million in Cali- SEC. 101. TEMPORARY EXTENSION OF 2001 TAX graph (1)(C), except that subsection (f)(3)(B) fornia. If the House extends the middle class RELIEF. shall be applied by substituting ‘2008’ for tax cuts—already passed by the Senate— (a) TEMPORARY EXTENSION.— ‘1992’.’’. (1) IN GENERAL.—Section 901(a)(1) of the (2) PHASEOUT OF PERSONAL EXEMPTIONS AND these families will save an average of $2,200 Economic Growth and Tax Relief Reconcili- ITEMIZED DEDUCTIONS.— on next year’s taxes. ation Act of 2001 is amended by striking ‘‘De- (A) OVERALL LIMITATION ON ITEMIZED DE- This country cannot afford to keep giving cember 31, 2012’’ and inserting ‘‘December 31, DUCTIONS.—Section 68 is amended— out tax breaks to the wealthy and large cor- 2013’’. (i) by striking ‘‘the applicable amount’’ the porations. This Republican bill adds another (2) EFFECTIVE DATE.—The amendment first place it appears in subsection (a) and in- made by this subsection shall take effect as $50 billion to our deficit in just one year. This serting ‘‘the applicable threshold in effect if included in the enactment of the Economic under section 1(i)(3)’’, is the wrong approach and is just plain irre- Growth and Tax Relief Reconciliation Act of (ii) by striking ‘‘the applicable amount’’ in sponsible. We need to strengthen the middle 2001. subsection (a)(1) and inserting ‘‘such applica- class, put people back to work, and grow our (b) APPLICATION TO CERTAIN HIGH-INCOME ble threshold’’, economy. The first step is introducing fairness TAXPAYERS.— (iii) by striking subsection (b) and redesig- to our tax code and helping the middle class (1) INCOME TAX RATES.— nating subsections (c), (d), and (e) as sub- (A) TREATMENT OF 25- AND 28-PERCENT RATE Americans who work hard and play by the sections (b), (c), and (d), respectively, and BRACKETS.—Paragraph (2) of section 1(i) is (iv) by striking subsections (f) and (g). rules. I urge my colleagues to join me in vot- amended to read as follows: (B) PHASEOUT OF DEDUCTIONS FOR PERSONAL ing against the Republican giveaway to the ‘‘(2) 25- AND 28-PERCENT RATE BRACKETS.— EXEMPTIONS.— most wealthy and to instead support the The tables under subsections (a), (b), (c), (d), (i) IN GENERAL.—Paragraph (3) of section Democratic substitute which protects the mid- and (e) shall be applied— 151(d) is amended— dle class. ‘‘(A) by substituting ‘25%’ for ‘28%’ each (I) by striking ‘‘the threshold amount’’ in place it appears (before the application of The SPEAKER pro tempore (Mr. subparagraphs (A) and (B) and inserting ‘‘the subparagraph (B)), and applicable threshold in effect under section BASS of New Hampshire). All time for ‘‘(B) by substituting ‘28%’ for ‘31%’ each 1(i)(3)’’, debate has expired. place it appears.’’. (II) by striking subparagraph (C) and redes- (B) 33-PERCENT RATE BRACKET.—Subsection AMENDMENT IN THE NATURE OF A SUBSTITUTE ignating subparagraph (D) as subparagraph (i) of section 1 is amended by redesignating OFFERED BY MR. LEVIN (C), and paragraph (3) as paragraph (4) and by insert- (III) by striking subparagraphs (E) and (F). Mr. LEVIN. I now call up the sub- ing after paragraph (2) the following new (ii) CONFORMING AMENDMENTS.—Paragraph stitute amendment. paragraph: (4) of section 151(d) is amended— The SPEAKER pro tempore. The ‘‘(3) 33-PERCENT RATE BRACKET.— (I) by striking subparagraph (B), ‘‘(A) IN GENERAL.—In the case of taxable Clerk will designate the amendment. (II) by redesignating clauses (i) and (ii) of years beginning after December 31, 2012— subparagraph (A) as subparagraphs (A) and The text of the amendment is as fol- ‘‘(i) the rate of tax under subsections (a), (B), respectively, and by indenting such sub- lows: (b), (c), and (d) on a taxpayer’s taxable in- paragraphs (as so redesignated) accordingly, come in the fourth rate bracket shall be 33 and Strike all after the enacting clause and in- percent to the extent such income does not sert the following: (III) by striking all that precedes ‘‘in a cal- exceed an amount equal to the excess of— endar year after 1989,’’ and inserting the fol- SECTION 1. SHORT TITLE; ETC. ‘‘(I) the applicable amount, over lowing: ‘‘(II) the dollar amount at which such (a) SHORT TITLE.—This Act may be cited as ‘‘(4) INFLATION ADJUSTMENT.—In the case of the ‘‘Middle Class Tax Cut Act’’. bracket begins, and any taxable year beginning’’. ‘‘(ii) the 36 percent rate of tax under such (c) EFFECTIVE DATE.—Except as otherwise (b) AMENDMENT OF 1986 CODE.—Except as subsections shall apply only to the tax- provided, the amendments made by this sec- otherwise expressly provided, whenever in payer’s taxable income in such bracket in ex- tion shall apply to taxable years beginning this Act an amendment or repeal is ex- cess of the amount to which clause (i) ap- after December 31, 2012. pressed in terms of an amendment to, or re- plies. (d) APPLICATION OF EGTRRA SUNSET.— peal of, a section or other provision, the ref- ‘‘(B) APPLICABLE AMOUNT.—For purposes of erence shall be considered to be made to a this paragraph, the term ‘applicable amount’ Each amendment made by subsection (b) section or other provision of the Internal means the excess of— shall be subject to title IX of the Economic Revenue Code of 1986. ‘‘(i) the applicable threshold, over Growth and Tax Relief Reconciliation Act of (c) TABLE OF CONTENTS.—The table of con- ‘‘(ii) the sum of the following amounts in 2001 to the same extent and in the same man- tents of this Act is as follows: effect for the taxable year: ner as if such amendment was included in title I of such Act. Sec. 1. Short title; etc. ‘‘(I) the basic standard deduction (within the meaning of section 63(c)(2)), and SEC. 102. TEMPORARY EXTENSION OF 2003 TAX TITLE I—TEMPORARY EXTENSION OF ‘‘(II) the exemption amount (within the RELIEF. TAX RELIEF meaning of section 151(d)(1) (or, in the case (a) EXTENSION.— Sec. 101. Temporary extension of 2001 tax of subsection (a), 2 such exemption (1) IN GENERAL.—Section 303 of the Jobs relief. amounts). and Growth Tax Relief Reconciliation Act of Sec. 102. Temporary extension of 2003 tax ‘‘(C) APPLICABLE THRESHOLD.—For purposes 2003 is amended by striking ‘‘December 31, relief. of this paragraph, the term ‘applicable 2012’’ and inserting ‘‘December 31, 2013’’. Sec. 103. Temporary extension of 2010 tax threshold’ means— (2) EFFECTIVE DATE.—The amendment relief. ‘‘(i) $250,000 in the case of subsection (a), made by this subsection shall take effect as Sec. 104. Temporary extension of election ‘‘(ii) $225,000 in the case of subsection (b), if included in the enactment of the Jobs and to expense certain depreciable business ‘‘(iii) $200,000 in the case of subsections (c), Growth Tax Relief Reconciliation Act of assets. and 2003.

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(b) 20-PERCENT CAPITAL GAINS RATE FOR (1) IN GENERAL.—Section 25A(i) is amended (b) EFFECTIVE DATE.—The amendments CERTAIN HIGH INCOME INDIVIDUALS.— by striking ‘‘or 2012’’ and inserting ‘‘2012, or made by this section shall apply to taxable (1) IN GENERAL.—Paragraph (1) of section 2013’’. years beginning after December 31, 2011. 1(h) is amended by striking subparagraph (2) TREATMENT OF POSSESSIONS.—Section SEC. 202. TEMPORARY EXTENSION OF ALTER- (C), by redesignating subparagraphs (D) and 1004(c)(1) of division B of the American Re- NATIVE MINIMUM TAX RELIEF FOR (E) as subparagraphs (E) and (F) and by in- covery and Reinvestment Tax Act of 2009 is NONREFUNDABLE PERSONAL CRED- serting after subparagraph (B) the following amended by striking ‘‘and 2012’’ each place it ITS. new subparagraphs: appears and inserting ‘‘2012, and 2013’’. (a) IN GENERAL.—Paragraph (2) of section ‘‘(C) 15 percent of the lesser of— (b) CHILD TAX CREDIT.—Section 24(d)(4) is 26(a) is amended— ‘‘(i) so much of the adjusted net capital amended— (1) by striking ‘‘or 2011’’ and inserting gain (or, if less, taxable income) as exceeds (1) by striking ‘‘AND 2012’’ in the heading ‘‘2011, or 2012’’, and the amount on which a tax is determined and inserting ‘‘2012, AND 2013’’, and (2) by striking ‘‘2011’’ in the heading thereof under subparagraph (B), or (2) by striking ‘‘or 2012’’ and inserting and inserting ‘‘2012’’. ‘‘(ii) the excess (if any) of— ‘‘2012, or 2013’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable ‘‘(I) the amount of taxable income which (c) EARNED INCOME TAX CREDIT.—Section would (without regard to this paragraph) be 32(b)(3) is amended— years beginning after December 31, 2011. taxed at a rate below 36 percent, over (1) by striking ‘‘AND 2012’’ in the heading TITLE III—TREATMENT FOR PAYGO ‘‘(II) the sum of the amounts on which a and inserting ‘‘2012, AND 2013’’, and PURPOSES tax is determined under subparagraphs (A) (2) by striking ‘‘or 2012’’ and inserting SEC. 301. TREATMENT FOR PAYGO PURPOSES. and (B), ‘‘2012, or 2013’’. The budgetary effects of this Act shall not ‘‘(D) 20 percent of the adjusted net capital (d) TEMPORARY EXTENSION OF RULE DIS- be entered on either PAYGO scorecard main- gain (or, if less, taxable income) in excess of REGARDING REFUNDS IN THE ADMINISTRATION tained pursuant to section 4(d) of the Statu- the sum of the amounts on which tax is de- OF FEDERAL PROGRAMS AND FEDERALLY AS- tory Pay-As-You-Go Act of 2010. termined under subparagraphs (B) and (C),’’. SISTED PROGRAMS.—Subsection (b) of section The SPEAKER pro tempore. Pursu- (2) MINIMUM TAX.—Section 55 is amended 6409 is amended by striking ‘‘December 31, ant to House Resolution 747, the gen- by adding at the end the following new sub- 2012’’ and inserting ‘‘December 31, 2013’’. tleman from Michigan (Mr. LEVIN) and section: (e) EFFECTIVE DATES.— a Member opposed each will control 10 ‘‘(f) 20-PERCENT CAPITAL GAINS RATE FOR (1) IN GENERAL.—Except as provided in CERTAIN HIGH INCOME INDIVIDUALS.— paragraph (2), the amendments made by this minutes. ‘‘(1) IN GENERAL.—In the case of any indi- section shall apply to taxable years begin- Mr. CAMP. Mr. Speaker, I claim the vidual, if the taxpayer’s taxable income for ning after December 31, 2012. time in opposition. the taxable year exceeds the applicable (2) RULE DISREGARDING REFUNDS IN THE AD- Mr. LEVIN. Could the Chair be clear amount determined under section 1(i) with MINISTRATION OF CERTAIN PROGRAMS.—The as to who has the right to close on this respect to such taxpayer for such taxable amendment made by subsection (d) shall amendment? year, the amount determined under para- apply to amounts received after December The SPEAKER pro tempore. The gen- graph (2) shall be substituted for the amount 31, 2012. tleman from Michigan (Mr. CAMP) has determined under subsection (b)(3)(C) for SEC. 104. TEMPORARY EXTENSION OF ELECTION purposes of determining the taxpayer’s ten- the right to close. TO EXPENSE CERTAIN DEPRE- The Chair recognizes the gentleman tative minimum tax for such taxable year. CIABLE BUSINESS ASSETS. from Michigan (Mr. LEVIN). ‘‘(2) DETERMINATION OF 20-PERCENT CAPITAL (a) IN GENERAL.— GAINS RATE.—The amount determined under (1) DOLLAR LIMITATION.—Section 179(b)(1) is Mr. LEVIN. I now yield 2 minutes to this paragraph is the sum of— amended— another Member of our committee, the ‘‘(A) 15 percent of the lesser of— (A) by striking ‘‘and’’ at the end of sub- distinguished gentleman from Georgia ‘‘(i) so much of the adjusted net capital paragraph (C), (Mr. LEWIS). gain (or, if less, taxable excess) as exceeds (B) by redesignating subparagraph (D) as Mr. LEWIS. Mr. Speaker, I want to the amount on which tax is determined subparagraph (E), thank Mr. LEVIN for yielding. under subsection (b)(3)(B), or (C) by inserting after subparagraph (C) the After 2 years of talking about spend- ‘‘(ii) the excess described in section following new subparagraph: ing cuts and deficit reduction, Repub- 1(h)(1)(C)(ii), plus ‘‘(D) $250,000 in the case of taxable years licans somehow believe it is wise to fill ‘‘(B) 20 percent of the adjusted net capital beginning in 2013, and’’, and gain (or, if less, taxable excess) in excess of (D) in subparagraph (E), as so redesignated, the pockets of each and every million- the sum of the amounts on which tax is de- by striking ‘‘2012’’ and inserting ‘‘2013’’. aire in America with an additional termined under subparagraph (A) and sub- (2) REDUCTION IN LIMITATION.—Section $160,000 tax cut. We’ve been here before. section (b)(3)(B).’’. 179(b)(2) is amended— This is the same picture. Mr. Speaker, (c) CONFORMING AMENDMENTS.— (A) by striking ‘‘and’’ at the end of sub- we all know what this is about. This is (1) The following provisions are each paragraph (C), about two competing visions of Amer- amended by striking ‘‘15 percent’’ and insert- (B) by redesignating subparagraph (D) as ing ‘‘20 percent’’: ica. The Democratic vision is oppor- subparagraph (E), tunity for all Americans to prosper, (A) Section 531. (C) by inserting after subparagraph (C) the (B) Section 541. following new subparagraph: while the Republican vision reserves (C) Section 1445(e)(1). ‘‘(D) $800,000 in the case of taxable years prosperity for the select few. (D) The second sentence of section beginning in 2013, and’’, and That is not right, Mr. Speaker. That 7518(g)(6)(A). (D) in subparagraph (E), as so redesignated, is not fair. That is not just. American (E) Section 53511(f)(2) of title 46, United by striking ‘‘2012’’ and inserting ‘‘2013’’. hardworking families need tax relief, States Code. (b) COMPUTER SOFTWARE.—Section and they need it now. Not tomorrow, (2) Section 1445(e)(6) is amended by strik- 179(d)(1)(A)(ii) is amended by striking ‘‘2013’’ not next week, not next month, not ing ‘‘15 percent (20 percent in the case of tax- and inserting ‘‘2014’’. able years beginning after December 31, next year, but now. If you believe in a (c) ELECTION.—Section 179(c)(2) is amended strong, solid middle class, vote ‘‘no’’ on 2010)’’ and inserting ‘‘20 percent’’. by striking ‘‘2013’’ and inserting ‘‘2014’’. (d) EFFECTIVE DATES.— (d) EFFECTIVE DATE.—The amendments this bill. If you believe in American op- (1) IN GENERAL.—Except as otherwise pro- made by this section shall apply to taxable portunity, vote ‘‘no’’ on this bill. If vided, the amendments made by subsections years beginning after December 31, 2012. you’re serious about reducing the def- (b) and (c) shall apply to taxable years begin- icit, vote ‘‘no’’ on this bill. I urge all of ning after December 31, 2012. TITLE II—ALTERNATIVE MINIMUM TAX RELIEF my colleagues to vote ‘‘no’’ on this bill (2) WITHHOLDING.—The amendments made by paragraphs (1)(C) and (2) of subsection (c) SEC. 201. TEMPORARY EXTENSION OF IN- and to vote ‘‘yes’’ on the Levin amend- shall apply to amounts paid on or after Jan- CREASED ALTERNATIVE MINIMUM ment. It is simply the right thing to uary 1, 2013. TAX EXEMPTION AMOUNT. do. (e) APPLICATION OF JGTRRA SUNSET.— (a) IN GENERAL.—Paragraph (1) of section We can do much better by voting for Each amendment made by subsections (b) 55(d) is amended— the Levin amendment. It is the right and (c) shall be subject to section 303 of the (1) by striking ‘‘$72,450’’ and all that fol- thing to do. It is the fair thing to do. It lows through ‘‘2011’’ in subparagraph (A) and Jobs and Growth Tax Relief Reconciliation is the just thing to do. We should do it Act of 2003 to the same extent and in the inserting ‘‘$78,750 in the case of taxable years same manner as if such amendment was in- beginning in 2012’’, and and do it now. cluded in title III of such Act. (2) by striking ‘‘$47,450’’ and all that fol- Mr. CAMP. Mr. Speaker, I yield my- SEC. 103. TEMPORARY EXTENSION OF 2010 TAX lows through ‘‘2011’’ in subparagraph (B) and self such time as I may consume. RELIEF. inserting ‘‘$50,600 in the case of taxable years Let me just say that this substitute (a) AMERICAN OPPORTUNITY TAX CREDIT.— beginning in 2012’’. increases taxes, and it increases taxes

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00063 Fmt 4634 Sfmt 0634 E:\CR\FM\A01AU7.032 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5590 CONGRESSIONAL RECORD — HOUSE August 1, 2012 on small businesses, the very sector b 1650 the Tax Code, and deal with the issue that we need to be growing to bring us Mr. LEVIN. I yield the gentleman 1 of comprehensive tax reform over the out of this recession. It does not in- additional minute. next 12 months, and put no Americans clude tax reform. There’s no path to Mr. CROWLEY. I want to be very in harm in having their tax bill in- tax reform. Our Tax Code has had 5,000 clear about this, Mr. Speaker. The creased at the end of this year. changes in the last decade. The com- earned income tax credit under the Re- Mr. LEVIN. It’s now my real pleasure plexity is making it difficult for Amer- publican bill would only be $2,390. Now to yield 2 minutes to the gentleman icans to know what their responsibil- when I do the math, that means that from Connecticut (Mr. LARSON) who is ities are. They suspect others get a bet- under the Republican bill, that ser- the chair of our caucus and an active ter deal under the Tax Code because of geant and his or her family would have member of our committee. the complexity. If we can take that a $1,118 tax increase. You can’t get Mr. LARSON of Connecticut. I thank away and move to a system that has a around it. Those are the facts. Those the distinguished ranking member. lower rate, revenue neutral, that closes are the numbers. They speak loud and This debate today is extraordinarily off some of these 5,000 changes that clear. And not a single one of my col- informative. This isn’t about Demo- have been made in the last few years, leagues on the other side of the aisle crats or Republicans. This is about sav- we can create a million jobs in the first refuted that. ing and preserving our middle class. year alone. We have refuted the $250,000 issue as Lauren Mishkin from Connecticut, a One of the things that led us into this it pertains to small business owners. mother who recently came up to talk recession is the housing crisis. Here we The reality is, the men and women on to me about student loans, said, ‘‘When have a letter from the National Asso- the front lines defending this democ- only the rich can follow their dreams, ciation of Home Builders saying that racy, defending our freedom, defending we have a problem.’’ housing can be a key engine of job our way of life, allowing for small busi- So here today, we face a very clear growth that this country needs. How- nessmen and -women to prosper in this choice that I think all Americans un- ever, the recovery we’re seeing remains country, they’re not worth a tax break. derstand. We should be able to come to- fragile. As the rest of the economy is Your bill increases taxes on our mili- gether as Democrats and Republicans experiencing softening conditions, now tary men and women. There’s no get- and provide a tax break for everyone would be the worst time to raise taxes. ting around it. A vote for the Repub- up to $250,000. Lauren was right: we The National Association of Home lican bill is a vote to increase taxes on have a problem. Builders believes that lower rates, sim- military men and women. A vote for A constituent of mine said, ‘‘How is plification, and a fair system will spur the Democratic substitute is a tax cut it that the Congress doesn’t understand economic growth and increase competi- for our military men and women. that what they’re doing is throwing all tiveness. That’s good for housing, be- Mr. CAMP. I yield myself such time of us into the deep abyss of uncer- cause housing not only equals jobs, but as I may consume. tainty?’’ It’s that deep abyss of uncer- jobs mean more demand for housing. I don’t have to refute what the Mem- tainty that all Americans are con- This is just one area that if we raise ber from New York said because the cerned about. And what they want is taxes, as this substitute attempts to nonpartisan Joint Committee on Tax- for us to come together. do, we’re going to really close off what ation has already done that. They’ve We know that we have a bill that has little recovery we’ve been seeing, and said the matters the gentleman is talk- passed the Senate, a bill that the Presi- ing about are not tax increases. Those obviously it’s been very anemic. Eco- dent will sign, a bill that we virtually are spending through the Tax Code. nomic growth is just over 1 percent. agree on on both sides of the aisle. So We need to be the best country in the That spending was put into the stim- what really frustrates the American world. We need to have the strongest ulus bill. We know how unsuccessful citizens and the people in my district is country in the world. We need to have that was in lowering our unemploy- that we can’t come together. ment rate below 8 percent, as was the best Tax Code in the world. Raising I implore my colleagues on the other promised. taxes on one segment, one group of side, don’t plunge us further into this So at this time, I yield 2 minutes to dark abyss. Do the things that the Americans against another is not the the distinguished gentleman from New way to get America’s greatness back. wealthy amongst us have more than York (Mr. REED). the ability to shoulder and make sure I reserve the balance of my time. Mr. REED. I thank the chairman for that we all come together, as Ameri- Mr. LEVIN. I now yield 1 minute to yielding. the gentleman from New York (Mr. I rise in opposition to the substitute cans, and do the right thing on behalf CROWLEY). amendment that we’re debating here, of our constituents. That’s what the Mr. CROWLEY. Mr. Speaker, I rise in Mr. Speaker. The reason why is, it’s Lauren Mishkins want, that’s the kind support of the Democratic substitute clear the Democratic substitute of dream that we need to provide for all on this tax provision. amendment that we’re discussing is a American citizens, and that’s what this I have tremendous respect for Chair- further expansion of tax increases that country desperately needs—a Congress man CAMP and the members of the the Senate passed recently. I’m op- that will take leadership. Ways and Means Committee, but I posed to those tax increases. There are times when you need to would like to note that not a single one We’re dealing with a situation where step aside, and there are times when of my colleagues on the other side of the proposed amendment will raise the you need to step up. We need to step up the aisle refuted what I spoke about be- estate tax and take 55 percent of our as a Congress and pass this Democratic fore, about the fact that if the Repub- hardworking Americans’ assets when substitute. lican tax bill were to pass, as opposed they pass away. They are raising taxes Mr. CAMP. I yield 1 minute to the to the Democratic tax bill, there would on dividends and capital gains at a gentlewoman from Tennessee (Mrs. be an increase in taxes on 225,000 mili- time when senior citizens rely on those BLACK), a distinguished member of the tary men and women, many of whom most in these dire economic times. Ways and Means Committee. are in Active Duty overseas as we They also seek to raise taxes on those Mrs. BLACK. Mr. Speaker, as I have speak. making $200,000 to $250,000 and above. been back in the district talking to my I mentioned in my remarks that Raising taxes on those individuals goes constituents and visiting many of the under the Democratic bill, the EITC right to the heart of our small busi- businesses and the job creators in the rate, the earned income tax credit nesses across America, coast to coast, district, I have continued to hear from under the bill would afford a sergeant North to South. them that if we place one more tax in- in our Army today with 8 years of serv- In this dire economic time, I actually crease on them, they’re just not sure ice, married and with three children, agree with President Obama when he that they can survive. and has a basic pay of $34,723, would re- signed the tax rates in December 2010, Now these are good people that I go ceive under the Democratic plan an when he said, In dire economic times, to the grocery store with, that I go to EITC benefit of $3,508. we don’t raise taxes on Americans. church with. I know how hard they’re The SPEAKER pro tempore. The I just ask my colleagues to join me working, and I know how hard their time of the gentleman has expired. and say, Reject this substitute, freeze families are working in order to keep

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00064 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.091 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5591 businesses going within our commu- to give a bigger and better tax cut to by addressing spending so we are in- nity. And when we know that two out people making over $250,000 a year ,2 vesting in those initiatives that grow of every three jobs are created by a percent of the American people. In our economy. Pretty soon when we end small businessman or -woman, we im- order to do that, we greatly increase this debate, it will be around the time pact those very folks who are creating the deficit which would incur bor- when America’s families will sit down the jobs for so many people in the dis- rowing from other countries, including for dinner at the kitchen table or wher- trict. China. And to top it all off, in order to ever, and they will have these discus- I hear this over and over again. And give a tax cut to the wealthiest people sions about how they pay the bills, the they look at me and say, Diane, please in our country, we have to increase bills to stay in their home or their go back to Congress and please relay taxes for the middle class in order to apartment, wherever. Discussions on this to the Members of Congress, that pay for that. If you make over $1 mil- how they will pay for their children’s we need to make sure that we have the lion a year, the Republican tax pro- education, how their pensions are af- certainty and that we don’t impact posal will give you a tax cut of $160,000 fected by all of this. The list goes on them and their businesses so that they on average. And on average, America’s and on. have to close down and, once again, in- middle-income families would have to With one vote, we can alleviate that crease the amount of unemployment. pay $1,000 more in taxes. uncertainty. We’re not going to elimi- The SPEAKER pro tempore. The You know, we work for the American nate it, but we can lessen it. We have time of the gentlewoman has expired. people. You are our bosses. So as our that responsibility. Let’s not miss an Mr. CAMP. I yield the gentlewoman bosses, what would you instruct us to opportunity to do just that. an additional 30 seconds. do when it comes to reducing the def- So I thank you, Mr. LEVIN, for your Mrs. BLACK. My colleagues on the icit, giving a tax cut to 100 percent of leadership and members of the com- other side of the aisle do not have a the American people, which will inject mittee for all of your hard work. plan. Their plan is to increase the demand into the economy and there- Mr. CAMP. I reserve the balance of my time to close. taxes on this group of people. fore create jobs. So we are reducing the Mr. LEVIN. I yield myself the bal- Second to that are those who con- deficit. We’re creating jobs, and we’re ance of my time. tinue to say to me—especially those having fairness as a principle as to how There are a few undisputed facts. who are looking at planning for their we go forward. Small business—97 percent of small Make no mistake, by refusing to vote families for the future, of what they’re businesses will receive all of their tax going to leave for them—they’re not for the Senate-passed bill, House Re- cut. Don’t listen to the propaganda to going to be able to leave those things publicans are giving more tax breaks the contrary. Everyone will receive that they’ve worked so hard for be- to the richest 2 percent, tax breaks their tax cuts up to $250,000 of income. cause the estate taxes are going to go they don’t need and we can’t afford. At Don’t listen to propaganda that says up. the same time they cut taxes for the otherwise. And income over $1 million, We cannot do this to the people in rich, as I said, they would raise an av- for those who have that, would receive my district. I’m going to be here to erage of $1,000 on 25 million American under the Republican bill 70 times fight for that. families, families who rely on that more than the typical family. And Mr. LEVIN. I would ask my colleague money for day-to-day needs to pay when the two bills are combined, 150 from Michigan how many further re- their bills. That isn’t fair, and Demo- times more than the typical family. quests for time do you have left? crats will fight to prevent these tax in- Let me say just a word about tax re- Mr. CAMP. I am prepared to close. creases on middle-income families in form, which I favor. It’s being used as Mr. LEVIN. It’s now my privilege to order to give a tax break to the an argument for inaction. But, look, yield 1 minute to the gentlelady from wealthiest people in our country. let’s be realistic. No matter who con- California, our distinguished leader. Today is a day when we can end some trols the Congress next year, there Ms. PELOSI. I thank the gentleman uncertainty. People talk about the won’t be tax reform until maybe the for yielding. I also thank him for his cliff. We are going to go over the cliff spring or the summer. So are you going legislation on the floor today, to come January. Let’s not even go any- to use that same argument for tax re- strengthen the backbone of our democ- where near the edge of that cliff. Let’s form, say, in a lame duck against mid- racy, the great American middle class. pass this bill today. It will save just dle-income tax cuts? Or in January, are Today we can do just that by passing under $1 trillion because we’re not giv- you going to use the same argument? President Obama’s middle-income tax ing those tax cuts to the high end. Are you going to use tax reform as a cut, which is on the floor today as the That is almost all the money that is shield to protect the high-income tax- Levin substitute. It has already passed needed to avoid the sequestration come payer? In a word, the Republican bill is the Senate and could be signed into law January. So again, we are addressing a path to nowhere for middle-income by the President before the weekend. the uncertainty not only in the lives of taxpayers. We have an opportunity. We have an the American people, but in the life of Our substitute is a sure path. Pass it. opportunity to give a tax cut to 100 our economy. The Senate already has. The President percent of the American people. We Or today is the day that Republicans will sign it. Act now. Vote for the sub- have an opportunity to relieve some of will continue to hold the middle class stitute. the uncertainty that exists in our hostage to tax cuts for the wealthiest I yield back the balance of my time. economy as to how we are going to pay people in our country. Mr. CAMP. Mr. Speaker, I yield my- the bills and how America’s working I urge my colleagues to join Mr. self the balance of my time. families are going to pay the bills. LEVIN, join the President of the United Mr. Speaker, as I travel around We have an opportunity for fairness, States, join all of us. There isn’t a per- Michigan and my district, the Fourth which is an all-American value, for son in this room, in this body, I think, Congressional District of Michigan, I fairness for our families, for our busi- who doesn’t support tax cuts for the often hear from many families that nesses, and for our budget. We must middle class. Why can’t we just do they think America is at a crossroads. not—as some people always accuse that, do what we can agree upon right They really question is the American Congress of doing—miss an oppor- now, tax cut by the weekend, alle- Dream, is that dream that their chil- tunity. viating uncertainty for our economy as dren and grandchildren are going to we go forward, and then we can have a have the opportunities that they had, b 1700 debate about what a Tax Code should is that dream still alive for their kids We have to take advantage of the op- look like that has fairness, simplifica- and their grandkids? The reason they portunity that is here today. The bill tion, and again keeps us competitive, ask that is because we’ve been on the provides for fairness for the middle innovative, and, number one, allows economic path that the majority has class and certainty, as I mentioned. the private sector to create jobs. established for the last 3 years, and The Republican alternative says not Again, jobs, jobs, jobs. we’ve seen the slowest recovery from only do we want to give 100 percent of We will reduce that deficit by having any recession since the Great Depres- the American people a tax cut; we want additional revenue, by creating growth, sion. Unemployment is still too high. I

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00065 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.093 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5592 CONGRESSIONAL RECORD — HOUSE August 1, 2012 think maybe being from Michigan, I’m I yield back the balance of my time. needed extension of the tax relief and unem- particularly sensitive to that because Ms. JACKSON LEE of Texas. Mr. Speaker. ployment benefits set to expire at the end of we’ve had tough times for more than a I rise in strong support of H.R. 15, and ask my this month. decade. We need to get people back to colleagues on both sides of the aisle to come The Republican bill temporarily extends for work. We need to get jobs growing in together in support of H.R. 15, the Democratic one year, through 2013, all the reduced tax this country. alternative offered by our colleague from the rates and other tax benefits enacted in 2001 There’s really a choice: Which path Ways and Means Committee, Mr. LEVIN. and 2003 that are scheduled to expire on Dec. are we going to be on? Which road are I have consistently supported and voted for 31. The measure maintains the maximum es- we going to take? Which lane are we middle class tax cuts, as I did two years ago tate tax rate of 35% while retaining the ex- going to be in? Are we going to be in when I voted for the Middle Class Tax Relief emption amount of $5 million, provides a two- the lane where we just simply raise Act of 2010, and the extension of unemploy- year ‘‘patch’’ to prevent the alternative min- taxes? No matter what segment it is, I ment benefits. imum tax (AMT) from hitting over 27 million don’t care, just name the segment, but The intelligent Democratic substitute offered taxpayers and allows small businesses to de- one that we know will cost us 700,000 by my Ways and Means colleague temporarily duct an increased amount of their capital ex- jobs? extends for one year, through 2013, the re- penditures for another year. Or will we go down a path where we duced tax rates and other tax benefits enacted I feel like we have been down this path be- extend current law for 1 year, as many in 2001 and 2003 that expire on Dec. 31—but fore and I recall many of my colleagues stak- bipartisan experts have called for. Even only for income levels below $250,000 for joint ing a claim to fiscal responsibility. Well, I ask President Bill Clinton has called for it. tax returns and $200,000 for individuals. This in all sincerity, which bill is more fiscally re- The President’s former economic ad- is smart tax policy which acknowledges the sponsible: H.R. 8, which blows a hole in the viser, Larry Summers, has said let’s deficit problem but does not squelch tax bene- deficit, or H.R. 15, the Democratic alternative extend current law for a year. Let’s fits for those most in need. which keeps the Bush Tax rates in place for take the uncertainty out. And in the 20 It also extends the expanded education tax the people who truly need tax relief. hearings we’ve had on tax reform this credit, child tax credit and earned income tax This is the same Republican Congress year in the Ways and Means Com- credit benefits that were included in the 2009 which has asked for a balanced budget mittee, so many employers, so many stimulus law and extended in the 2010 tax ex- amendment. It has codified the Joint Select tax experts, so many independent tension law; those provisions unfortunately are Committee on Deficit Reduction, which is pos- groups have come forward and said the not included in H.R. 8. sibly unconstitutional, and has had no impact uncertainty of all of this expiring tax On the other hand, the Democratic proposal on jobs and the unemployment problem. Yet policy is causing a huge problem. does the following: today they want us to vote on a tax increase And my friends would say, well, if TEMPORARY EXTENSION OF TAX RELIEF for the top 2 percent. This illustrates what hap- only we’d raise taxes on people and pens when Congress does not work together small businesses and others who make One-year extension of marginal individual in a bipartisan manner, laboring for the Amer- $250,000, that’ll solve our problems. income tax rate reductions for middle-class ican people. We must work together and com- Well, it won’t. It’s just a piece of it. taxpayers. promise. The Tax Code is so complex, with 5,000 One-year extension of repeal of the overall The Senate gave us a layup by producing a changes over the last decade. I often limitation on itemized deductions (‘‘Pease’’) bill last week which is virtually identical to the say it’s 10 times larger than the Bible, and the personal exemption phase-out Democratic Substitute. All we have to do is act with none of the good news. (‘‘PEP’’) for middle-class taxpayers. The burden that this Tax Code is One-year extension of EGTRRA and ARRA like Olympians and pass it. The American people are asking the Presi- placing on our economy, it’s a huge improvements to child tax credit. dent and Members of Congress to move swift- wet blanket. Our GDP growth is just One-year extension of marriage penalty re- ly and take decisive action to help restore our barely over 1 percent, the gross domes- lief for middle-class taxpayers. tic product. Our economy is not grow- One-year extension of earned income tax economy in a fiscally responsible manner. I ing enough; and if we don’t grow our credit simplification and increase. am disappointed that Republicans have in- economy, we can’t create the jobs that One-year extension of education tax incen- sisted on holding tax cuts for working and mid- we need so desperately. tives. dle class families hostage in order to benefit One-year extension of tax benefits for fami- the wealthiest 2% of Americans. b 1710 lies and children. I would like to thank President Obama for Let’s work together. Let’s pass this One-year extension of reduced maximum his determined leadership, support and com- 1-year extension. Tomorrow, we have a rate for capital gains and qualified dividend in- mitment to protecting important tax relief package that will lay out our prin- come for middle-class taxpayers. issues for middle-income Americans and the ciples for comprehensive tax reform One-year extension of the American Oppor- nation’s small businesses and farmers during that will also lay out a process to expe- tunity Tax Credit (‘‘AOTC’’). One-year exten- these challenging economic times. I would dite this next year in the House and sion of enhanced small business expensing. also like to thank all the Members and their Senate. We’ve been working with the The measure provides a one-year ‘‘patch’’ staff who worked diligently to bring this essen- Senate to establish these procedures. to prevent the alternative minimum tax (AMT) tial legislation to the House floor today in an They will go through regular com- from affecting millions of additional taxpayers attempt to do all that we can to protect the mittee in an open and transparent way, and allows small businesses to deduct an in- American people and move this nation toward not just roll a bill out on the floor and creased amount of their capital expenditures fiscally responsible economic recovery. say, oh, if we only ding that one seg- for another year. It does not extend current I support those provisions of H.R. 8 which ment, things will be okay. Let’s do this estate tax provisions, which set a maximum provide relief for middle-class families and the right way. estate tax rate of 35% with an exemption small businesses who will see their taxes go This is the greatest country in the amount of $5 million. down and get much needed certainty. But I world. Let’s make this the greatest I am deeply saddened that the fate of un- cannot in good conscience support tax relief economic power in the world. Let’s re- employed, low and middle income Americans for millionaires and billionaires at a time when form our Tax Code for the first time in has been held hostage by the insistence by others need help just to make ends meet. 26 years. Let’s make it a pro-growth, Republicans that this legislation include a Unlike those provisions of H.R. 8 which ben- modern code that lets our U.S. compa- giveaway to the wealthiest 2% of Americans efit America’s struggling middle class, I do not nies compete around the world, lowers that is going to irresponsibly expand the al- support the provisions of this legislation which its rates and makes it simpler for peo- ready large deficit. condition that desperately needed relief upon ple to file their taxes, lessens that bur- I have spoken to and heard from many fine, the unconscionably high cost of providing an den, lessens that uncertainty and cre- patriotic, hardworking middle income Ameri- unnecessary, expensive giveaway to the ates 1 million jobs in the first year cans from Houston, from the great state of wealthiest Americans by providing a two year alone. Texas, and all across the nation. Middle class extension of Bush-era tax cuts for the wealthi- It’s very clear which path we need to American families and small businesses are est 2% of Americans while keeping their es- choose. Reject this substitute. Support deeply concerned about our troubled econ- tate tax rate at 35% on estates valued at more H.R. 8. Get on the right path. Get on omy, the skyrocketing national deficit, high un- than $5 million for individuals and more than the path to job creation. employment rates, job creation, and sorely $10 million for couples.

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00066 Fmt 4634 Sfmt 9920 E:\CR\FM\K01AU7.095 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5593 These giveaways to the wealthiest Ameri- penses of up to $250. The educator expense Tax expenditures also reduce the econo- cans during these dire economic times need- deduction allows teachers to write off some my’s productivity because decisions on earn- lessly add billions of dollars to our sky- expenses that they incur to provide books, ing, spending, and investment are driven by rocketing deficit yet create no value for our ail- supplies, and other equipment and materials tax considerations rather than the price signals ing economy since these tax cuts are not tied for their classrooms. I introduced this amend- that a well-balanced, and fair free market to job creation and preservation. ment and would like to acknowledge the work economy produces. These expenditures, ESTATE TAX AMENDMENT of my colleagues who have put forth legisla- whether for individuals or corporations, are I offered an amendment that would have set tion advocating this deduction. America’s really no different than the much ballyhooed the Estate Tax at reasonable levels. My teachers from Texas to Maine to Florida to entitlement programs, but they have cute amendment would have allowed estates val- Washington deserve our renewed appreciation names and fancy lobbyists. ued at $3.5 million or less to pay 35 percent, for their commitment to educating future gen- Moreover, tax expenditures make the tax estates valued between $3.5 million and $10 erations. system excessively complex for honest tax- million to pay a 45 percent rate, and estates Our children should not have to suffer be- payers who are trying to comply with the law over $10 million to pay a 55 percent rate. This cause our teachers are given a Hobson’s while seeking the benefits to which they are commonsense amendment would have re- Choice, forced to choose between using their legally entitled. stored a sense of fairness to H.R. 8. Accord- own finances to effectively teach a class or The system is so complex that most tax- ing to the Center on Budget and Policy Prior- forced to cut corners due to budgetary restric- payers even those with low incomes now use ities, the 2009 estate tax rules already are ex- tions. We promote an increased quality of either a professional tax preparer or tax soft- tremely generous, tilting in favor of the education by lessening the financial burden on ware. A one-page form shouldn’t require a tax wealthy. The Tax Policy Center estimates that them when they are trying to go above and preparer who earns a percentage of the re- beyond their responsibilities is certainly war- if policymakers reinstated the 2009 rules: turn, or a fee. It is not justifiable, especially The estates of 99.7 percent of Americans ranted. when some commentators like to point out While I am opposed to the portions of H.R. who die would owe no estate tax at all in that a number of taxpayers pay no tax—well 8 that amount to an expensive giveaway to 2013. Only the estates of the wealthiest 0.29 they somehow conveniently forget to mention the wealthiest 2% of Americans, I want to em- percent of Americans who die—about 7,450 that these tax scofflaws making $30,000 dol- phasize that I fully support job-creation and people nationwide in 2013—would owe any lars a year more than make up for it with a job creators. I also support President Obama’s tax. long list of regressive taxes at the state and Moreover, under the 2009 rules, the small vision for change. I share his commitment to local level. fighting for low- and middle-income Americans number of estates that were taxable would The alternative minimum tax, or AMT, was who are the backbone of this country and our face an average effective tax rate of 19.1 per- initially designed to ensure that all high-in- economy. cent, far below the statutory estate-tax rate of come taxpayers paid some income tax, has However, this legislation, H.R. 8, especially become the poster child for the tax system’s 45 percent. In other words, 81 percent of the as it pertains to tax cuts for the top 2% of failure, requiring Congress to enact increas- value of these estates would remain after the Americans and estate tax provisions that are ingly expensive temporary patches to prevent tax, on average. An estate tax that exempts regressive and inflate the deficit, does not the AMT from encroaching on millions of mid- the estates of 997 of every 1,000 people who comport with this vision. I have serious mis- dle class households particularly those with die and leaves in place an average of 81 per- givings about extending tax cuts for the children, in a web of pointless high tax rates, cent of the very wealthiest estates is hardly a wealthiest Americans at the expense of our complexity, and unfairness. confiscatory or oppressive tax. deficit, especially if these tax cuts are not tar- On the deficit reduction front it is important Moreover, only 60 small farm and business geted towards job creation. to remember the economic crisis that the estates in the entire country would owe any DEFICIT AND TAXATION President inherited. I remember back in 2008 estate tax in 2013, under a reinstatement of You may recall that in the Budget, the Ad- and 2009, when we experienced the worst re- the 2009 rules, and these estates would face ministration calls for individual tax reform that: cession since the Great Depression. The an average effective tax rate of just 11.6 per- cuts the deficit by $1.5 trillion, including the economy actually contracted, it shrunk, at a cent. Failing to tie tax cuts to job creation is expiration of the high-income 2001 and 2003 rate of almost 9 percent in the fourth quarter irresponsible since it exacerbates our growing tax cuts. As a matter of sound fiscal policy, I of 2008. deficit without bolstering job creation. am supportive of this 15 effort. I recognize the We lost 800,000 private-sector jobs in Janu- My amendment does not address the step- putative economic benefits that many attribute ary of 2009 alone, and unemployment was up in basis. The exemption level and rate are to the Bush Tax Cuts, but we must ask our- surging. Those are the conditions the Presi- consistent with parts of the estate tax proposal selves are they affordable? There is no dent inherited—the car was swerving into the included in the President’s FY2010 and amount of dynamic scoring that will help pene- ditch. He was not the driver, but he was asked FY2011 Budgets and H.R 16, the intelligent trate the deficit. to come in on literally his first day of office, estate tax proposal being put forth by my col- The President’s budget also eliminated inef- roll-up his sleeves and figure out how to pre- league Mr. LEVIN of the Ways and Means ficient and unfair tax breaks for millionaires vent the car from rolling farther down the hill. Committee. while making all tax breaks at least as good If you’ll recall we also faced a housing market CLASSROOM EXPENSE DEDUCTION AMENDMENT for the middle class as for the wealthy; and that was in crisis, and we faced a financial My second amendment would have pro- observes the Buffett Rule that no household market crisis as well that threatened to set off vided tax relief to school teachers by providing making more than $1 million a year pays less a global financial collapse. We have come a them a deduction for qualified out-of-pocket than 30 percent of their income in taxes. long way since then yet there is more work to classroom expenses of $250 dollars, whether The individual income tax is a hodgepodge be done. or not they itemize their deductions. You may of deductions, exemptions, and credits that The cloud looming over this Congress is an recall Mr. Speaker that the President included provide special benefits to selected groups of unintended ‘‘triple-witching hour’’ of tax in- this proposal in his Budget for Fiscal Year taxpayers and favored forms of consumption creases and Sequestration measures that will 2013. and investment. These tax preferences make take effect at the beginning of 2013. I understand the tremendous personal costs the income tax unfair because they can im- The expiration of the Bush Tax Cuts, the incurred by educators with little or no class- pose radically different burdens on two dif- end of the recently extended Payroll Tax Cut, room budget. According to a 2006 National ferent taxpayers with the same income. In es- and increases in capital gains and dividends School Supply and Equipment Association Re- sence, Congress has been picking winners taxation will shock the conscience and wallets tail Awareness Study, teachers spend an aver- and losers. of the American people. That is why Congress age of $493 out of pocket on school supplies There is absolutely no justification for huge needs to enact bi-partisan legislation that for their own classrooms. tax cuts. The wealthiest tax brackets should helps lower the deficit but does not wreck 7 percent of teachers surveyed said they not profit at the expense of programs keeping havoc on the financial soul of the middle plan to spend more than $1,000 of their per- struggling families from poverty. class. sonal finances on supplies. As education Bear in mind, the Republican’s 2012 budget But again, tax reform that lowers the rate, budgets face major shortfalls in the recession, cut $2 trillion dollars more than President reduces the deficit, and does not pick winners that amount is expected to increase signifi- Obama’s Debt Commission advised, and and losers is not easy, but let’s not forget, if cantly. those cuts come from vital social services and President Reagan and then-Speaker Tip Beginning in 2002 the IRS allowed for an safety nets for low income families, children O’Neill could do it in 1986, anything is pos- above-the-line deduction for classroom ex- and seniors. sible.

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00067 Fmt 4634 Sfmt 9920 E:\CR\FM\A01AU7.069 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5594 CONGRESSIONAL RECORD — HOUSE August 1, 2012 The so-called ‘‘99ers’’ have been sincerely Watt Welch Woolsey b 1737 Waxman Wilson (FL) Yarmuth looking for work for a very long time and have Messrs. JONES and JOHNSON of run out of resources to provide for their fami- NAYS—257 Ohio changed their vote from ‘‘yea’’ to lies and pay their mortgages, pay their bills Adams Gohmert Owens ‘‘nay.’’ and buy food. They simply want and need a Aderholt Goodlatte Palazzo Ms. EDWARDS, Ms. HAHN, Mrs. job to pay for these obligations. H.R. 8 pro- Alexander Gosar Paul DAVIS of California, and Messrs. ELLI- poses to give tax cuts to the wealthiest Ameri- Altmire Gowdy Paulsen SON, HINCHEY, and MORAN changed cans, yet fails to provide for the so-called Amash Granger Pearce Amodei Graves (GA) Pence their vote from ‘‘nay’’ to ‘‘yea.’’ ‘‘99ers.’’ Austria Graves (MO) Peterson So the amendment was rejected. H.R. 8 unfortunately is not ready for prime- Bachmann Griffin (AR) Petri The result of the vote was announced time. Let us come together for the American Bachus Griffith (VA) Pitts as above recorded. people and pass the Levin Substitute—a bill Barletta Grimm Platts The SPEAKER pro tempore. The which has already passed in the Senate. Barrow Guinta Poe (TX) question is on the engrossment and Bartlett Guthrie Pompeo The SPEAKER pro tempore. All time Barton (TX) Hall Posey third reading of the bill. for debate has expired. Bass (NH) Hanna Price (GA) The bill was ordered to be engrossed Pursuant to the rule, the previous Benishek Harper Quayle and read a third time, and was read the question is ordered on the bill and on Berg Harris Reed third time. Biggert Hartzler Rehberg MOTION TO RECOMMIT the amendment offered by the gen- Bilbray Hastings (WA) Reichert tleman from Michigan (Mr. LEVIN). Bilirakis Hayworth Renacci Mr. DEFAZIO. Mr. Speaker, I have a The question is on the amendment Bishop (UT) Heck Ribble motion to recommit at the desk. offered by the gentleman from Michi- Black Hensarling Rigell The SPEAKER pro tempore. Is the Blackburn Herger Rivera gentleman opposed to the bill? gan. Bonner Herrera Beutler Roby The question was taken; and the Mr. DEFAZIO. Yes, I am. Bono Mack Huelskamp Roe (TN) The SPEAKER pro tempore. The Speaker pro tempore announced that Boren Huizenga (MI) Rogers (AL) the noes appeared to have it. Boustany Hultgren Rogers (KY) Clerk will report the motion to recom- Mr. LEVIN. Mr. Speaker, on that I Brady (TX) Hunter Rogers (MI) mit. Brooks Hurt Rohrabacher The Clerk read as follows: demand the yeas and nays. Broun (GA) Issa Rokita Mr. DeFazio moves to recommit the bill The yeas and nays were ordered. Buchanan Jenkins Rooney H.R. 8 to the Committee on Ways and Means Bucshon Johnson (IL) Ros-Lehtinen The vote was taken by electronic de- with instructions to report the same back to vice, and there were—yeas 170, nays Buerkle Johnson (OH) Roskam Burgess Johnson, Sam Ross (AR) the House forthwith with the following 257, not voting 3, as follows: Burton (IN) Jones Ross (FL) amendment: [Roll No. 543] Calvert Jordan Royce Add at the end of the bill the following: Camp Kelly Runyan SEC. 6. FINDINGS. YEAS—170 Campbell King (IA) Ryan (WI) Congress finds the following: Ackerman Frank (MA) Moran Canseco King (NY) Scalise (1) Section 2 of this Act (H.R. 8) extends Andrews Fudge Murphy (CT) Cantor Kingston Schilling tax cuts for millionaires instead of helping Baca Garamendi Nadler Capito Kinzinger (IL) Schmidt small businesses with tax cuts to invest in Baldwin Gonzalez Napolitano Carter Kissell Schock Barber Green, Al Neal the future and create jobs. Cassidy Kline Schrader (2) Small businesses would be better served Bass (CA) Green, Gene Olver Chabot Labrador Schweikert Becerra Grijalva by ending tax breaks for millionaires and in- Pallone Chaffetz Lamborn Scott (SC) Berkley Gutierrez Pascrell Chandler Lance Scott, Austin stead using that revenue to expand the small Berman Hahn Pastor (AZ) Coble Landry Sensenbrenner business expensing provision, which fosters Bishop (GA) Hanabusa Pelosi Coffman (CO) Lankford Sessions investment in new plants and equipment. Bishop (NY) Hastings (FL) Perlmutter Blumenauer Heinrich Cole Latham Shimkus (3) This Act (H.R. 8) fails to extend expan- Peters Conaway LaTourette Shuler sions to the Child Tax Credit and the Earned Bonamici Higgins Pingree (ME) Cooper Latta Shuster Income Tax Credit, and it fails to extend al- Boswell Himes Polis Costa Lewis (CA) Simpson Brady (PA) Hinchey Price (NC) together the American Opportunity Tax Braley (IA) Hinojosa Cravaack LoBiondo Smith (NE) Quigley Credit. This tax relief encourages work, has Brown (FL) Hirono Crawford Long Smith (NJ) Rahall lifted millions of Americans into the middle Butterfield Hochul Crenshaw Lucas Smith (TX) Rangel class, and helps middle class families pay for Capps Holden Cuellar Luetkemeyer Southerland Reyes the costs of higher education. Capuano Holt Culberson Lummis Richardson Stearns Carnahan Honda Denham SEC. 7. APPLICATION OF EXTENSION OF 2001 AND Richmond Lungren, Daniel Stivers Carney Hoyer Dent 2003 TAX RELIEF TO CERTAIN HIGH- Rothman (NJ) E. Stutzman Carson (IN) Israel DesJarlais INCOME TAXPAYERS. Roybal-Allard Mack Sullivan Castor (FL) Jackson Lee (a) APPLICATION OF EXTENSION OF 2001 TAX Ruppersberger Diaz-Balart Manzullo Terry Chu (TX) Dold Marchant Thompson (CA) RELIEF.— Cicilline Johnson (GA) Rush Donnelly (IN) Marino Thompson (PA) (1) TREATMENT OF 25-, 28-, AND 33-PERCENT Clarke (MI) Johnson, E. B. Ryan (OH) Sa´ nchez, Linda Dreier Matheson Thornberry RATE BRACKETS.—Paragraph (2) of section 1(i) Clarke (NY) Kaptur Duffy McCarthy (CA) Clay Keating T. Tiberi of the Internal Revenue Code of 1986 is Duncan (SC) McCaul Cleaver Kildee Sanchez, Loretta Tipton amended to read as follows: Duncan (TN) McClintock Clyburn Kind Sarbanes Turner (NY) ‘‘(2) 25-, 28-, AND 33-PERCENT RATE BRACK- Ellmers McHenry Cohen Kucinich Schakowsky Turner (OH) ETS.—The tables under subsections (a), (b), Emerson McIntyre Connolly (VA) Langevin Schiff Upton Farenthold (c), (d), and (e) shall be applied— Conyers Larsen (WA) Schwartz McKeon Walberg Scott (VA) Fincher McKinley ‘‘(A) by substituting ‘25%’ for ‘28%’ each Costello Larson (CT) Walden place it appears (before the application of Courtney Lee (CA) Scott, David Fitzpatrick McMorris Walsh (IL) subparagraph (B)), Critz Levin Serrano Flake Rodgers Walz (MN) Crowley Lewis (GA) Sewell Fleischmann McNerney Webster ‘‘(B) by substituting ‘28%’ for ‘31%’ each Cummings Lipinski Sherman Fleming Meehan West place it appears, and Sires Davis (CA) Loebsack Flores Mica Westmoreland ‘‘(C) by substituting ‘33%’ for ‘36%’ each Slaughter Davis (IL) Lofgren, Zoe Forbes Miller (FL) Whitfield place it appears.’’. Smith (WA) DeFazio Lowey Fortenberry Miller (MI) Wilson (SC) (2) 35-PERCENT RATE BRACKET.—Subsection ´ Speier Foxx Miller, Gary DeGette Lujan Wittman (i) of section 1 of such Code is amended by re- DeLauro Lynch Stark Franks (AZ) Mulvaney Wolf designating paragraph (3) as paragraph (4) Deutch Maloney Sutton Frelinghuysen Murphy (PA) Womack Dicks Markey Thompson (MS) Gallegly Myrick and by inserting after paragraph (2) the fol- Woodall Dingell Matsui Tierney Gardner Neugebauer lowing new paragraph: Yoder Doggett McCarthy (NY) Tonko Garrett Noem ‘‘(3) 35-PERCENT RATE BRACKET.— Young (AK) Doyle McCollum Towns Gerlach Nugent ‘‘(A) IN GENERAL.—In the case of taxable Young (FL) Edwards McDermott Tsongas Gibbs Nunes years beginning after December 31, 2012— Young (IN) Ellison McGovern Van Hollen Gibson Nunnelee ´ ‘‘(i) the rate of tax under subsections (a), Engel Meeks Velazquez Gingrey (GA) Olson Eshoo Michaud Visclosky (b), (c), and (d) on a taxpayer’s taxable in- come in the highest rate bracket shall be 35 Farr Miller (NC) Wasserman NOT VOTING—3 Fattah Miller, George Schultz percent to the extent such income does not Filner Moore Waters Akin Cardoza Jackson (IL) exceed an amount equal to the excess of—

VerDate Mar 15 2010 06:37 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00068 Fmt 4634 Sfmt 0634 E:\CR\FM\A01AU7.070 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5595 ‘‘(I) the applicable amount, over by inserting after subparagraph (B) the fol- section (b)(3) shall apply to amounts paid on ‘‘(II) the dollar amount at which such lowing new subparagraphs: or after January 1, 2013. bracket begins, and ‘‘(C) 15 percent of the lesser of— SEC. 8. ADDITIONAL INCREASE IN SMALL BUSI- ‘‘(ii) the 39.6 percent rate of tax under such ‘‘(i) so much of the adjusted net capital NESS EXPENSING. subsections shall apply only to the tax- gain (or, if less, taxable income) as exceeds (a) IN GENERAL.—Section 179(b) of the In- payer’s taxable income in such bracket in ex- the amount on which a tax is determined ternal Revenue Code of 1986, as amended by cess of the amount to which clause (i) ap- under subparagraph (B), or section 3, is further amended— plies. ‘‘(ii) the excess (if any) of— (1) by striking ‘‘$100,000’’ in paragraph ‘‘(B) APPLICABLE AMOUNT.—For purposes of ‘‘(I) the amount of taxable income which (1)(D) and inserting ‘‘$1,000,000’’, this paragraph, the term ‘applicable amount’ would (without regard to this paragraph) be (2) by striking ‘‘$400,000’’ in paragraph means the excess of— taxed at a rate below 39.6 percent, over (2)(D) and inserting ‘‘$5,000,000’’, and ‘‘(i) the applicable threshold, over ‘‘(II) the sum of the amounts on which a (3) by striking paragraph (6). ‘‘(ii) the sum of the following amounts in tax is determined under subparagraphs (A) (b) EFFECTIVE DATE.—The amendments effect for the taxable year: and (B), made by this section shall apply to taxable ‘‘(I) the basic standard deduction (within ‘‘(D) 20 percent of the adjusted net capital years beginning after December 31, 2012. the meaning of section 63(c)(2)), and gain (or, if less, taxable income) in excess of Mr. DEFAZIO (during the reading). ‘‘(II) the exemption amount (within the the sum of the amounts on which tax is de- Mr. Speaker, I ask unanimous consent meaning of section 151(d)(1) (or, in the case termined under subparagraphs (B) and (C),’’. that reading of the motion be sus- of subsection (a), 2 such exemption (2) MINIMUM TAX.—Section 55 of such Code amounts). is amended by adding at the end the fol- pended. ‘‘(C) APPLICABLE THRESHOLD.—For purposes lowing new subsection: The SPEAKER pro tempore. Is there of this paragraph, the term ‘applicable ‘‘(f) 20-PERCENT CAPITAL GAINS RATE FOR objection to the request of the gen- threshold’ means— CERTAIN HIGH INCOME INDIVIDUALS.— tleman from Oregon? ‘‘(i) $1,000,000 in the case of subsection (a), ‘‘(1) IN GENERAL.—In the case of any indi- Mr. CAMP. I object. (b), and (c), and vidual, if the taxpayer’s taxable income for The SPEAKER pro tempore. Objec- 1 ‘‘(ii) ⁄2 the amount applicable under clause the taxable year exceeds the applicable tion is heard. (i) (after adjustment, if any, under subpara- amount determined under section 1(i) with The Clerk will read. graph (E)) in the case of subsection (d). respect to such taxpayer for such taxable The Clerk continued to read. ‘‘(D) HIGHEST RATE BRACKET.—For purposes year, the amount determined under para- of this paragraph, the term ‘highest rate Mr. DEFAZIO (during the reading). I graph (2) shall be substituted for the amount bracket’ means the bracket which would (de- ask unanimous consent that further determined under subsection (b)(3)(C) for termined without regard to this paragraph) reading be suspended. purposes of determining the taxpayer’s ten- be the 39.6-percent rate bracket. The SPEAKER pro tempore. Is there tative minimum tax for such taxable year. ‘‘(E) INFLATION ADJUSTMENT.—For purposes ‘‘(2) DETERMINATION OF 20-PERCENT CAPITAL objection? of this paragraph, with respect to taxable GAINS RATE.—The amount determined under Without objection, the reading is dis- years beginning in calendar years after 2012, this paragraph is the sum of— pensed with. the dollar amount in subparagraph (C)(i) ‘‘(A) 15 percent of the lesser of— There was no objection. shall be adjusted in the same manner as ‘‘(i) so much of the adjusted net capital The SPEAKER pro tempore. Under under paragraph (1)(C), except that sub- section (f)(3)(B) shall be applied by sub- gain (or, if less, taxable excess) as exceeds the rule, the gentleman from Oregon is stituting ‘2008’ for ‘1992’.’’. the amount on which tax is determined recognized for 5 minutes in support of under subsection (b)(3)(B), or (3) OVERALL LIMITATION ON ITEMIZED DEDUC- his motion. ‘‘(ii) the excess described in section TIONS.—Section 68 of such Code is amended— Mr. DEFAZIO. This is the final (A) by striking ‘‘the applicable amount’’ 1(h)(1)(C)(ii), plus amendment to the bill. It won’t kill the first place it appears in subsection (a) ‘‘(B) 20 percent of the adjusted net capital gain (or, if less, taxable excess) in excess of the bill or send it back to committee. and inserting ‘‘the applicable threshold in ef- If adopted, the bill will be immediately fect under section 1(i)(3)’’, the sum of the amounts on which tax is de- (B) by striking ‘‘the applicable amount’’ in termined under subparagraph (A) and sub- amended and will proceed to final pas- subsection (a)(1) and inserting ‘‘such applica- section (b)(3)(B).’’. sage. ble threshold’’, (3) CONFORMING AMENDMENTS.— It’s a pretty simple amendment. It (C) by striking subsection (b) and redesig- (A) The following provisions are each would create a tax break for the real nating subsections (c), (d), and (e) as sub- amended by striking ‘‘15 percent’’ and insert- job creators in America, which are sections (b), (c), and (d), respectively, and ing ‘‘20 percent’’: small businesses and middle-income (D) by striking subsections (f) and (g). (i) Section 531 of the Internal Revenue Code of 1986. families. A middle-income person with (4) PHASEOUT OF DEDUCTIONS FOR PERSONAL a job or a small business and enough EXEMPTIONS.— (ii) Section 541 of such Code. money to go out and invest and buy (A) IN GENERAL.—Paragraph (3) of section (iii) Section 1445(e)(1) of such Code. 151(d) of such Code is amended— (iv) The second sentence of section products made in America for his busi- (i) by striking ‘‘the threshold amount’’ in 7518(g)(6)(A) of such Code. ness—that’s a key component of this— subparagraphs (A) and (B) and inserting ‘‘the (v) Section 53511(f)(2) of title 46, United would be allowed an expensing. applicable threshold in effect under section States Code. The Republican version of the bill 1(i)(3)’’, (B) Section 1445(e)(6) of the Internal Rev- would limit the expensing to small (ii) by striking subparagraph (C) and redes- enue Code of 1986 is amended by striking ‘‘15 businesses to $100,000 a year for the ignating subparagraph (D) as subparagraph percent (20 percent in the case of taxable years beginning after December 31, 2010)’’ purchases of new equipment made in (C), and America. If this amendment is adopted, (iii) by striking subparagraphs (E) and (F). and inserting ‘‘20 percent’’. (B) CONFORMING AMENDMENTS.—Paragraph (c) APPLICATION OF SUNSETS.— those same small businesses would be (4) of section 151(d) of such Code is amend- (1) APPLICATION OF EGTRRA SUNSET.—Each allowed to expense up to $1 million to ed— amendment made by subsection (a) shall be purchase products made in America, (i) by striking subparagraph (B), subject to title IX of the Economic Growth which would put people back to work. (ii) by redesignating clauses (i) and (ii) of and Tax Relief Reconciliation Act of 2001 to Now, I know we’re going to hear of subparagraph (A) as subparagraphs (A) and the same extent and in the same manner as the millionaires and billionaires be- (B), respectively, and by indenting such sub- if such amendment was included in title I of cause this tax increase, or restoration such Act. paragraphs (as so redesignated) accordingly, of the Clinton era rates, would only and (2) APPLICATION OF JGTRRA SUNSET.—Each (iii) by striking all that precedes ‘‘in a cal- amendment made by subsection (b) shall be apply to incomes over $1 million. So a endar year after 1989,’’ and inserting the fol- subject to section 303 of the Jobs and Growth millionaire still gets the break on the lowing: Tax Relief Reconciliation Act of 2003 to the first $1 million. It’s only on income ‘‘(4) INFLATION ADJUSTMENT.—In the case of same extent and in the same manner as if over $1 million that would go to the any taxable year beginning’’. such amendment was included in title III of Clinton era rates. (b) APPLICATION OF EXTENSION OF 2003 TAX such Act. They’ll say they’re the job creators RELIEF.— (d) EFFECTIVE DATES.— and that it would depress job creation. (1) 20-PERCENT CAPITAL GAINS RATE FOR CER- (1) IN GENERAL.—Except as otherwise pro- Let’s think back to the Clinton admin- TAIN HIGH INCOME INDIVIDUALS.—Paragraph vided in this subsection, the amendments (1) of section 1(h) of the Internal Revenue made by this section shall apply to taxable istration. We had a 39.6 percent top Code of 1986 is amended by striking subpara- years beginning after December 31, 2012. bracket on the millionaires and billion- graph (C), by redesignating subparagraphs (2) WITHHOLDING.—The amendments made aires. We had 3.8 percent unemploy- (D) and (E) as subparagraphs (E) and (F) and by subparagraphs (A)(iii) and (B) of sub- ment in the United States of America,

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00069 Fmt 4634 Sfmt 0634 E:\CR\FM\A01AU7.051 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE H5596 CONGRESSIONAL RECORD — HOUSE August 1, 2012 and we paid down debt for the first to reduce the deficit? We’ll just see Moran Rothman (NJ) Sutton time since the Eisenhower administra- more wasteful Washington spending. Murphy (CT) Roybal-Allard Thompson (CA) Nadler Ruppersberger Thompson (MS) tion. I’d like to go back to those bad This isn’t a solution. America is at a Napolitano Rush Tierney old days. crossroad. We’ve had 40 months of 8 Neal Ryan (OH) Tonko Now, we’ve been doing the Bush tax percent unemployment. What do we get Olver Sa´ nchez, Linda Towns Owens T. Tsongas cuts for 12 years. Where are the jobs? from them? Not a solution. We get a Pallone Sanchez, Loretta Where are the jobs from cutting taxes Van Hollen political ploy. Pascrell Sarbanes Vela´ zquez Pastor (AZ) Schakowsky on people’s incomes of over $1 million? I appreciate my friend from Oregon Visclosky Pelosi Schiff They aren’t creating those jobs. Let me Walz (MN) touting the benefits of the Clinton ad- Perlmutter Schwartz Wasserman give you two quick examples from my ministration when we had a Republican Peters Scott (VA) district, and they’re typical. Congress. Let me just say I’ve wel- Pingree (ME) Scott, David Schultz Waters comed the advice of former President Polis Serrano b 1750 Price (NC) Sewell Watt Bill Clinton. He said extend all of the Waxman I have Palo Alto Software, a small Quigley Sherman current tax rates. Let me just say that Rahall Sires Welch business. They make software for busi- this would gut tax reform. Rangel Slaughter Wilson (FL) Woolsey ness start-ups. We contacted them, and Say ‘‘yes’’ to tax reform. Say ‘‘no’’ to Reyes Smith (WA) they said, Yes, we could invest way Richardson Speier Yarmuth raising taxes. Say ‘‘no’’ to this motion Richmond Stark more both in new hardware, new soft- to recommit. ware, and other things that would en- With that, I yield back the balance of NOES—246 hance our business than $100,000 if we my time. Adams Gallegly McMorris were given this expensing privilege, The SPEAKER pro tempore. Without Aderholt Gardner Rodgers and we would put more people back to Alexander Garrett Meehan objection, the previous question is or- work. Altmire Gerlach Mica dered on the motion to recommit. Amash Gibbs Miller (FL) Bulk Handling Systems, they make There was no objection. Amodei Gibson Miller (MI) recycling systems in my district. They Austria Gingrey (GA) Miller, Gary had the same answer: If you gave us a The SPEAKER pro tempore. The Bachmann Gohmert Mulvaney million dollars of expensing, we would question is on the motion to recommit. Bachus Goodlatte Murphy (PA) The question was taken; and the Barletta Gosar Myrick spend every penny of that on products Barrow Gowdy Neugebauer made in America and put people back Speaker pro tempore announced that Bartlett Granger Noem to work. the noes appeared to have it. Barton (TX) Graves (GA) Nugent Bass (NH) Graves (MO) Nunes RECORDED VOTE The bottom line is the Republicans Benishek Griffin (AR) Nunnelee want to limit these small businesses, Mr. DEFAZIO. Mr. Speaker, I demand Berg Griffith (VA) Olson these real job creators, to a $100,000 de- a recorded vote. Biggert Grimm Palazzo Bilbray Guinta Paul duction when they could use a million A recorded vote was ordered. Bilirakis Guthrie Paulsen dollars in expensing and put more peo- The SPEAKER pro tempore. Pursu- Bishop (UT) Hall Pearce ple back to work, because their ant to clause 8 and clause 9 of rule XX, Black Hanna Pence premise is that the millionaire, the Blackburn Harper Peterson this 15-minute vote on the motion to Bonner Harris Petri person who got hundreds of millions or recommit will be followed by 5-minute Bono Mack Hartzler Pitts more in income, that having them not votes on passage of H.R. 8, if ordered, Boren Hastings (WA) Platts pay more taxes on their income over $1 and the motions to suspend with regard Boustany Hayworth Poe (TX) Brady (TX) Heck Pompeo million will create more jobs than the to House Resolution 750 and H.R. 4365. Brooks Hensarling Posey small business. I don’t buy that. I don’t The vote was taken by electronic de- Broun (GA) Herger Price (GA) think the American people buy that. vice, and there were—ayes 181, noes 246, Buchanan Herrera Beutler Quayle There’s no limit on what they can do Bucshon Huelskamp Reed not voting 3, as follows: Buerkle Huizenga (MI) Rehberg with their huge tax breaks, their very [Roll No. 544] Burgess Hultgren Reichert expensive tax breaks. They can buy an- Burton (IN) Hunter Renacci AYES—181 other vacation home in the Caribbean. Calvert Hurt Ribble Ackerman Crowley Holt Camp Issa Rigell They can buy a Lamborghini. Paris Andrews Cuellar Honda Campbell Jenkins Rivera Hilton can go on a shopping spree in Baca Cummings Hoyer Canseco Johnson (IL) Roby London or Paris. Baldwin Davis (CA) Israel Cantor Johnson (OH) Roe (TN) This bill limits the expensing and the Barber Davis (IL) Jackson Lee Capito Johnson, Sam Rogers (AL) Bass (CA) DeFazio (TX) Carter Jordan Rogers (KY) purchase of equipment to products Becerra DeGette Johnson (GA) Cassidy Kelly Rogers (MI) made in the United States of America. Berkley DeLauro Johnson, E. B. Chabot King (IA) Rohrabacher I want to see things made in this coun- Berman Deutch Jones Chaffetz King (NY) Rokita try again. I want to put Americans Bishop (GA) Dicks Kaptur Coble Kingston Rooney Bishop (NY) Dingell Keating Coffman (CO) Kinzinger (IL) Ros-Lehtinen back to work, not people overseas. Blumenauer Doggett Kildee Cole Kline Roskam It’s time that we admitted that we Bonamici Doyle Kind Conaway Labrador Ross (AR) can’t afford to continue the tax cuts Boswell Duncan (TN) Kissell Cravaack Lamborn Ross (FL) Brady (PA) Edwards Kucinich Crawford Lance Royce over $1 million of income. Braley (IA) Ellison Langevin Crenshaw Landry Runyan It would also reduce the deficit over Brown (FL) Engel Larsen (WA) Culberson Lankford Ryan (WI) 10 years by $29 billion after we create Butterfield Eshoo Larson (CT) Denham Latham Scalise jobs, after we give this expensing privi- Capps Farr Lee (CA) Dent LaTourette Schilling Capuano Fattah Levin DesJarlais Latta Schmidt lege to small businesses. Carnahan Filner Lewis (GA) Diaz-Balart Lewis (CA) Schock The choice is yours. You can stick Carney Frank (MA) Lipinski Dold LoBiondo Schrader with those who have income over $1 Carson (IN) Fudge Loebsack Donnelly (IN) Long Schweikert Castor (FL) Garamendi Lofgren, Zoe Dreier Lucas Scott (SC) million or you can side with small Chandler Gonzalez Lowey Duffy Luetkemeyer Scott, Austin businesses and American workers. You Chu Green, Al Luja´ n Duncan (SC) Lummis Sensenbrenner decide. Cicilline Green, Gene Lynch Ellmers Lungren, Daniel Sessions I yield back the balance of my time. Clarke (MI) Grijalva Maloney Emerson E. Shimkus Clarke (NY) Gutierrez Markey Farenthold Mack Shuler Mr. CAMP. Mr. Speaker, I rise in op- Clay Hahn Matsui Fincher Manzullo Shuster position to the motion. Cleaver Hanabusa McCarthy (NY) Fitzpatrick Marchant Simpson The SPEAKER pro tempore. The gen- Clyburn Hastings (FL) McCollum Flake Marino Smith (NE) Cohen Heinrich McDermott Fleischmann Matheson Smith (NJ) tleman from Michigan is recognized for Connolly (VA) Higgins McGovern Fleming McCarthy (CA) Smith (TX) 5 minutes. Conyers Himes McNerney Flores McCaul Southerland Mr. CAMP. It’s clear that my friends Cooper Hinchey Meeks Forbes McClintock Stearns on the other side are committed to Costa Hinojosa Michaud Fortenberry McHenry Stivers Costello Hirono Miller (NC) Foxx McIntyre Stutzman raising taxes at any cost. Does anyone Courtney Hochul Miller, George Franks (AZ) McKeon Sullivan believe that they’re going to use that Critz Holden Moore Frelinghuysen McKinley Terry

VerDate Mar 15 2010 05:19 Aug 02, 2012 Jkt 019060 PO 00000 Frm 00070 Fmt 4634 Sfmt 0634 E:\CR\FM\K01AU7.104 H01AUPT1 smartinez on DSK6SPTVN1PROD with HOUSE August 1, 2012 CONGRESSIONAL RECORD — HOUSE H5597 Thompson (PA) Walden Wolf Palazzo Rokita Stutzman IRAN THREAT REDUCTION AND Thornberry Walsh (IL) Womack Paul Rooney Sullivan SYRIA HUMAN RIGHTS ACT OF 2012 Tiberi Webster Woodall Paulsen Ros-Lehtinen Terry Tipton West Yoder Pearce Roskam Thompson (PA) The SPEAKER pro tempore. The un- Turner (NY) Westmoreland Young (AK) Pence Ross (AR) Thornberry Turner (OH) Whitfield Peterson Ross (FL) Tiberi finished business is the vote on the mo- Young (FL) tion to suspend the rules and agree to Upton Wilson (SC) Young (IN) Petri Royce Tipton Walberg Wittman Pitts Runyan Turner (NY) the resolution (H. Res. 750) providing Platts Ryan (WI) Turner (OH) for the concurrence by the House in the NOT VOTING—3 Poe (TX) Scalise Upton Akin Cardoza Jackson (IL) Pompeo Schilling Walberg Senate amendment to H.R. 1905, with Posey Schmidt Walden an amendment, on which the yeas and b 1811 Price (GA) Schock Walsh (IL) nays were ordered. Quayle Schweikert Walz (MN) The Clerk read the title of the resolu- So the motion to recommit was re- Reed Scott (SC) Webster tion. jected. Rehberg Scott, Austin West Reichert Sensenbrenner Westmoreland The SPEAKER pro tempore. The The result of the vote was announced Renacci Sessions Whitfield question is on the motion offered by as above recorded. Ribble Shimkus Wilson (SC) the gentlewoman from Florida (Ms. The SPEAKER pro tempore. The Rigell Shuster Wittman Rivera Simpson Wolf ROS-LEHTINEN) that the House suspend question is on the passage of the bill. Roby Smith (NE) Womack the rules and agree to the resolution. The question was taken; and the Roe (TN) Smith (NJ) Woodall This will be a 5-minute vote. Speaker pro tempore announced that Rogers (AL) Smith (TX) Yoder The vote was taken by electronic de- the ayes appeared to have it. Rogers (KY) Southerland Young (AK) Rogers (MI) Stearns Young (FL) vice, and there were—yeas 421, nays 6, RECORDED VOTE Rohrabacher Stivers Young (IN) not voting 3, as follows: Mr. LEVIN. Mr. Speaker, I demand a NOES—171 [Roll No. 546] recorded vote. Ackerman Green, Al Pallone YEAS—421 A recorded vote was ordered. Altmire Green, Gene Pascrell Ackerman Cicilline Andrews Grijalva Pastor (AZ) Gardner The SPEAKER pro tempore. This Adams Clarke (MI) Baca Gutierrez Pelosi Garrett will be a 5-minute vote. Aderholt Clarke (NY) Baldwin Hahn Perlmutter Gerlach Alexander Clay The vote was taken by electronic de- Barber Hanabusa Peters Gibbs Altmire Cleaver vice, and there were—ayes 256, noes 171, Bass (CA) Hastings (FL) Pingree (ME) Gibson Amodei Clyburn Becerra Heinrich Polis Gingrey (GA) not voting 3, as follows: Andrews Coble Berkley Higgins Price (NC) Gohmert Austria Coffman (CO) [Roll No. 545] Berman Himes Quigley Gonzalez Baca Cohen Bishop (NY) Hinchey Rahall Goodlatte AYES—256 Bachmann Cole Blumenauer Hinojosa Rangel Gosar Adams Dent Jenkins Bachus Conaway Bonamici Hirono Reyes Gowdy Aderholt DesJarlais Johnson (OH) Baldwin Connolly (VA) Brady (PA) Hochul Richardson Granger Alexander Diaz-Balart Johnson, Sam Barber Conyers Braley (IA) Holden Richmond Graves (GA) Amash Dold Jones Barletta Cooper Brown (FL) Holt Rothman (NJ) Graves (MO) Amodei Donnelly (IN) Jordan Barrow Costa Butterfield Honda Roybal-Allard Green, Al Austria Dreier Kelly Bartlett Costello Capps Hoyer Ruppersberger Green, Gene Bachmann Duffy King (IA) Barton (TX) Courtney Capuano Israel Rush Griffin (AR) Bachus Duncan (SC) King (NY) Bass (CA) Cravaack Carnahan Jackson Lee Ryan (OH) Griffith (VA) Barletta Duncan (TN) Kingston Bass (NH) Crawford Carney (TX) Sa´ nchez, Linda Grijalva Barrow Ellmers Kinzinger (IL) Becerra Crenshaw Carson (IN) Johnson (GA) T. Grimm Bartlett Emerson Kissell Benishek Critz Castor (FL) Johnson (IL) Sanchez, Loretta Guinta Barton (TX) Farenthold Kline Berg Crowley Chu Johnson, E. B. Sarbanes Guthrie Bass (NH) Fincher Labrador Berkley Cuellar Cicilline Kaptur Schakowsky Gutierrez Benishek Fitzpatrick Lamborn Berman Culberson Clarke (MI) Keating Schiff Hahn Berg Flake Lance Biggert Cummings Clarke (NY) Kildee Schrader Hall Biggert Fleischmann Landry Bilbray Davis (CA) Clay Kind Schwartz Hanabusa Bilbray Fleming Lankford Bilirakis Davis (IL) Cleaver Kucinich Scott (VA) Hanna Bilirakis Flores Latham Bishop (GA) DeFazio Clyburn Langevin Scott, David Harper Bishop (GA) Forbes LaTourette Bishop (NY) DeGette Cohen Larsen (WA) Serrano Harris Bishop (UT) Fortenberry Latta Bishop (UT) DeLauro Conyers Larson (CT) Sewell Hartzler Black Foxx Lewis (CA) Black Denham Cooper Lee (CA) Sherman Hastings (FL) Blackburn Franks (AZ) LoBiondo Blackburn Dent Costello Levin Shuler Hastings (WA) Bonner Frelinghuysen Loebsack Blumenauer DesJarlais Courtney Lewis (GA) Sires Hayworth Bono Mack Gallegly Long Bonamici Deutch Crowley Lipinski Slaughter Heck Boren Gardner Lucas Bonner Diaz-Balart Cummings Lofgren, Zoe Smith (WA) Heinrich Boswell Garrett Luetkemeyer Bono Mack Dicks Davis (CA) Lowey Speier Hensarling Boustany Gerlach Lummis Boren Dingell Davis (IL) Luja´ n Stark Herger Brady (TX) Gibbs Lungren, Daniel Boswell Doggett DeFazio Lynch Sutton Herrera Beutler Brooks Gibson E. Boustany Dold DeGette Maloney Thompson (CA) Higgins Broun (GA) Gingrey (GA) Mack Brady (PA) Donnelly (IN) DeLauro Markey Thompson (MS) Himes Buchanan Gohmert Manzullo Brady (TX) Doyle Deutch Matsui Tierney Hinchey Bucshon Goodlatte Marchant Braley (IA) Dreier Dicks McCarthy (NY) Tonko Hinojosa Buerkle Gosar Marino Brooks Duffy Dingell McCollum Towns Hirono Burgess Gowdy Matheson Broun (GA) Duncan (SC) Doggett McDermott Tsongas Hochul Burton (IN) Granger McCarthy (CA) Brown (FL) Edwards Doyle McGovern Van Hollen Holden Calvert Graves (GA) McCaul Buchanan Ellison Edwards Meeks Vela´ zquez Holt Camp Graves (MO) McClintock Bucshon Ellmers Ellison Michaud Visclosky Honda Campbell Griffin (AR) McHenry Buerkle Emerson Engel Miller (NC) Wasserman Hoyer Canseco Griffith (VA) McIntyre Burgess Engel Eshoo Miller, George Schultz Huelskamp Cantor Grimm McKeon Burton (IN) Eshoo Farr Moore Waters Huizenga (MI) Capito Guinta McKinley Butterfield Farenthold Fattah Moran Watt Hultgren Carter Guthrie McMorris Calvert Farr Filner Murphy (CT) Waxman Hunter Cassidy Hall Rodgers Camp Fattah Frank (MA) Nadler Welch Hurt Chabot Hanna McNerney Campbell Filner Fudge Napolitano Wilson (FL) Israel Chaffetz Harper Meehan Canseco Fincher Garamendi Neal Woolsey Issa Chandler Harris Mica Cantor Fitzpatrick Gonzalez Olver Yarmuth Jackson Lee Coble Hartzler Miller (FL) Capito Flake (TX) Coffman (CO) Hastings (WA) Miller (MI) NOT VOTING—3 Capps Fleischmann Jenkins Cole Hayworth Miller, Gary Capuano Fleming Johnson (GA) Akin Cardoza Jackson (IL) Conaway Heck Mulvaney Carnahan Flores Johnson (OH) Connolly (VA) Hensarling Murphy (PA) Carney Forbes Johnson, E. B. Costa Herger Myrick b 1819 Carson (IN) Fortenberry Johnson, Sam Cravaack Herrera Beutler Neugebauer Carter Foxx Jordan Crawford Huelskamp Noem So the bill was passed. Cassidy Frank (MA) Kaptur Crenshaw Huizenga (MI) Nugent The result of the vote was announced Castor (FL) Franks (AZ) Keating Critz Hultgren Nunes as above recorded. Chabot Frelinghuysen Kelly Cuellar Hunter Nunnelee Chaffetz Fudge Kildee Culberson Hurt Olson A motion to reconsider was laid on Chandler Gallegly Kind Denham Issa Owens the table. Chu Garamendi King (IA)

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