H8552 CONGRESSIONAL RECORD — HOUSE December 16, 2010 Murphy (CT) Ruppersberger Stark b 1933 The CHAIR. The gentleman will state Murphy (NY) Ryan (OH) Stupak his parliamentary inquiry. Murphy, Patrick Sa´ nchez, Linda Sutton Messrs. LIPINSKI and COSTELLO Nadler (NY) T. Teague changed their vote from ‘‘yea’’ to Mr. GOHMERT. My parliamentary Napolitano Sanchez, Loretta Thompson (CA) ‘‘nay.’’ inquiry is, since the rules of the House Neal (MA) Sarbanes Thompson (MS) So (two-thirds not being in the af- allow for someone in opposition to Nye Schakowsky Tiberi claim time in order to speak on a bill, Oberstar Schauer firmative) the motion was rejected. Tierney is that rule being abrogated now, or Obey Schiff Titus The result of the vote was announced Pallone Schock Tonko as above recorded. can we follow the rules and have some- Pascrell Schrader Towns one like me, who is opposed to the bill, Pastor (AZ) Schwartz Tsongas f Paulsen Scott (GA) claim time? Vela´ zquez Payne Scott (VA) TAX RELIEF, UNEMPLOYMENT IN- The CHAIR. No such rule is applica- Visclosky Perlmutter Sensenbrenner SURANCE REAUTHORIZATION, ble to these proceedings. Perriello Serrano Walz Wasserman AND JOB CREATION ACT OF 2010 Mr. GOHMERT. I’m sorry. I did not Peters Sestak understand. Peterson Shea-Porter Schultz The SPEAKER pro tempore. Pending Pingree (ME) Sherman Waters The CHAIR. There is no such rule. Polis (CO) Shuler Watson any declaration of the House into the Mr. GOHMERT. So this is set up now, Pomeroy Simpson Watt Committee of the Whole pursuant to the rules have been abrogated, so no Price (NC) Sires Waxman House Resolution 1766, the Chair would time is allotted to anyone in opposi- Quigley Skelton Weiner note that the Senate amendment to Reyes Slaughter Welch tion? Did I understand that correct, Richardson Smith (WA) Wilson (OH) the House amendment to the Senate Mr. Chairman? Rodriguez Snyder Woolsey amendment to the bill H.R. 4853 con- The CHAIR. The gentleman has not Ross Space Wu tains an emergency designation for stated a parliamentary inquiry. Rothman (NJ) Speier Yarmuth purposes of pay-as-you-go principles Roybal-Allard Spratt Mr. GOHMERT. Parliamentary in- under clause 10(c) of rule XXI and an quiry, then. NAYS—166 emergency designation pursuant to The CHAIR. The gentleman will state Aderholt Foxx Moran (KS) section 4(g)(1) of the Statutory Pay-As- his inquiry. Akin Franks (AZ) Murphy, Tim You-Go Act of 2010. Mr. GOHMERT. Under the rules of Alexander Gallegly Myrick Accordingly, the Chair must put the the House, going back to the Thomas Austria Garrett (NJ) Neugebauer question of consideration under clause Bachmann Gerlach Nunes Jefferson rules of the House, as adopted Bachus Gingrey (GA) Olson 10(c)(3) of rule XXI and under section by this majority in this term, someone Barrett (SC) Goodlatte Owens 4(g)(2) of the Statutory Pay-As-You-Go in opposition to a bill is always given Bartlett Graves (GA) Paul Act of 2010. the right to claim time. So I am asking Barton (TX) Graves (MO) Pence Biggert Griffith Petri The question is, Will the House now the parliamentary inquiry if that is Bilbray Guthrie Pitts consider the Senate amendment to the now the case, or if that rule—the Bilirakis Hall (TX) Platts House amendment to the Senate standing rule—is not going to be al- Bishop (UT) Harper Poe (TX) amendment? Blackburn Hastings (WA) Posey lowed at this time? Blunt Heller Price (GA) The question of consideration was de- The CHAIR. The gentleman’s premise Boehner Hensarling Putnam cided in the affirmative. is incorrect. Bonner Herger Rahall The SPEAKER pro tempore. Pursu- Mr. GOHMERT. The gentleman’s Bono Mack Hoekstra Reed Boozman Holden Rehberg ant to House Resolution 1766 and rule premise is incorrect? Boucher Hunter Reichert XVIII, the Chair declares the House in So someone can claim time in opposi- Boustany Inglis Roe (TN) the Committee of the Whole House on tion? Thank you. Brady (TX) Issa Rogers (AL) the state of the Union for the consider- The CHAIR. The House is operating Broun (GA) Jenkins Rogers (KY) Brown-Waite, Johnson (IL) Rogers (MI) ation of the Senate amendment to the under a rule that allocates control of Ginny Johnson, Sam Rohrabacher House amendment to the Senate the time for debate to the chair and Buchanan Jones Rooney amendment to the bill, H.R. 4853. ranking minority member of the Com- Burgess Jordan (OH) Ros-Lehtinen mittee on Ways and Means. Burton (IN) Kaptur Roskam b 1937 Calvert King (IA) Royce b 1940 Camp King (NY) Ryan (WI) IN THE COMMITTEE OF THE WHOLE Campbell Kingston Scalise Accordingly, the House resolved Mr. TAYLOR. Further parliamentary Cantor Kline (MN) Schmidt itself into the Committee of the Whole inquiry, Mr. Chairman. Cao Lamborn Sessions The CHAIR. The gentleman from House on the State of the Union for the Capito Lance Shadegg Mississippi will state his inquiry. Carter Latta Shimkus consideration of the Senate amend- Mr. TAYLOR. I understand that Cassidy Lee (NY) Shuster ment to the House amendment to the Chaffetz Lewis (CA) Smith (NE) under the rule just passed, the time has Senate amendment to the bill (H.R. Childers Linder Smith (NJ) been allocated to a proponent on this Coble Lipinski Smith (TX) 4853) to amend the Internal Revenue side of the aisle for the bill, a pro- Coffman (CO) LoBiondo Stearns Code of 1986 to extend the funding and Cole Lucas Stutzman ponent on this side of the aisle for the expenditure authority of the Airport Conaway Luetkemeyer Sullivan bill. The understanding was, though, and Airway Trust Fund, to amend title Costello Lummis Taylor that time would be allowed to the op- Culberson Lungren, Daniel Terry 49, United States Code, to extend au- ponents of this bill. Davis (KY) E. Thompson (PA) thorizations for the airport improve- Diaz-Balart, L. Mack Thornberry I am asking if the Chair or someone Diaz-Balart, M. Manzullo Tiahrt ment program, and for other purposes, would identify who that time will be Djou McCarthy (CA) Turner with Mr. SABLAN in the chair. yielded to. Dreier McCaul Upton The Clerk read the title of the bill. Duncan McClintock Walden The CHAIR. The rule provides for the Emerson McCotter Westmoreland The CHAIR. Pursuant to the rule, the debate time to be allocated equally and Fallin McKeon Whitfield Senate amendment is considered read. controlled by the chair and ranking Flake Mica Wilson (SC) General debate shall not exceed 3 minority member of the Committee on Fleming Miller (FL) Wittman hours equally divided and controlled by Forbes Miller (MI) Wolf Ways and Means. Fortenberry Miller, Gary Young (AK) the chair and ranking minority mem- The Chair recognizes the gentleman ber of the Committee on Ways and from Michigan. NOT VOTING—26 Means. Mr. LEVIN. I yield myself such time Berry Hare Ortiz The gentleman from Michigan (Mr. as I may consume. Brown (SC) Johnson, E. B. Radanovich LEVIN) and the gentleman from Michi- Buyer Kilroy Rangel The Democratic majority in the Cleaver Marchant Rush gan (Mr. CAMP) each will control 90 House has made it crystal clear that DeGette McCarthy (NY) Salazar minutes. we stand on the side of middle income Gohmert McHenry Tanner PARLIAMENTARY INQUIRIES families, of unemployed workers, of Gordon (TN) McMorris Van Hollen Granger Rodgers Wamp Mr. GOHMERT. Mr. Chairman, I have small businesses struggling in this dif- Halvorson Olver Young (FL) a parliamentary inquiry. ficult economy. The compromise before

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00032 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8553 us clearly requires painful choices. these last weeks, obstructing and hold- Senate. And the President has flatly These choices relate to each of the ing hostage everything until they get refused to sign such legislation into three criteria for judging the merits of their way on the tax breaks for the law. So again, tell me, how do we get a this package: Does it add to the def- very wealthy, I am not willing to put better deal by waiting? It makes no icit? Does it promote economic the fate of the middle class and the un- sense to gamble with the American growth? And does it promote fairness? employed in the hands of the Repub- people’s jobs and the very paychecks For decades, Republicans have un- lican majority next year. Especially they rely on to put food on the table wisely promoted a view that tax cuts when voiced by the Senate Republican and keep the house warm this winter. pay for themselves. So while making leader that their main priority is the Americans are suffering through the deficit reduction their rhetoric, they failure of our President. deepest and longest recession since the never have had any intention of paying I reserve the balance of my time. Great Depression. This is not a time for tax cuts which add to the deficit, Mr. CAMP. Mr. Chairman, I yield for political speeches or electoral pos- plain and simple. Adding to the deficit myself such time as I may consume. turing. This is a time to act respon- is defensible if the bill meets another This House—the people’s House—has sibly, to do what is right, and to vote criterion: Does it promote economic a simple choice today: raise taxes on ‘‘yes.’’ Employers are begging us to growth? Adding to the deficit in the families and small businesses or pre- pass this legislation. Small businesses short term as a tool to promote eco- vent a massive job-killing tax increase and the National Federation of Inde- nomic growth that will, in turn, help from going into effect a mere 16 days pendent Business are supporting the address the long-term deficit has been from now. bill because they know they cannot af- the basis of vital actions taken by the If you think our economy can handle ford a tax hike. The Business Round- Democratic majority, actions to stem higher taxes, if you think middle class table which represents the largest em- the financial crisis, jump-start the families should lose roughly $100 per ployers in the country with over 12 economy, and save the auto industry. week out of their paychecks, then vote million employees is supporting this These were necessary steps, sometimes ‘‘no’’ today. Make no mistake about it, bill because they know the economy unpopular ones, and steps unfortu- a ‘‘no’’ vote today is a vote for higher cannot afford a tax hike. nately not effectively articulated at taxes, taxes that would devastate fami- b 1950 times by the administration. lies and send shock waves throughout This bill does include important pro- our economy. The U.S. Chamber of Commerce is visions aimed at increasing economic If you believe we should stop this supporting this legislation because growth and jobs: unemployment insur- massive tax increase in its tracks, es- they know we cannot afford a tax hike. ance for millions out of work who will pecially when unemployment is stuck The National Association of Manufac- spend money received to keep their at nearly 10 percent, then vote ‘‘yes.’’ turers is supporting this legislation. families afloat; the middle income tax If you want to be sure we don’t extend Economists across the spectrum, from cut; the temporary reduction in payroll the failed Making Work Pay policy the far left to the far right, are sup- taxes; and business provisions like the from the failed stimulus law that has porting this legislation, and so should R&D tax credit, the new markets cred- the IRS writing checks to people who the Members of this House. it, and full expensing of business in- pay no income or payroll taxes, then By no means is this bill perfect. For vestment for 1 year. vote ‘‘yes.’’ If you are opposed to the example, I think we should have paid Unfortunately, in their zeal to undo Federal Government taking more than for the extension of unemployment in- the Recovery Act, Republicans have in- half of a family farm or business due to surance and, frankly, we will. I’m com- sisted that we not extend the success- a death, then vote ‘‘yes.’’ And if you mitted to producing legislation next ful 48C credit for advanced engineering are interested in fundamental tax re- year to revamp, reform, and pay for the manufacturing or the Build America form—getting rid of exemptions, de- Federal unemployment benefits our Bond program, working to rebuild our ductions, and loopholes that com- Nation provides. We should not have to economy. The Republicans have in- plicate our Tax Code—then vote ‘‘yes’’ choose between adding to the deficit sisted on provisions that violate the because this bill gives us the time that and providing this important help, but third criterion, fairness for taxpayers. we need to rewrite the Tax Code, cut we cannot allow that single concern to In order for the administration to be spending next year, and get our econ- hold this bill up. able to include provisions that help omy back on track. Time has run out. This is our only lower and middle income families, it I know some of my friends want to chance, and the harm to our economy came at the price of assisting the very wait until January when Republicans and the hit families would suffer is far wealthy, the Republicans’ priority. are back in the majority because they too great a risk. Their position has led to a package think that we can get a better deal. And let’s be clear, this bill is about where the top six-tenths of 1 percent of That is as misguided as it is politically taxes, longstanding tax policy, for that the very wealthiest receive 20 percent callous. And let me be blunt. It’s irre- matter, and preventing a tax hike. It of the benefits of the tax package. My sponsible to play a game of chicken isn’t about spending. Nearly 90 percent amendment would strike a blow at this with the Senate and the White House of this bill is tax policy, and that pol- unfairness by replacing the highly irre- next year when middle class Americans icy is aimed at preventing a tax hike sponsible and unfair Kyl estate tax are literally forced to pay $100 more a for families and employers or providing giveaway. The resulting $23 billion in week in taxes and are forced to suffer direct tax relief to the American work- additional borrowing won’t go to cre- even greater job losses. If this bill fails er. ate jobs. It will be used to provide an today, that’s what will happen. Pay- It also protects family farms, ranches average tax cut of more than $1.5 mil- checks and jobs will burn while Wash- and businesses from being hit by the lion to the 6,600 wealthiest estates next ington fiddles. destructive death tax. That will go as year. This represents less than three- If that’s your stance, then I ask, high as 55 percent next year if we do tenths of 1 percent of all estates. What better deal could we get? People not act. Instead, this bill reduces that I urge my colleagues to vote to talk about making tax rates perma- rate to 35 percent, while increasing the change this egregious piece of the leg- nent. That’s something I support. exemption amount from $1 million to islation so the American people can see That’s something every Republican in $5 million. clearly who puts the interests of the this House supports. But how does Now, I know $1 million sounds like a middle class ahead of the very wealthi- waiting until January, February, lot of money, and it is. But think about est. And then the Republicans in the March, April, or May make that a re- the family farmers in your districts. Senate will have a stark choice that ality? Think about the costs of the big ma- might be painful for them. It would The Senate voted yesterday on the chinery it takes to operate and manage make it clear whose side they are on. DeMint amendment which would have their land. Some of the combines I see I will accept the remainder of the bill made the rates permanent, and it failed every day in my district cost a quarter because after the approach taken by 37–63. Last time I looked, we didn’t of a million each. That isn’t cash in the Republicans in the House and Senate pick up 23 seats in the United States bank. That’s equipment in the field,

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00033 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8554 CONGRESSIONAL RECORD — HOUSE December 16, 2010 and the Federal Government has no In addition to that, we find that all small businesses. I commend Mr. CAMP right to take half of it when mom or of the tax benefits seem to be centered for his dedication to protecting tax- dad passes on. among the people who are the richest payers and his hard work on this legis- While I support a total repeal of the that we have in this country, while we lation. In the next Congress, I look for- death tax, at least this bill makes sig- find more and more Americans going ward to working with Chairman CAMP nificant improvements to the estate into poverty. I submit to you that de- to fix this bill’s flaws. We must bring and gift taxes, and it deserves our sup- mocracy cannot grow with this type of permanency to the Tax Code, and we port. diversity, where we find so much must cut wasteful Federal spending, Members should also know, and the wealth held in the hands of so few and both to pay for the unemployment ben- American people should know, that so many other people are without jobs efits and also to start bringing down this bill does not contain new policy. and without hope. our unsustainable Federal deficit. New provisions were not snuck in late It would seem to me that we have Finally, I know from personal experi- in the night or behind closed doors. We time to correct these things. There’s ence how much of a burden the death took a firm stand against new policy. nothing in the Constitution or the tax is for family businesses. My rel- We took a firm stand against policy House rules that indicates that we atives on my mother’s side of the fam- that had not been renewed repeatedly can’t work closer to Christmas. I know ily had to sell our own family’s farm in and, as a result, more than 70 provi- other people believe that this would be North Dakota just to pay the death tax sions, some of them my own, were ex- a violation of Christian values. But bill. That should not happen in Amer- cluded from the bill, well over $100 bil- helping those people who are poor, ica. lion worth. helping those people who are without I urge the House to vote ‘‘no’’ on the The most notable provisions of these jobs, I submit to you and to Christians, Pomeroy death tax amendment and we terminated were from the failed Jews and Gentiles, that this will be the ‘‘yes’’ on the Senate bill. stimulus bill, like the refundable Mak- proper thing to do, with the spirit of b 2000 ing Work Pay credit, the Build Amer- Christmas, rather than just to do what ica Bonds program, which simply sub- people outside of the House have dic- Mr. LEVIN. I yield 2 minutes to the sidized State and local governments tated that if we don’t do it their way, very distinguished gentleman from going deeper into debt, and grants in then these people that we have such a North Dakota, a member of our com- lieu of the low-income housing credit. moral commitment to will go without mittee, Mr. POMEROY. None of that is in here, nor are there compensation, and the rest of the peo- Mr. POMEROY. Madam Chair, for the the usual Washington Christmas tree ple that deserve a tax break would be last five sessions I have worked to try ornaments. This bill is narrowly fo- denied if we don’t go along with the and clarify the rate of estate taxation cused on tax and unemployment policy. in this country. I felt the right ap- Unlike the omnibus Democrats are package. So, to Members who are coming to proach was ultimately to take the 2009 preparing, there are no earmarks like levels and make them permanent. the $2 million for an Ice Age National this body, this is a new set of rules, a new set of tradition; but I tell you, it is The amendment that carries my Scenic trail in Wisconsin. There isn’t a name in this debate would take the $3.5 million study on subterranean ter- not the American tradition that I knew and loved so well. 2009 levels for estate taxation instead mites in New Orleans, and there cer- of the levels contained in the Senate tainly isn’t an extra $1 billion for the Mr. CAMP. I yield 3 minutes to a dis- tinguished member of the Ways and compromise. new job-killing health care law. The rationale for the 2009 level is My friends, the election’s over. Let’s Means Committee, the gentleman from California (Mr. HERGER). pretty compelling. The estate tax in not start the next campaign here 2009 was the smallest rate of taxation today. Let’s make the right choice. Mr. HERGER. Madam Chairman, the on estates in 80 years. Let’s stop this tax hike from going into bill that came to us from the Senate is My friend just referenced an estate effect in 2 weeks. Let’s put our con- far from perfect. I’m going to vote tax situation encountered from his stituents’ jobs before our own. Let’s ‘‘yes’’ because if the scheduled $3.8 tril- family. He did not say it was at a much show the American people we can gov- lion tax increase takes effect in just 2 higher rate of tax than was ultimately ern and we can take yes for an answer. weeks, the consequences for our econ- So let’s pass this bill with broad bi- omy could be catastrophic. Even if we achieved in 2009. In fact, the rate in partisan support, as the Senate did yes- reversed this tax hike next year, fami- 2009 means 99.8 percent of the families terday by a vote of 81–19. I urge my col- lies and small businesses would see in this country have no estate tax. leagues to vote ‘‘yes.’’ higher taxes immediately on January Zero. It went gradually lower and Mr. Chairman, I reserve the balance 1. lower, and in 2009 hit a lower rate of of my time. According to the Tax Foundation, taxation for estates than was ever the Mr. LEVIN. Mr. Chairman, I yield 2 the average middle class family in my case under Ronald Reagan, was ever minutes to the very distinguished gen- own northern California district would the case under George Bush I, was ever tleman from New York (Mr. RANGEL). see their Federal income taxes more the case under George W. Bush. (Mr. RANGEL asked and was given than double. People in my district are Now, why would we want to go with permission to revise and extend his re- already struggling. Small businesses 2009 levels as opposed to the Senate marks.) are barely hanging on. The unemploy- deal? It’s simply a matter of money: Mr. RANGEL. Tonight is going to be ment rate is near 20 percent in several $23 billion over 2. And, quite possibly, a rather historic vote. In the old days, counties I represent. We simply cannot the levels in the Senate bill would be the House would initiate tax bills, and afford this enormous tax hit. the new rate for the estate tax. In that then we would send it to the Senate, This has been a difficult decision for case, we would lose $90 billion over 10. and then the Senate and the House me. I’m outraged that the President I have heard on the other side such would come together and have what and the Democratic leaders are de- concern about unpaid-for unemploy- was known as a conference. manding billions of dollars in unpaid- ment benefits. I have not heard one But it’s clear to me that rules are for spending on unemployment benefits word about unpaid-for estate tax lev- changing fast, and now that the House and special interest giveaways as the els. They would add to the national has spoken in terms of a tax bill, in price for stopping a massive tax in- debt $23 billion more than the 2009 lev- terms of giving some comfort to those crease. els. They don’t pay for a cent of it, and people who are unemployed, it seems to Additionally, we should be making they seem to think that is fine. Do you me now that it works that the Presi- the current tax rate permanent. If know who benefits from the Senate tax dent works with a handful of Repub- businesses face the threat of another levels compared to the 2009 levels? 6,600 licans and tells us, on the House side, tax increase in 2 years, they will be re- of the wealthiest families. that if we change anything, there’s ab- luctant to make investments that pay Let’s go with the 2009 levels. Let’s solutely no deal. I think the President off in 5 or 10 years. save $23 billion over 2, let’s save $90 bil- said that these people that were unem- Madam Chairman, we have to provide lion over 10. Let’s tackle these deficits, ployed were being held as hostage. long-term certainty for America’s starting with a fair estate tax level.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00034 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8555 Mr. CAMP. I yield 4 minutes to a dis- Mr. NEAL. I thank the gentleman. conservative radio talk show host or tinguished member of the Ways and Madam Chair, I am standing in oppo- Tea Party constituents would have Means Committee, the gentleman from sition to this proposal. When we de- liked written; and it is not the bill that Texas (Mr. BRADY). bated the middle income tax cut a few The New York Times editorial page or Mr. BRADY of Texas. Madam Chair, weeks ago, I spoke in favor of a tax the President himself would have writ- a gun is pointed at the head of our tax- system that we might design for the fu- ten. It is a compromise. This is what a payers, and it will go off January 1 un- ture, a progressive system with sub- compromise looks like. Some so-called less Congress acts. stantial tax relief for working families, constitutionalists want to ignore the If we let that gun go off, it is going and, in our own Democratic caucus, fact that the Constitution itself actu- to hurt families who are struggling to suggested that the number $250,000 was ally was a compromise, with a capital make ends meet, it is going to hurt too low; that if we raised that ceiling ‘‘C.’’ small businesses trying to survive this to $500,000, we could take care of every And while we are still in this bipar- recession, it is going to hurt seniors, S corporation, we could take care of tisan moment of clarity, let me say a almost tripling the taxes on the divi- every small business person who at the few other things. First, while I strong- dends that they need to live month to end of the month uses their credit card. ly disagreed with the policies put forth month and day to day. It is going to That was rejected. But I still thought by my Democrat colleagues, I do not hurt businesses trying to track capital. that was a reasonable compromise. envy them for having to preside over And it is going to revive the death tax, Now, when my friend Mr. CAMP spoke the biggest economic collapse in a gen- an immoral tax where you work your a couple of minutes ago, he delineated eration. And while I believe their eco- whole life to build up your nest egg, the clearest position of the two parties nomic premise is misguided, I cannot your small business, your family- when he said he was upset that we were fault any legislator for sticking to his owned farm, and when you die, Uncle not paying for the extension of unem- or her principles. Sam swoops in and takes more than ployment benefits. b 2010 For years they borrowed the money half of everything you have earned. All What I do believe is unforgivable, for Iraq, they borrowed the money for that happens if Congress refuses to act. however, is the tremendous uncer- Some are here today saying, no, let’s Afghanistan, and, I challenge anybody tainty that has been created over the not change that death tax. Let’s raise on the other side tonight to dispute past few years. Uncertainty is not good that death tax. this point, they borrowed the money for families; it is not good for inves- Last night on my Facebook page, I for the Bush tax cuts as well. That is tors; it is not good for employers. got a posting from Tammy Fisher of what we are discussing here. Regardless of the cause, all economic East Texas. Her family has had to sell Now, the reason that I stand in oppo- crises are ultimately a crisis of con- 6,000 acres of their timber land to pay sition to this proposal tonight—be- fidence. Frankly, the Democrat-con- the death tax. They held that land for cause there are many good provisions trolled government has contributed to 100 years. in this bill, including alternative min- that. At a basic level, beyond all of the Clarence Leaveritt of Texas is a imum tax, and I do wish the Build fancy models and theory, the economy rancher. His grandmother died. They America Bonds program was in here— is really not that complicated. Uncer- had to take out a loan from the bank this represents a serious threat to the tainty leads to doubt, doubt leads to to pay the death tax. They are still solvency of the Social Security system. fear, and fear leads to paralysis; and paying on it. His father passed away re- We will never return that number down that, ladies and gentlemen, is exactly cently, and they had to take out a sec- the road. And you mark my words to- where our country is today. ond loan. Today he is paying two loans night, what they will argue down the By refusing to work with this side of to Uncle Sam and can barely keep his road is the Social Security system has the aisle until this point, we have pro- ranch. And last night, we heard Demo- been weakened, proving that you need longed uncertainty and aggravated the crats say, Those people are stingy and private accounts. Their fingerprints fear. Even here today, in what feels cheap, and haven’t worked a day in will be all over it. They will suggest like a great legislative compromise, their life. this proves the theory of the benefit of the most we can deliver for the Amer- All that death tax comes back Janu- a private account. ican people is a year of this and 2 years ary 1 if we don’t act. And I’ll tell you So we borrowed the money for Iraq. of that. what, we have some very good friends And when I said to President Bush in The uncertainty must end, Madam of mine who say, ‘‘Look, just let that 2001 in the Oval Office, ‘‘Mr. President, Chair, and I believe Mr. CAMP when he gun go off because we can get a better modest tax cuts for middle income says that we are going to work on that deal later.’’ Well, I am conservative Americans,’’ it was rejected. And that in January when the Republican ma- and I am skeptical, and I am not rais- is why we are in the condition that we jority takes over. At this point, I don’t ing taxes for anyone for any period, pe- are in today financially. much care what the policy is. I just riod. Mr. CAMP. I yield 5 minutes to a dis- think it needs to be set in stone. My I don’t like the spending in this bill, tinguished member of the Ways and constituents want to see all the tax and I offered an amendment, along Means Committee, the gentlewoman cuts extended permanently, and they with other conservatives, to cut $152 from Florida (Ms. GINNY BROWN- want the estate tax eliminated perma- billion from this bill to cover all the WAITE). nently. costs. We couldn’t get a vote on that. Ms. GINNY BROWN-WAITE of Flor- Now, let me make it clear: I probably We are voting on a lot of things to- ida. Madam Chair, I rise today in sup- have about five wealthy people living night, but not a straight up-or-down port of grownups, grownups who realize in my district, so some might say, vote on trimming government. that the end of the year is coming, and What do they care about the estate We didn’t get that vote, but I can tell taxes will be raised if we don’t act now. tax? While they may not be wealthy, you, on the spending cuts, this isn’t the When I first came to Congress, I they certainly hope that sometime in end of that discussion; it is the begin- knew that partisanship had taken over. their life they will be wealthy or their ning. When we have a new Republican I knew the enormous extent of the children will be, and they realize the majority, I’m going to take that gun philosophical divide, but I didn’t fully impact of that. And based on the eco- down from our taxpayers’ head. I’m realize that entire years would go by nomic situation, it is kind of a mystery going to give them a chance to keep without the two sides working together to me why they would even care so their own money, get this economy to come up with an answer for the much about these rich people, but as I going, and keep fighting for permanent American people. Sadly, it seems it said, they probably would like to work tax relief and a permanent death tax takes a genuine crisis and a sense of hard and become them. repeal. panic before we can work together. In Madam Chair, we know better and Mr. LEVIN. I now yield 2 minutes to any case, here we are. our constituents know better. If they the distinguished gentleman from Mas- The bill before us is not the bill that aren’t rich, they have lived just long sachusetts (Mr. NEAL), an active mem- I would have written, that I would have enough to know that in this world ber of our committee. participated in; it is not the bill that there are no free lunches. You have to

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00035 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8556 CONGRESSIONAL RECORD — HOUSE December 16, 2010 work for what you get and you have to are, and on small businesses. That cov- ington’s money, the government’s fight to keep it. So even though many ered 98 percent of Americans. money, or is it the people’s money who of them are poor and even though But for those of you who are saying earned it? I hear all this talk about the many of them are struggling, my con- we need to continue tax breaks for the death tax, the estate tax. This is going stituents don’t want handouts. My con- wealthiest 3 percent that is included in to give a windfall to these people, all stituents just want to be able to earn this bill, I say, find corresponding this money going to these privileged an honest living and rest easy at night spending cuts in the budget to pay for people who have built these businesses, knowing that the government isn’t it so we are not having to go to China made all this money. It’s their money. going to come in and suddenly swoop in to borrow another $300 billion and add- Which is it? Do we have a country and take everything away from them. ing to the debt burden of our children built on equal natural rights, where For them, Madam Chair, it is more and grandchildren. you can make the most of your life, get than a matter of principle—it is simply These are two unstated facts that we up, work hard, take risks, become suc- a way of life. have before us today that no one is cessful, create jobs, grow businesses, do My constituents are upset that the talking about and that are not being well, earn success, and, yes, pass it on tax cuts aren’t permanent, and many reported in the media. First, our effec- to your kids? What on Earth is wrong of them believe I should vote against tive tax rate in this country today is at with that? That’s the American Dream. this bill. a 60-year low. A 60-year low. That pre- And to my friends on my side of the In short, the story cannot explain dates the Medicare program and it cer- aisle who simply don’t like some of the that despite the fact that only 2 per- tainly predates the 80 million baby spending in this bill, I don’t like it ei- cent of Americans are rich, more than boomers who are about to begin their ther. So let’s cut the spending next half the country does not want them to massive retirement and join Medicare year when we’re in charge. be taxed more to expand government and Social Security. There’s junk in the Tax Code. Every- spending. You know, the truth of the But also, the effective tax rate for body agrees with this. This is advanc- matter is, Madam Chair, it is simple. the wealthiest 3 percent is not the 36 or ing some of the junk in the Tax Code. They don’t want government’s help and 39 percent marginal rate that some And what I say to my friends on the they don’t want our generosity with talk about. The effective tax rate for other side of the aisle is, next year, other people’s money. My constituents the wealthiest 3% is 17 percent, after let’s get rid of that junk in the Tax simply don’t buy it. They don’t want a they itemize and they deduct and back Code when we’re in charge. But right nanny state, and they don’t want some- out their expenses with the numerous now, let’s not hit the American people body else to have to pay for it—not tax loopholes that exist in the current with a massive tax increase. their kids, not the Chinese, not their code. That is less than the average If we want to get this debt under con- grandchildren, and not rich people. working family is paying with their ef- trol, if we want to get our deficit going The Acting CHAIR (Ms. NORTON). The fective tax rate. We cannot sustain down, there are two things we need to time of the gentlewoman has expired. that. It is irresponsible. be doing: We need to cut spending and Mr. CAMP. I yield the gentlewoman Now, about a week from now little we need to grow the economy. an additional minute. boys and girls around the country are We need prosperity in this country. Ms. GINNY BROWN-WAITE of Flor- going to be waiting for Santa Claus’ ar- We need job creation. We need people ida. I thank the gentleman. rival. And I hope they are not watching going from collecting unemployment Their philosophy and mine is we this debate tonight, because the truth to having a job and paying taxes so the want the government to reward hard is there is no Santa Claus for the U.S. revenues can reduce the deficit. And if work, savings, investment, and job cre- economy. But there are too many peo- we raise taxes, even the Congressional ation. I simply don’t think these things ple in this Congress who think that Budget Office is telling us, if this bill should be punished, and certainly not their Kris Kringle is China that they fails and these tax increases continue, in the name of fixing everybody’s prob- can run to and borrow money from in we’re going to lose 1.25 million jobs lems everywhere, because at the end of order to sustain a fiscally and economi- next year. Do we want to do that? the day, doing that will just create cally reckless policy. Rather than their Low tax rates give us economic more problems, more uncertainty, and children leaving out cookies and milk growth. Low tax rates make us com- more panic. for Santa, they instead should leave petitive in the international economy. Finally, Madam Chair, my constitu- out their piggy banks because of what Low tax rates allow businesses to plan. ents know that we will never climb out we’re doing to them in this bill. Is this a growth package? No, it’s not of this ditch as long as we keep moving We can do better, and I encourage my a growth package. You know why it’s that ladder. Keeping taxes low has to colleagues to vote ‘‘no’’ on this legisla- not a growth package? Because it still be our goal. That is the ladder to get- tion. proposes to move this uncertainty for- ting out of that ditch. Mr. CAMP. I yield 5 minutes to a dis- ward. It’s only a 2-year extension. I urge adoption of the bill. tinguished member of the Ways and b 2020 Mr. LEVIN. Madam Chair, I yield 2 Means Committee and the ranking minutes to the distinguished gen- member on the House Budget Com- So we’re not talking about a pro- tleman from Wisconsin (Mr. KIND), a mittee, the gentleman from Wisconsin growth economic package, but we’re member of our committee. (Mr. RYAN). talking about preventing a destructive (Mr. KIND asked and was given per- Mr. RYAN of Wisconsin. I thank the economic package from being inflicted mission to revise and extend his re- gentleman for yielding. on the American people in about 2 marks.) Madam Chair, let me address just a weeks. The last thing you want to do is Mr. KIND. Madam Chair, I rise in op- few of the issues that I have been hear- put more uncertainty in the economy, position to the underlying bill and in ing here on the floor. I am hearing hit the economy with a huge tax in- support of the Pomeroy amendment. some of my colleagues from the other crease, trigger a stock market sell-off, But let’s be clear what this legislation side of the aisle saying, ‘‘We just can’t and lose jobs. does tonight. It adds another $1 trillion afford these tax cuts.’’ Well, let’s look So do we want to make these perma- to our national budget deficit over the at it. nent? You bet we do. And that’s ex- next 2 years. One trillion dollars. Only in Washington is not raising actly what we’re going to be advanc- Given the weak recovery we have taxes on people considered a tax cut. ing. But the last thing we want to do is going on with our economy, I think ev- What we are talking about here is not inject more uncertainty, raise taxes. eryone is in agreement that now is not cutting taxes. We are talking about We need economic growth. We need the time to be increasing taxes on keeping taxes where they are and pre- spending cuts. That’s exactly what we working families and small businesses. venting tax increases. intend on doing. And I think that’s the We did that. We had that vote just a The second point: We, meaning the message the voters sent us here. So couple of weeks ago, where we pro- government, can’t afford this. Whose let’s prevent this tax increase from tected tax relief on the first $250,000 money is this, after all? Is all the happening. Let’s clean up the stuff we worth of income, no matter who you money that is made in America Wash- don’t like in this bill next year. And

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As Stock- cost will add to the deficit in coming going to turn it around. Next year, man put it, they would cut ‘‘real blood years. While taxing is a functioning of let’s pass the policies that will turn and guts stuff.’’ You heard it from the government, the Federal Government this economy around. Budget chairman a few moments ago. is not entitled to any specific amount Mr. LEVIN. I now yield 15 seconds to When they’re in charge, they plan to of revenue from the American people. Mr. WELCH of Vermont, followed by 3 cut real blood and guts stuff. What is the ‘‘cost’’ of letting Ameri- minutes to Mr. JACKSON of Illinois. Mr. Chairman, if this tax deal goes cans and job creators keep their own Mr. WELCH. We have been awarded through, blood and guts will affect us. money? Because of budgetary gim- 45 minutes to state our objections to At a time when they’re needed the micks in Washington, many Members this bill. And it is essentially this: Too most, they will put these important of Congress have lost sight of the fact much debt, too few jobs, too much risk programs on the chopping block. In- that the money Congress spends comes to Social Security. deed, Mr. Chairman, we refuse to be- from the American people, is owned by Our lead speaker is the member from lieve that the American people should the American people, and the debt we Illinois (Mr. JACKSON). be forced to accept this tax deal, to ac- accrue falls on their shoulders. Instead Mr. JACKSON of Illinois. Mr. Chair- of following the budgetary common man, in about a month, almost every cept ‘‘insufficient funds.’’ We see $858 sense possessed by most Americans, Member of this body will be speaking billion that should be in the vaults of at events in their district commemo- opportunity of this Nation. And that’s Democrats and Republicans in Con- rating the life of Rev. Martin Luther why we oppose this bill. gress have routinely spent well beyond Members will follow me opposed to King, Jr., and his famous, ‘‘I Have a their means. any argument that say there are insuf- Now, many of my colleagues are Dream’’ speech. Amid the soaring rhet- looking to the pockets of the American oric and the beautiful prose, Dr. King ficient funds in the great vaults of op- people to foot the bill rather than mak- made a clear point. In a sense, we have portunity to rebuild this Nation. Mr. CAMP. I yield 5 minutes to a dis- ing tough choices to cut spending in come to our Nation’s capital ‘‘to cash a tinguished member of the Ways and Washington. If less tax revenue is com- check. When the architects of our Re- Means Committee, the gentleman from public wrote the magnificent words of ing into the Treasury, Congress has an Kentucky (Mr. DAVIS). the Constitution and the Declaration obligation to spend less. Democratic Mr. DAVIS of Kentucky. Mr. Chair- of Independence, they were signing a leadership in the House refuses to ac- man, today we debate legislation to promissory note to which every Amer- cept that proposition. Rather than prevent taxes from increasing on all ican wants to fall heir. That note was take steps to solve excessive congres- taxpayers as our economy struggles to a promise that all men would be guar- sional spending, Democrats in Congress recover. We know without any doubt anteed the inalienable rights of life, have had one response to the problem that virtually all Americans will be liberty, and the pursuit of happiness.’’ of our mounting debt: send more And I paraphrase, It is obvious today forced to send more of their hard- money. that America has defaulted on this earned dollars to Washington on Janu- Americans have lost faith in the abil- promissory note. Instead of honoring ary 1, 2011, if we fail to act. ity of their Federal Government to this sacred obligation, America has Although this legislation is not per- demonstrate fiscal responsibility and given the people a bad check which has fect in my estimation, the package self-control. Why would they trust come back marked ‘‘insufficient does provide a measure of certainty those who claim the tax increases are funds.’’ But we refuse to believe the and predictability that will allow the answer to our fiscal problems? bank of justice is bankrupt. We refuse broader debate in the coming Congress With the tax record of this Congress, to believe that there are insufficient without immediately damaging our increasing taxes is tantamount to en- funds in the great vault of opportunity fragile economy. This package will pre- trusting your teenager with a credit in this great Nation. So we have come vent devastating tax increases from card. to cash this check—a check that will falling on the backs of hardworking This past November, voters sent a give us upon demand the riches of free- Americans, small businesses, and job- clear message, a restraining order on dom and the security of justice. creating investments. Washington: stop the political games Mr. Chairman, if we pass this bill, it This imperfect legislation represents with our economy, restore fiscal sanity will signal a refusal to pay our fair the best agreement that can be reached to Washington, and create certainty share into the vaults of opportunity for by Republicans and Democrats deter- and stability in our markets. American all Americans. It will drive up the debt mined to avoid the shock to our econ- families and small businesses can’t af- and put pressure on our Nation’s Cap- omy that would come from increasing ford for Congress to play chicken with ital to cut programs for the most vul- taxes on the American people and their hard-earned tax dollars rather nerable. If this agreement passes, when many of our job creators. A vote than renewing the expiring tax cuts. out-of-work Americans look in the against this agreement, which would Therefore, if Congress chooses to ig- 112th Congress for help in paying their prevent the largest tax increase in his- nore the demands of the people, drag- rent, our Nation’s Capital will look to tory, is really a vote for a $3.8 trillion ging the debate into the next year, the those Americans and say, insufficient job-killing tax increase. Regardless of result will be more money taken out of funds. When we look to veterans who what side of the aisle the opposition American families’ paychecks, impeded need health care that is owed them, the comes from, they’re willing to accept job creation, and more partisan polit- 112th Congress will say, insufficient the proposition that taxes will increase ical bickering. funds. When our schools look for fund- for all Americans. They may hope to Were I drafting this legislation, I ing they need to teach our kids, our gain political points, but I am not will- would repeal the AMT, permanently Congress will say, insufficient funds. ing to let perfect stand in the way of abolish the estate tax, make the tax re- Mr. Chairman, this bill will only good when it comes to matters that ductions permanent for all Americans, drive up the deficit, which is already negatively impact the paychecks of and insist that the unemployment too high in the eyes of the American Kentuckians. compensation be offset by common- people. It will put even more pressure Earlier this week, this package sense spending reductions. However, on Congress and the President to cut earned the bipartisan support of more President Obama has made it clear vital programs when we convene next than 80 Senators. If we fail today, mid- that he won’t sign an extension of cur- year. dle class families will see roughly $100 rent tax relief without the unemploy- If this sounds familiar to the Amer- per week taken out of their paychecks. ment provisions or that makes the 2001 ican people, it should. In the early Increasing taxes now will cause more and 2003 tax relief permanent. Congress

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00037 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8558 CONGRESSIONAL RECORD — HOUSE December 16, 2010 must develop and adopt a workout plan promise. We need to do this. We need to (Mr. INSLEE asked and was given to eliminate the deficit just like any do this to prevent a massive tax in- permission to revise and extend his re- business or family in financial trouble. crease on the American people, on marks.) Congress must learn from the mis- American families and on American Mr. INSLEE. Mr. Chairman, I came takes epitomized by Washington’s businesses. to peace with my decision on this bill ‘‘bailout’’ culture and support policies The clock is ticking and the Amer- this weekend when I was holding my 2- to increase American competitiveness ican people are waiting. If Congress year-old grandson, Brody, who was and improve the economic climate for doesn’t approve this proposal, our checking out the Christmas tree. I be- entrepreneurs and small businesses. small businesses will be saddled and came focused on the real question be- The road to prosperity allows you to crushed by a $858 billion tax hike. One- fore us: Is it right to put $858 billion of take more home to your family and third of all business activity in the debt on that kid’s shoulders? The an- enjoy the economic freedom that his- United States will see higher taxes— swer is ‘‘no’’ for three reasons. torically has been a hallmark of Amer- businesses that create 80 percent of our First, this bill represents an old and ican culture. jobs in this country. Raising taxes on unsuccessful experiment in supply-side Mr. MCDERMOTT. I yield 2 minutes small businesses in the middle of a re- economics. It has failed time and time to the gentleman from Texas (Mr. cession is absolutely the last thing again. In 2001, it was going to create DOGGETT). Congress should do. Even those in Con- jobs. It didn’t create a single net job. Mr. DOGGETT. ‘‘Moment of Truth’’ gress who want to raise taxes must Most of us remember when the first is the very appropriately entitled re- question the timing of doing so when President Bush called this type of port of the President’s bipartisan def- credit is scarce, wages are being cut, scheme ‘‘voodoo economics.’’ Do you icit commission, since it took barely a and people are losing their jobs. remember that? Well, this is deja vu moment for him to cut a deal with Sen- As I travel around my district, I hear voodoo economics, and we have no in- ate Republicans that spikes our na- one consistent theme over and over terest in erecting a fiscal monument to tional debt upwards almost a trillion again from small business owners: they the failed policies of George Bush. dollars in new borrowing from the Chi- need certainty. They want certainty— Second, let’s be honest about what nese and others. This deal borrows certainty so they know what Uncle this deal is—a bipartisan deal gone bad. from our future to throw tax money at Sam is going to take from them from It’s a case where both sides handed out problems with the efficiency of most of their bottom lines now and into the fu- candy to their favorite constituencies, its provisions that you would get if ture; certainty so they can plan for and put the candy together in one pile of people stood and shoveled out cash at make future investments—hire work- $858 billion of deficit spending and said, the front door of the Capitol. ers and buy equipment; certainty so We will sober up, just not today. b 2030 they can pursue the American Dream We’ve got to have time to eat our Billionaire estate bonuses, or 1 per- without worrying about how govern- spinach, not just our candy. Stop kick- cent of the people getting a giant tax ment will get in the way. ing this can down the road. True bipar- cut—that doesn’t provide meaningful Opponents of extending all of the in- tisanship will happen when both par- job growth. dividual income tax rates ignore the ties confront fiscal reality and become There is a very good reason we pay fact that more than 4.5 million small responsible. Social Security taxes: in order to share businesses in America pay taxes at the Third, we have to face the music as in the old-age survivor and disability individual rate, not at the corporate to what this deal is. It’s just another insurance that is Social Security. This rate. Failure to extend the current in- case of using an overextended credit proposed Republican payroll tax holi- dividual tax rates is a tax hike on card. We cannot build an economy day is not a day at the beach. It endan- small businesses. based on consumer credit card spend- gers the very fabric of Social Security. My colleagues who want to discuss ing, which is what got us in the hole in That is why the National Committee to comprehensive tax reform should re- the first place. This deal does not edu- Preserve Social Security and Medicare member that extending all of the rates cate one kid; it does not build one has rightfully called this bad deal ‘‘a now will give us the chance to have bridge; it does not lead to the produc- disaster’’ for Social Security. that discussion without adding a mas- tion of one innovative company. It In a very few months, these same Re- sive tax increase on small businesses. doesn’t build America. It just builds publican privatizers of Social Security Avoiding this tax hike is just as im- American debt. will claim, just as they are tonight portant for families across this country So let’s learn from our past. Let’s put about the Bush tax proposal, that we as it is for our small businesses. Mil- away the credit card. Let’s get an un- are raising taxes on workers when we lions of Americans are employed by employment extension the old-fash- seek to end this alleged ‘‘temporary’’ small businesses that will face this tax ioned way. Let’s have more jobs and payroll tax cut. hike; and in many cases, their wages less debt. This same dangerous deal for Social and their jobs hang in the balance of Let’s defeat this bill. Security discriminates against so the decision that we will make here Mr. CAMP. Mr. Chairman, I yield 5 many people, who tonight are on the today. minutes to a distinguished member of front lines with their lives, as our fire- The business world needs certainty the Ways and Means Committee, the fighters, as our law enforcement offi- and families need certainty—certainty gentleman from Louisiana (Mr. cers, as those who educate our chil- to plan for the cost of higher education BOUSTANY). dren—those who provide vital public for their children, certainty to buy Mr. BOUSTANY. I thank the gen- services. They don’t get a dime out of homes that they can call their own, tleman for yielding time to me. this provision. Ninety-five percent of and certainty for the day-to-day task Mr. Chairman, indeed, this is a sad the public employees in Massachusetts of making ends meet in order to pro- state of affairs in which we find our- and a majority of those in the State of vide for the basic needs of their fami- selves and having to deal with this in Texas get absolutely no benefit from lies. Businesses are struggling and fam- the waning days of the 111th Congress. this provision. ilies are hurting. The last thing we In just a mere 16 days, a massive tax This bill undermines a guiding Demo- need government to do is to reach increase—$3.8 trillion—will hit every cratic principle—dignity for seniors— deeper into their pockets and take American taxpayer at a time when we and it undermines 75 years of Social their hard-earned dollars. are dealing with high unemployment, Security. This compromise package isn’t per- very sluggish economic growth, and Mr. CAMP. Mr. Chairman, I yield 3 fect, as has been said over and over— uncertainty about our future. minutes to the gentleman from Wash- compromise rarely is—but perfection American families and businesses ington (Mr. REICHERT). shouldn’t be the barrier to what is have had uncertainty hanging over Mr. REICHERT. I thank the gen- practical and necessary. their heads for months, and we have tleman for yielding. Mr. MCDERMOTT. Mr. Chairman, I known about the date of the expiration Mr. Chairman, I rise to express my yield 2 minutes to the gentleman from of these tax provisions. It is time for support for this bipartisan tax com- Washington (Mr. INSLEE). this Congress to act. It is way past due.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00038 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8559 No one is satisfied. No one in this So let’s clear the slate so that we can Working poor numbering 66,000 and 16,000 body, I’m sure, is satisfied completely start anew in January to get our coun- low income children will lose their health with this bill. I certainly don’t like try back on a competitive basis. I urge care—all they’ll have is the emergency room. provisions in it. We may not like the our colleagues on both sides of the It doesn’t end there—Washington State is situation that we find ourselves in, but aisle to support the passage of this bill. pushing 85,000 elderly off of drug assistance it is this situation that determines our Mr. LEVIN. It is now my privilege to too. duty to act. yield 2 minutes to a member of our This bill undermines Social Security and in- Mr. Chairman, we cannot roll the committee, the distinguished gen- creases taxes on the poor. Republicans won’t dice with the American economy and tleman from Washington (Mr. ever want to restore the so-called temporary with the fate of American families and MCDERMOTT). 2-year cut to social security taxes in this bill. American businesses. That would be (Mr. MCDERMOTT asked and was Republicans will soon be calling the restora- the height of irresponsibility, and we given permission to revise and extend tion of this tax, which keeps social security have seen enough of that in this 111th his remarks.) solvent, a ‘tax hike’. Then Republicans will Mr. MCDERMOTT. Mr. Chair, I rise Congress. Let’s examine just some of bring up privatization as the only way to solve today in opposition to the Senate the provisions in this bill. the shortfall. As a replacement to the Making amendment to the Middle Class Tax If you vote ‘‘yes,’’ you are voting to Work Pay Credit, this tax cut actually in- Relief Act of 2010. creases taxes on the poor, and gives even prevent tax increases on working This bill has good parts to it for the Americans. You are voting to prevent more tax benefits to the rich. poor and the middle class, but it gives This bill creates only stop-gap funding for tax increases on small businesses and away $120 billion to the superrich, $120 job-creating investments. unemployment insurance. Next year at this billion the rich don’t need, and will not time unemployment will still be high, and we’ll If you vote ‘‘no,’’ you are voting for create any jobs. It’s a huge giveaway to a job-killing $3.8 trillion tax increase have another mean-spirited debate that de- the superrich in these tough economic monizes the unemployed. that kicks in on January 1, and it will times. It just boggles the mind. It’s un- be paid for by every taxpayer and most The give-aways and bad policy in this bill conscionable. It’s indefensible. are capped off with the wasteful, environ- small businesses in this country. If you We all know the only reason we’re vote ‘‘no,’’ you are basically voting to mentally disastrous Ethanol subsidy. Sub- even considering this craziness is to sidizing ethanol distorts food markets and allow for the average middle class fam- get Republican votes in the Senate so slows this country’s real progress toward a ily to see $100 pulled out of their pay- they won’t filibuster the bill. That Re- checks every week. That is a lot of sustainable green energy economy. publicans insist on giving away tax- This bill transfers enormous amounts of money for the average family. payer money to the rich while sticking wealth from the average American tax payer If you vote ‘‘yes,’’ you are voting to it to the poor and the unemployed is into the pockets of the wealthiest of this coun- prevent a hike in the death tax on our worse than wrong. It is without con- try at a huge cost. family farmers and small business own- science. These are people’s lives we’re talking about. ers, who take risks and who have built Yesterday, my State of Washington We’re pushing American families off their last announced it will cut all of the work- farms and small businesses—taking life lines during a recession to give tax breaks ing poor health care from the State those risks in a uniquely American to the super rich. That’s the Republican trade basic health plan. 66,000 people and way. off. 16,000 low-income children will lose b 2040 Americans don’t want this give-away. They their health care. All they will have is want us to act with compassion and economic Why do we want to penalize that? Mr. the emergency room. It doesn’t end common sense—and not help start another Chair, now there are some who say on there. Washington State is also cutting Republican economic disaster. our side that we ought to wait. They off 85,000 elderly off their drug assist- We should fix this bill with fair rates for the may think it’s good politics. They may ance program. These are people’s lives wealthy and funding for unemployment insur- think we may have more leverage. we’re talking about, and we’re pushing ance that lasts until the working families of this Well, it’s not all that clear as to what American families off their last life- country are back on their feet. could be gained if we were to wait. But lines during a recession to give tax I urge my colleagues to vote ‘‘no.’’ I will say this, Mr. Chair: It’s inevi- breaks to the rich. That’s the Repub- Mr. CAMP. I yield 5 minutes to a dis- table that there would be delays in en- lican tradeoff. tinguished member of the Ways and acting any kind of a package, and as a Americans don’t want this giveaway. Means Committee, the gentleman from result of the delays, months going by They want us to act with compassion Illinois (Mr. ROSKAM). perhaps, we’ll see a job-killing massive and economic common sense and not Mr. ROSKAM. Mr. Chair, I thank the tax hike on everyone. help start another Republican eco- gentleman for yielding. For those concerned about the def- nomic disaster. The State of Washington is cutting icit, certainly a concern I share, this We could and should fix this bill with the working health care for the work- tax increase will basically hit eco- fair rates, but we won’t because Sen- ing poor? That’s what we heard a nomic growth, hit prosperity in this ator MCCONNELL says, Give me money minute ago. But wasn’t it just an argu- country like a category 5 hurricane. It for the rich. ment just a couple of months ago, Mr. will put us back into a recession, and I urge you to vote against it. Chair, that if this body took up the the prospects to try to correct these Mr. Chair, I rise today in opposition to the ObamaCare that basically the birds problems will be even worse and make Senate Amendment to the Middle Class Tax were going to be chirping and the sun Relief Act of 2010. it much more difficult for us to act in was going to come out and the clouds This bill has good parts to it for the poor the future. were going to part and the economy and middle class, but it gives away $120 bil- Let’s be clear. This is not a pro- lion dollars to the super rich—$120 billion dol- was going to be fabulous and we were growth program as my colleague Mr. lars the rich don’t need and will do nothing to not going to have another health care RYAN said earlier. This is a 2-year create jobs. problem again? But what happened? agreement. It is a first step in cor- A huge give-away to the super-rich in these Running ramrod through this body recting the severe problems that we tough economic times just boggles the mind. ended up a job-killing health care bill, find ourselves in. This will give us time We all know the only reason we’re even and now we’re wringing our hands. It’s to move forward with fundamental tax considering this craziness is to get Repub- amazing to me. reform which, when coupled with licans votes in the Senate so they won’t fili- Back when I was in the Illinois Gen- spending decreases, cutting spending, buster the bill. eral Assembly, Mr. Chair, I used to we can get our country back on a sus- That Republicans insist on giving away tax practice law, and there was one time tainable economic course, a sustain- payer money to the rich while sticking it to the when I filed a motion at a courthouse able path to prosperity, a sustainable poor and unemployed is worse than wrong— and I approached a judge, and he knew path to restore American competitive- it’s without conscience. that I was a legislator. And with a ness and to restore American leader- Just yesterday my own State of Washington twinkle in his eye, he said, Well, Mr. ship at a time when we need to do this announced it will cut all of the working poor ROSKAM, let’s see how you voted on the from a position of economic strength. from the State basic health plan. judicial pay raise, and he kind of

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00039 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8560 CONGRESSIONAL RECORD — HOUSE December 16, 2010 looked underneath his blotter. He was tral. The gentleman has spoken about Mr. CAMP. I yield 2 minutes to the teasing me, and I quickly said, Well, the deficit in the past. I wanted to gentleman from Arizona (Mr. FLAKE). Your Honor, I voted ‘‘no’’ but I hoped know if he wanted to comment on that. Mr. FLAKE. I thank the gentleman ‘‘yes.’’ He thought about that for a sec- Mr. ROSKAM. Reclaiming my time, for yielding. clearly it’s not deficit neutral. Clearly, ond and he said, Motion granted. I don’t have time to detail all that is it does add to the deficit, which is why Now, I hope today there’s a whole lot wrong with this bill, so I will focus on I said that it’s not completely satisfac- of show business going on here, because one very small part of it. It’s the So- tory. So Mr. RYAN, as ranking member I hope today, Mr. Chair, what’s hap- cial Security payroll reduction. I want pening is that there’s a lot of people and incoming chairman of the Budget Committee, has indicated what his in- everybody in this body to remember who say they’re voting ‘‘no’’ that this figure, this one number: $2,136. aren’t really voting ‘‘no.’’ I mean, with tentions are. But, you know, I do find it ironic $2,136—that’s the raise that we’re all due respect to my friend and colleague giving ourselves with this bill. That’s from the State of Illinois who acknowl- that there is this newfound robust in- terest on the other side of the aisle as the raise that we’re giving ourselves, edged that there’s insufficient funds, and we’re borrowing every penny of it he thinks there’s going to be insuffi- it relates to deficit reduction, notwith- standing the CBO’s, OMB’s, and every- from our kids and our grandkids, or cient funds, Mr. Chair, in the 112th probably China. Congress? Hey, look around, 111th Con- body else’s numbers that the national gress, there isn’t sufficient funds. debt will triple in 10 years based on the $2,136. We don’t know where that This Congress and this leadership, current majority. came from. I asked people in this body, Mr. Chair, has doubled our national So I’ve said my piece, but I think it’s How did that provision get in here? It’s debt in 5 years and, based on their own very clear that what we need to avoid, not part of extending current tax rates, numbers, will triple that national debt Mr. Chair, at all costs, is raising taxes keeping the tax rates current. This is in 10 years. So this is not a news flash and putting this economy into a spiral something completely new. We’re told, that’s coming in the 112th Congress. out of which real, real difficulties Oh, somebody in the Senate put that It’s here today. come. in. But nobody has sought to remove it Mr. LEVIN. It is now my pleasure to We had Debt Dependence Day here in here. But keep in mind, again, $2,136. yield 2 minutes to the distinguished the United States on August 4 of this That’s how much every Member of this gentleman from Oregon (Mr. year, which was the date at which body—because all of us make more BLUMENAUER), an active member of our every dime that went out from the than $106,000 a year, so all of us are giv- committee. ing ourselves a $2,136 raise with this Federal Government, Mr. Chair, was Mr. BLUMENAUER. A vote on this borrowed money. So let’s not act as if legislation. We had better remember it agreement may or may not be good because the voters certainly will. this is a new issue. This is not a new politics, but it is wrong. It continues issue. the Washington tradition of ducking As I mentioned, we’re borrowing this Here’s the issue that’s before us: tough issues, making suboptimal money. We don’t have it. We can’t pull We’re looking at a cataclysmic tax in- choices, and trying to make every in- it from another account. There is noth- crease that has the potential to drive terest group happy. ing in the Social Security Trust Fund us and to push us to a tipping point and I’ll be the first to admit that it con- to take it from, so we’re borrowing it, a spiral that goes further and further tains items I support, including some every penny of it. So just remember down. I’ve worked hard to enact, but they’re that number, $2,136. That’s the raise we Now, let me talk to friends on my not worth the price, no matter how are giving ourselves with this legisla- side of the aisle who think a better much I’ve invested in them. tion. I urge a ‘‘no’’ vote. deal is coming. Friends on my side of Mr. LEVIN. I now yield 2 minutes to b 2050 the aisle say, Oh, we’re going to get a the gentleman from New Jersey (Mr. better deal. On January 5, we’ll pass a This should be the time when we PASCRELL), a very distinguished col- bill. On January 6, somehow, miracu- stopped adding to the deficit with league on the Ways and Means Com- lously, the Senate is going to pass it. nothing to show for it but a temporary mittee. boost to pocketbooks with a minimal On January 7, the President is going to Mr. PASCRELL. Mr. Chairman, our boost to the economy and controver- remove all his objections. Even assum- families are hanging by threads—lit- sies that will continue nonstop through ing, Mr. Chair, that that’s true, let’s erally—as we debate this tonight. We the next election. If, like a prudent think that through for a second. know the economic wreckage that oc- family, we must borrow, it should not Okay. So January 7, a new fabulous curred between 2001 and 2008. Double be for current operations but for long- bill is signed into law. It’s not until unemployment, flat wages, and unbri- term investment. The tinkering around mid-February until the Internal Rev- dled greed. We didn’t do a very good job the edges of the tax code and the fixes, enue Service can deal with that. It’s in correcting the problem in the second like the need to continue to ‘‘patch’’ not until mid-March when corporations 2 years since we took over, no question the AMT in order to protect 30 million and payers can deal with it. And so, about it. So these are perilous times. again, at the best case scenario, you’re people, is counterproductive. It will looking at sucking the life out of this cost money to repair the broken tax And I say to my friend from Arizona, economy for 90 days. And what does code, but it is an investment well both sides agree. We need extraor- that do to all of our constituents? That worth the cost. dinary remedies in extraordinary puts us in a downward trajectory that We should, instead, repeal the AMT, times. Ordinarily, your side and our none of us want. Nobody wants that. lower the rates, broaden the base, side would vote against this legislation You know, I think one of the mes- make the code simpler, more fair, and because it’s not paid for. But these are sages of November 2 is that we need to less costly. If we will be $1 trillion not ordinary times. come together and work together. more in debt, we should at least ad- You have said in the past ‘‘no’’ to tax Yeah, there’s things in this bill I don’t dress the infrastructure deficit. That relief that every American, even bil- like. There’s things in this bill that I’m would at least pay for itself with lionaires, could take advantage of, if not pleased with, but I do know that at projects that will last for decades while an extra 2,800 estates don’t get a mas- all costs we need to avoid a job-killing putting hundreds of thousands to work sive tax break at a cost of $60 billion. tax increase. at family wage jobs. We had an agreement on the estate tax. I would be happy to yield to the gen- Make no mistake, this vote means an H.R. 4151 provided a $7 million exemp- tleman from Illinois. exchange for a little temporary relief tion for families, affecting less than Mr. JACKSON of Illinois. I thank the weighted in favor of those who need it 0.02 percent of the country. That gentleman for yielding. the least. This bill means Americans wasn’t good enough. So when the nego- I just wanted to ask the question. I will pay more in debt and interest, a tiations over the next tax relief for was hoping the gentleman might com- sluggish economy, and costs of an un- America’s middle class started, oppo- ment on whether or not his impression fair tax system. It’s a bad bargain for nents saw the chance. They decided to of the bill was that it was deficit neu- the future of America’s families. take the middle class hostage, agree

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00040 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8561 with the tax relief for all of America, ness some short-term certainty so they doesn’t have one, so we, a few years only if 2,800 additional estates worth can go out and invest and hire new ago, along with Brian Baird and a few over $7 million were also provided bil- workers to grow the economy, and it others, were able to get an extension lions more in tax relief. provides Congress with a window to for sales tax and being able to deduct The truth of the matter is that I truly reform the tax code correctly the sales tax. don’t know any working class families without a mad scramble next year to The Acting CHAIR (Mr. SNYDER). The that own estates worth over $7 million. undo the damage. time of the gentlewoman has expired. Maybe you do in your district. No, you When we reconvene in January, it is Mr. CAMP. Mr. Chairman, I yield 2 said to middle class tax relief, if the imperative that the next Congress, led minutes to the gentleman from Florida top bracket is not extended for the top by a new majority, reform our tax code (Mr. BUCHANAN). 2 percent, so as to give $63.2 billion to and the death tax, rein in spending, Mr. BUCHANAN. Mr. Chairman, job 315,000 families making over $1 million and balance our budget. Placing puni- creation is priority number one. Four- a year. tive and oppressive taxes on hard- teen million Americans are striving I ask for your support of this amend- working Americans until Washington every day to find a job. But what they ment. can agree on how best to accomplish fail to understand in Washington, to Mr. CAMP. I yield myself such time all that is not the right way to go get a job, you’ve got to promote small as I may consume. about this. Kansans expect more of business and free enterprise and entre- Let me just say, the gentleman from their representatives in Washington. I preneurship. Arizona who spoke is a cosponsor of urge my colleagues to cast a vote Seventy percent of all the jobs cre- the legislation that would reduce the against tax increases and vote in favor ated in America are created by small payroll tax that would give the so- of this bill. business. In my State of Florida, 99 called pay hike to Members of Con- percent of all businesses registered in b 2100 gress. But let me just say, this payroll Tallahassee, our capital, are either tax deduction applies to every working Mr. LEVIN. Mr. Chairman, it is now small businesses or medium-sized busi- American, just as the rate reductions my privilege to yield 2 minutes to the nesses mainly, a couple of hundred em- apply to every small business in Amer- distinguished Member from the great ployees or less. ica. State of Nevada (Ms. BERKLEY). To raise taxes in this environment, I yield 3 minutes to the gentlewoman Ms. BERKLEY. Mr. Chairman, I rise when many businesses right now are from Kansas (Ms. JENKINS). in favor of this bill. The people in the struggling, on the verge of trying to Ms. JENKINS. I thank the gentleman State of Nevada are having a very stay open—many of them can’t get from Michigan for yielding. tough time right now. We have the credit. If we raise the taxes on small When I ran for Congress, I made a highest unemployment rate in the businesses—and a lot of people don’t pledge to the people of Kansas that I country and the highest mortgage fore- realize, a lot of small businesses are would not vote to raise their taxes. closure rate. The people in my district subchapter S, LLCs, partnerships, sole Today I will honor that pledge and vote are particularly hard hit. One in five proprietorships, so it’s all pass-through for the tax bill before us because a people that I represent have no jobs. income to them personally. But raising ‘‘no’’ vote on this measure is a vote to The unemployment benefit extension taxes on small business, they’re saying raise taxes on every American tax- in this piece of legislation is critical to it will affect 48 percent of the busi- payer, every working parent, every the very survival of so many of the nesses if we don’t pass this today. small businessperson, every retiree, ev- families that I represent. People ask, Why is it that business eryone. While the economy struggles to Everybody thinks of my district of doesn’t have any confidence right now get back on its feet and unemployment Las Vegas and North Las Vegas as a or the confidence they should? remains at nearly 10 percent, allowing very glitzy, shiny, wonderful town, and They just don’t believe what’s hap- liberals to achieve their goal of raising it is all of those things. But it’s a pening in Washington. The administra- taxes on American families and small working class town, and most people tion and this Congress, in their mind, businesses by nearly $4 trillion is ex- don’t fully appreciate that. I represent and they’re right, is very antibusiness. tremely bad economics. construction workers and electricians So if we want to create jobs, the last There are several aspects of this pro- and plumbers, Keno runners and cock- thing we should be doing is raising vision that I am adamantly against, in- tail waitresses and waiters and wait- taxes on small businesses. If we want cluding the massive deficit spending resses and valets and porters. All of to help families and we want to get required to extend unemployment ben- these people are middle-income wage people back to work, we need to pass efits for 13 months that are not paid for earners, and the middle-income tax ex- this bill and do what we can. No tax in- and the onerous 35 percent death tax tension is going to be a tremendous creases come January 1. which will create hardship for many help to these families. Mr. LEVIN. Mr. Chairman, I yield 2 family farms across the entire Mid- The child care tax credit, so many of minutes to the distinguished gen- west. But failure to pass this legisla- the people that I represent in Las tleman from Illinois (Mr. DAVIS), a tion will be the equivalent of reaching Vegas are single mothers who are member of our committee. into the bank account of every middle working. The bane of every single Mr. DAVIS of Illinois. Mr. Chairman, class family and pulling out an addi- mother, and I know this, is good child Justice Oliver Wendell Holmes is cred- tional $5,000 next year. The families I care at an affordable price. The child ited with saying that taxation is the represent in Kansas have had to tight- care tax credit makes a difference price that we pay for a civilized soci- en their belts and can’t figure out why whether these women can go to work ety. And today we need the money. Washington continues to raid their or not. As a matter of fact, I was in a meet- bank accounts and refuses to tighten If you add in the alternative min- ing 2 days ago at CEDA—that’s the or- the belt of the Federal Government. imum tax, 33,000 of the people I rep- ganization in Chicago and Cook County It is truly sad that we have reached resent will be slammed by that if we that services low-income families—try- this point. The current majority could don’t extend it. ing to figure out how to help some of have addressed this issue at any time Marriage penalty tax, earned income my constituents get their homes heat- over the last 2 years, but they were so tax, these are all very important to the ed, because it might be snowing in busy throwing money at solutions in middle-income wage earners that call Washington, but it’s cold in Chicago. need of problems that they didn’t take Las Vegas and Nevada home. The telephone rang. Somebody said, time to build a budget, appropriate One of the most important things is Could you take a call from the Presi- money, or address the issue of taxes, the tax extenders that are included in dent? I said, Which President? They and now our backs are against the this. Nevada is one of eight States that said, Well, the President of the United wall. While this is far from the ideal does not have a State income tax. If States. And I said, Of course, I’ll take permanent extension we desire, a 2- you’re a State income tax State, you it. year extension of all the current tax can deduct your State income tax from I got on the phone and the President rates provided in this bill gives busi- your Federal income tax. Nevada said to me, DANNY, we need to pass this

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00041 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8562 CONGRESSIONAL RECORD — HOUSE December 16, 2010 bill, and we need to pass it because Ms. SCHWARTZ. Mr. Chairman, to- On the other hand, imposing these even though it’s cold, it’s going to get night I rise in support of middle class job-killing tax increases on our small colder; and there are going to be people Americans. As families and the Nation businesses is only going to further who don’t have any unemployment continue to face economic challenges, delay an economic recovery that has compensation benefits, and they can’t we should extend tax cuts for Ameri- been denied to the American people. So pay their heating bill. There are going cans; yet the Republicans insisted that we must act now to prevent this from to be people who want to send their tax cuts apply to all incomes, even happening. kids to college, and without the tax multimillionaires. And they are insist- This bill also has a significant im- credits for college tuition, they won’t ing, even tonight, on including an addi- pact on our Nation’s families. Voting be able to pay the tuition. tional tax break for just 6,600 wealthy against this bill will lead to a nearly And I said, Yeah, but, Mr. President, estates at the expense of tax relief for $100 tax increase on every hardworking what about those people way up at the middle class Americans. American family every single week. top that are getting all of this money? The goals of this tax relief package These are families that are already He said, Well, there might be an op- should be to help middle-income Amer- struggling to make ends meet in tough portunity to reduce that. icans and promote economic growth. economic times, and increasing taxes And I’m looking forward to voting on And because of the President and on them is only going to make matters the Pomeroy amendment so that we Democrats in Congress, most of this worse. can reduce some of that money that bill accomplishes just that. Mr. Chairman, this bill is not perfect. they’re going to keep in their pockets, I commend the pro-growth business Would I like to see these tax rates put it into the Treasury so that we can provisions, particularly the accelera- made permanent? Yes. Would I like to help the poor people in Chicago who tion of business depreciation and ex- are cold and don’t have any heat. see the spending provisions and por- tension of the research and develop- tions paid for? Yes. But well over 80 Mr. CAMP. Mr. Chairman, I yield 2 ment tax credits, which encourage in- minutes to the gentleman from Ne- percent of this bill is tax relief. It pre- novation and investment. And I strong- vents income tax rates from increas- braska (Mr. SMITH). ly support the extension of tax breaks (Mr. SMITH of Nebraska asked and ing; it prevents the alternative tax for middle class families. was given permission to revise and ex- from hitting more middle-income fami- Unfortunately, the Senate Repub- lies; it preserves the child tax credit; tend his remarks.) licans’ last-minute estate tax provision Mr. SMITH of Nebraska. Mr. Chair- and it prevents the marriage penalty does not meet the goal of either eco- man, I rise today in support of the un- from being put in place. nomic growth or tax relief for the mid- derlying tax bill and in opposition to Unless we act, on January 1 we will the Pomeroy amendment that would dle class. It is simply a bonus to the see job-killing taxes. But tonight, and increase the death tax. wealthiest few that is not fair, not jus- today, we will have an opportunity to It is vital we do not stymie any eco- tifiable, and not fiscally responsible. support American families and the Instead, the estate tax proposal that nomic recovery by failing to extend small businesses that employ them. we offer as a substitute saves $25 bil- current tax rates. If we fail to enact Ms. SCHWARTZ. I ask unanimous lion. The House should vote for this this legislation, in just two short consent to control the time until the proposal because it promotes economic weeks, taxes will increase on every gentleman from Michigan returns. growth, extends tax cuts for all Ameri- American. The Acting CHAIR (Mr. DRIEHAUS). Our country needs real economic cans, and provides sensible estate tax The gentlewoman from Pennsylvania is growth, which can’t happen if Wash- relief for 99.75 percent of the Nation’s recognized. small businesses, families, and farms. ington doesn’t prevent these tax in- Ms. SCHWARTZ. I yield 11⁄2 minutes Vote for the tax cuts. Vote for fair creases on farmers, ranchers, and small to Mr. HOLT from New Jersey. estate tax policy. Vote for this legisla- businesses. The sooner we can provide Mr. HOLT. I rise in opposition. certainty to American businesses, the tion, as amended. I am most concerned that this bill Mr. CAMP. Mr. Chairman, I yield 2 sooner they can get our economy back will undermine the very idea of Social minutes to the gentleman from Min- on track and start hiring again. Security by taking money out of Social nesota (Mr. PAULSEN). In particular, I would like to high- Security and promising to make it light the importance of providing cer- b 2110 whole with general revenues. tainty to farmers and ranchers in my Mr. PAULSEN. I thank the gen- When FDR and others created Social district with a lower estate tax rate in- tleman for yielding. Security in 1935, it was a political mas- dexed for inflation. Despite the rhet- Mr. Chairman, our number one pri- ter stroke. Social Security was created oric from some, these folks aren’t mil- ority in Congress should be enacting as an insurance program and has re- lionaires and billionaires. They want to pro-growth policies that will put Amer- mained intact for 75 years because simply leave their children and grand- icans back to work and get our econ- Americans have a real sense of owner- children the land they use to grow and ship for the program. FDR said Social raise food which feeds Americans and omy back on track. Sadly, in the past 2 years, this body others around the world. Security should not use general tax In the last year, the value of Ne- has done very little to accommodate revenues. braska farmland has increased by 9 per- the record high unemployment that This bill puts Social Security on the cent, continuing a trend in which this this country has faced. And this tax table with tax breaks for the top 2 per- land has doubled in value over the past bill before us today will give us an op- cent, with estate tax, alternative min- decade. Without an estate tax exemp- portunity to finally change that, be- imum tax, accelerated depreciation, tion indexed for inflation, these farm- cause in just 2 weeks our country’s making it essentially another bar- ers and ranchers will be forced to di- small businesses will see a huge job- gaining chip. If we allow Social Secu- vide or sell their land, threatening the killing tax increase imposed upon rity to become another bargaining chip very existence of farming traditions them. for dealing politicians, then it will not which, in many cases, have been passed Now, we all know small businesses be long for this world. on for several generations. have been the backbone of our econ- In good economic times and bad, this Grieving families should never be omy for a long period of years. They sense of ownership that Americans will forced to deal with the IRS during a have served as our Nation’s top and get their due from Social Security has time of mourning. The prosperity chief job creators, generating nearly 7 allowed it to survive despite deter- earned by generations of Americans out of every 10 new jobs created. But mined efforts by determined enemies. should not be forfeited just because one according to the National Federation We can find better ways to boost our life has reached its end. of Independent Business, small busi- economy that do not add billions of I urge my colleagues to support the ness optimism is still at a recessionary dollars of debt to pay for tax cuts for underlying bill. level, and only a net 4 percent of firms the privileged few and do not jeop- Mr. LEVIN. Mr. Chairman, I yield 2 are even planning to create new jobs. ardize Social Security. minutes to the distinguished Member Stopping these tax increases on Janu- It is with regret that I rise in opposition to from Pennsylvania (Ms. SCHWARTZ). ary 1 will add jobs to the economy. this legislation. Less than two weeks ago, I

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00042 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8563 joined a majority of this House in passing mid- there are five job-seekers for every job open- Is this bill perfect? No. Few things dle class tax relief that balanced the needs of ing in the U.S. Extending unemployment is the are that come out of Washington. But working families with our Nation’s need to get right thing to do morally and for the economy. the bottom line is that this bill will its fiscal house in order. Unfortunately the The legislation would extend middle class tax allow families to keep more of what Senate failed to pass this bill. relief for two years along with many family- they earn and help small businesses The legislation we are considering today is friendly tax breaks such as the Child Tax grow and invest in themselves. deeply flawed. We should try to put money in Credit, Earned Income Tax Credit, Alternative This is a proven recipe for job cre- the pockets of working families, and I do not Minimum Tax relief, and marriage penalty re- ation. I urge my colleagues to support fault President Obama and many of my col- lief. The bill also would extend expanded this bipartisan legislation so we can leagues who want to get something done on transportation benefits for commuters and tax protect taxpayers and get on to the behalf of the millions of Americans who need credits like the research and development tax tough work of cutting spending next help. But, this is the wrong way to do it. credit to help businesses grow and create year. Yet, at a time when income inequality in the jobs. Mr. LEVIN. I yield 1 minute to the United States has risen to its highest level in Congress needs to provide unemployment gentleman from New York (Mr. TONKO). decades, the bill under consideration would insurance for Americans searching for work, Mr. TONKO. I thank the gentleman shift the burden of funding the Federal govern- extend tax relief for working families, and find for yielding. ment further onto middle-class and working- solutions to our budget crisis. Yet these must This bill is a bad deal for the middle class families. The bill would give away tax not come at the expense of Social Security. It class. If you work hard and play by the breaks to the wealthiest two percent of house- is too important to lose. rules, you should be rewarded; how- holds at a cost of more than $120 billion Mr. CAMP. I yield 3 minutes to the ever, today’s bill ignores this. It lines charged to the national debt. gentleman from New York (Mr. LEE). the pockets of the mega-rich at the ex- I am most concerned, however, that the bill Mr. LEE of New York. Mr. Chairman, pense of everyone else. undermines the very idea of Social Security. I am amazed how my friends across the Our top priority right now should be Social Security has been a pillar of our society aisle now, all of a sudden, have found job creation. We tried the tax cuts pro- for generations. When Franklin Delano Roo- religion when it comes to fiscal issues. posed today for the last decade under sevelt, Frances Perkins, and others created But where were they when we had the the illusion that they would create Social Security in 1935, it was a political $800 billion stimulus? Where were they jobs. And so I ask, Where are the jobs? masterstroke. Social Security was created as with the $1.2 trillion health care bill Where are the jobs? This recession an insurance program and has remained intact that they all promoted? Where were wasn’t an act of nature; it was man- for 75 years because Americans have a real they when the Speaker chose not to made. Shame on us if we do the same sense of ownership for the program. enact a budget resolution this year, the thing again and expect different re- In good economic times and in bad, regard- first time in 36 years? And now they’re sults. less of which political party is in power, this preaching fiscal responsibility when we I will continue to fight to strengthen sense of ownership—that Americans will get are out promoting a bill that is not the middle class, and I will continue to out that which they put into the Social Secu- cutting taxes; it is helping to ensure fight to extend unemployment benefits rity—has allowed it to survive despite the ef- that every American citizen who pays for the millions who are out of work forts of determined enemies. taxes won’t be seeing an increase this through no fault of their own. I have A provision in the bill would reduce an em- year. It is truly, truly amazing. voted in favor of both in recent weeks. ployee’s contribution to Social Security from Simply put, this bill before us today However, we should not support a give- 6.2 percent to 4.2 percent of salary. This could will allow taxpayers to keep more of away to millionaires and billionaires have a beneficial stimulative economic effect. what they earn and will allow small at the expense of future generations. The $112 billion cost to the Social Security businesses, the engines of our economy, Mr. Chairman, this bill needs more trust fund of this payroll tax holiday is sup- to invest in themselves and invest in jobs and less debt. posed to be replaced with money from the jobs. This bill will provide much-need- Mr. CAMP. I yield 2 minutes to the general treasury fund. But that is just the prob- ed certainty that businesses have been gentleman from Louisiana (Mr. lem. In Social Security’s history such a com- screaming for. They are looking to in- SCALISE). mingling of payroll taxes and money from the vest in themselves and truly what they Mr. SCALISE. I thank the gentleman Treasury at this scale is unprecedented. want to do is hire more workers, but: from Michigan for yielding. This is not just about the financial health of tell us what the rules are going to be. Mr. Chairman, there are a number of Social Security, rather it is about Social Secu- Currently, today, businesses are sit- things that have been talked about rity’s rationale that has worked well for gen- ting on close to $2 trillion in cash and here that I think need to be addressed. erations. This bill places Social Security on the liquid assets awaiting to know what One that I want to address point blank table with tax breaks for business expenses the rules are going to be. This bill is is this concept, this myth, that some- and tax breaks for the top two percent of not perfect, but it will help set the how preventing a tax increase adds Americans—essentially making it just another stage for businesses to get some con- money to the deficit. bargaining chip. If we allow Social Security to fidence and certainty in this economy Only in Washington would some lib- become a bargaining chip for dealing politi- and go out and start investing in U.S. eral politician think that allowing cians, then it will not be long for this world. As workers. Congress is long overdue in somebody to keep money in their pock- much as we need economic stimulus now, we providing this certainty to small busi- ets and not have a tax increase some- will need Social security for decades to come. nesses, and it is one of the best ways how adds to the deficit. Rather than taking money from Social Secu- that we can start turning around this In fact, if you really want to see rity, I would support a tax credit—similar to economy. growth in this country, if you really President Obama’s Making Work Pay tax I ran a manufacturing business be- want to see more money coming into credit—that would give working families a fore coming to Congress. I know what the Federal Government, something sizeable tax break with money from general it feels like to look at a production that’s always been proven is having revenues. line and not know if you will be able to lower tax rates coupled with controlled In a message to Congress on January 17, operate it the next month because spending. And that’s the problem, that 1935, FDR insisted that Social Security should Washington is dragging its feet. we don’t have those issues being ad- be self sustaining and that funds for the pay- By acting now, we can also ensure dressed here today. Hopefully, we will ment of insurance benefits should not come that small businesses and family farms address that, and, I know in the new from the process of general taxation. FDR’s aren’t hit with a 55 percent death tax. Republican Congress, we will address message is as correct today as it was 75 We reaffirm our commitment to pro- that we should make these tax rates years ago. viding incentives for manufacturers to permanent, including a complete re- To be sure, the legislation before us today invest in research and development. peal of the death tax, and you’ll see contains many good provisions that I would And we help every American family by some real growth in this country. support on their own. The bill contains a one extending current tax rates, the child But there is a moral imperative here, year extension of emergency unemployment tax credit, and the marriage penalty too. There’s been this talk about class benefits. According to the Labor Department, relief. warfare on this House floor tonight,

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00043 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8564 CONGRESSIONAL RECORD — HOUSE December 16, 2010 and a lot of people running around Mr. GOHMERT. Mr. Chairman, Member of the Ways and Means Com- talking about certain people that there’s not much time when there’s 3 mittee, the gentlewoman from Cali- should have a tax increase. And that is hours and most of that is dedicated to fornia (Ms. LINDA T. SA´ NCHEZ). a moral imperative because who is the pushing this bill. But the fact is, fol- Ms. LINDA T. SA´ NCHEZ of Cali- greedy one here. Is it the single mother lowing up on Social Security tax, it’s fornia. Mr. Chairman, I rise today in who is struggling to make ends meet reduced by 2 percent, from 6.2 percent, strong opposition to this reckless legis- right now? Or is it the liberal Wash- for 2 years, which dramatically does af- lation. There is no question that I ington politician who is trying to sad- fect the solvency of Social Security. strongly support some of the items in dle her with another 50 percent in- When I proposed the payroll tax holi- this bill. Unemployed Americans des- crease in her tax rate if this bill day, I was going to pay for that—it’s in perately need their benefits extended, doesn’t pass? Who is the greedy one? Is the bill—pay for it with TARP. We and I proudly have voted to do so every it the small business owner who is were going to take that money from time I have had the chance. This bill struggling in tough economic times but the Wall Street bailout and give it to also contains tax cuts for hard-working maybe wants to create another 20 jobs the people that actually earned it. American families, tax cuts I voted for in their small business? Or is it the lib- That would have worked. This isn’t 2 weeks ago on this very floor. eral Washington politician that is paid for. But this bill holds these good policies going to try to saddle them with thou- We were elected into the majority to hostage to a giant handout to those sands of dollars in new taxes that will stop the deficit spending. We do need to who need help the least. It is political make it impossible for them to create extend the current tax rates so that we bullying at its very worst, an affront to jobs? That’s the moral imperative. can give some stability to this econ- working American families waged by It’s time for the liberal Washington omy. But two years, analysts say, is Republicans whose irresponsible deci- politicians to get their hands out of the not going to push businessmen to run sions got us into this mess in the first pockets of the taxpayers and hard- out and fix the economy. working Americans in this country so This is a mistake. We can do much place. we can get some real job growth. I am better for the economy. This is no time This bill contains a radical change to glad the gentleman from Michigan, to sell out just to get some extensions. the inheritance tax that will con- when he becomes the chairman of the We can do better. centrate wealth and power in even Ways and Means Committee next year, Mr. LEVIN. Mr. Chairman, I yield 11⁄2 fewer hands than it is now. In a coun- wants to address the long-term prob- minutes to the gentlewoman from try that prides itself on being a lems. But in the short term, we need to Maryland (Ms. EDWARDS). meritocracy, not an aristocracy, such a prevent any American from having Ms. EDWARDS of Maryland. Mr. giveaway is irrational. It completely their taxes raised, and that’s what this Chairman, in 2006, Warren Buffett neuters our ability to invest in people debate is all about. wrote, ‘‘There’s class warfare, but it’s and infrastructure. b 2120 my class, the rich, that’s making war, This bill contains tax breaks for and we’re winning.’’ Today, in this bill, those who will make more than $250,000 Mr. LEVIN. Mr. Chairman, I yield 11⁄2 Mr. Buffett’s sentiment rings as star- a year, breaks that our country can ill- minutes to the gentleman from Massa- tlingly true today as it did 4 years ago. afford when teachers are being laid off chusetts (Mr. LYNCH). and libraries are being closed, when Mr. LYNCH. Mr. Chairman, I thank I rise in strong opposition to this bill those who have been unemployed for the gentleman for yielding. that will benefit only the wealthiest I associate myself with the remarks Americans at the expense of putting the longest are losing their safety net, of the gentleman from Arizona who billions of dollars in debt on the backs and young men and women are still spoke earlier. There is another impor- of our children and grandchildren. being asked to serve and die in Iraq and tant number in this bill, and that num- Over the last 35 years, our tax poli- Afghanistan. ber is $119 billion—$119 billion. You cies have concentrated a third of this The payroll tax cut is another bad might ask why that number is impor- Nation’s wealth in 1 percent of our pop- idea. Not only does it make Social Se- tant. That is the amount of money that ulation, leaving 80 percent of us with 16 curity less secure, many public serv- this bill will rob from the Social Secu- percent of our Nation’s wealth, the ants, including California teachers, rity trust fund if it is implemented, at rest. The proposal on the floor today won’t see any tax cut at all. a time when more and more of our sen- only exacerbates that trend. Overall, this bill adds nearly $1 tril- iors rely on Social Security as their Mr. Chairman, we have staked our lion to the deficit, while doing very, sole source of income, at a time when reputation and the legacy of this 111th very little to create jobs, spur eco- more and more of our seniors are vul- Congress on fighting for working fami- nomic growth, or invest in America’s nerable and are on fixed income and lies. I just don’t understand how we can future. can’t go out and get a second job, at a saddle those same families with Because I am committed to creating time when more American workers are unsustainable tax cuts for the wealthy, jobs, making retirement secure, and in- desperately needing Social Security an estate tax that benefits 6,600 fami- vesting in this country, I cannot in benefits because their defined benefit lies, and a payroll tax that without good conscience support this bill. Com- pensions have gone away, any kind of question raids Social Security. promise is one thing, surrender is an- pensions have gone away. If this is war, then let’s put away this other, and I will not surrender in my In spite of the remarks of the gen- white flag. I refuse to surrender to fight to ensure that America remains tleman from Louisiana who just spoke, those who want to benefit the two- the land of opportunity for all. percenters at the expense of the rest of it is easy to forget that on most of Mr. BRADY of Texas. Mr. Chairman, us. To do that would surrender the these issues, Democrats and Repub- I continue to reserve the balance of my licans agreed. We agreed that 98 per- hopes, the dreams, the retirements, time. cent of Americans needed a tax break and the paychecks of families all Mr. LEVIN. I now yield 1 minute to continued. We are fighting about that 2 across this country. percent. That is where the argument is. It is time to put away the white flag the gentleman from Pennsylvania (Mr. We are arguing about people who have and fight for working families. ALTMIRE). $10 million in an estate. In a windfall Mr. BRADY of Texas. Mr. Chairman, Mr. ALTMIRE. Mr. Chairman, I rise to them, should they pay taxes? may I inquire as to the time remaining in support of this bill because it strikes It is interesting that in this bill, on both sides? the right balance between support for those people have been protected, but The Acting CHAIR. The gentleman the unemployed and those who con- the folks who are on Social Security from Texas controls 35 minutes; the tinue to suffer in the economic down- and the solvency of the Social Security gentleman from Michigan controls 521⁄2 turn, the continuation of pro-American trust fund is fair game. Vote ‘‘no’’ on minutes. and pro-family economic policies, and this measure. Mr. BRADY of Texas. Mr. Chairman, providing the much needed certainty Mr. BRADY of Texas. Mr. Chairman, I reserve the balance of my time. for American job creators to make the I yield 1 minute to the distinguished Mr. LEVIN. Mr. Chairman, I now long-term strategic decisions necessary gentleman from Texas (Mr. GOHMERT). yield 2 minutes to a distinguished to help grow our economy.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00044 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8565 Now is not the time to raise taxes for spur investment. And I know that minimum tax that would begin to hit anyone in America. One of the key fac- every penny that people receive in an individuals making well below $100,000, tors that has stalled our economic re- unemployment check will be spent as and would head off a punishing in- covery is the uncertainty about the soon as possible—because people have crease in the death tax. regulatory environment and tax rates to. And that helps spur the economy as Mr. Chairman, we could try to hold that small businesses will face in the well. And I also hope that the bipar- out and pass a different tax bill. But coming years. With passage of this leg- tisan agreement tonight to do the easy there’s no reason to believe that the islation, we can provide the certainty thing, which is reduce people’s taxes, Senate will pass it or the President these businesses have sought, enabling will be followed by a bipartisan agree- would sign it if this fight spills into them to finally be able to make the ment to do the hard thing—and that’s next year. Meanwhile, Mr. Chairman, long-term strategic and hiring deci- reduce spending in a way that is sen- the uncertainty associated with a pro- sions that they were reluctant to do sible, equitable, fair, and necessary. longed debate would cause grave eco- before they knew what the playing This is not a perfect agreement, but nomic harm and possibly send us back field would look like. it’s a necessary one. into a double-dip recession. I urge my colleagues to support this I urge a ‘‘yes’’ vote. With that, Mr. Chairman, I urge my bipartisan legislation compromise that Mr. BRADY of Texas. Mr. Chairman, colleagues to pass this current legisla- will help kick-start our economy. I yield 4 minutes to the gentleman tion. Mr. BRADY of Texas. Mr. Chairman, from Virginia (Mr. CANTOR) who has Mr. LEVIN. It is now my privilege to I continue to reserve the balance of my been a leader on lowering taxes, fight- yield 2 minutes to the gentlewoman time. ing the expansion of government, and from California (Ms. LEE). Mr. LEVIN. Mr. Chairman, I now expanding liberty. Ms. LEE of California. I want to yield 1 minute to the very distin- Mr. CANTOR. I thank the gentleman thank the gentleman for yielding. guished gentleman from California from Texas. Mr. Chairman, we’re voting on a tax (Mr. SHERMAN). Mr. Chairman, as we contemplate the package that gives away $139 billion in Mr. SHERMAN. Let me first correct tax agreement before us, I urge my col- tax breaks to the wealthiest 2 percent the gentleman from Texas, Mr. leagues to put politics aside and focus of Americans over the next 2 years in GOHMERT, when he says that this bill on the facts. We are crawling out of the exchange for $57 billion in unemploy- would make the Social Security trust worst economic downturn in genera- ment compensation benefits for the fund less solvent. Every penny that the tions. Working families and businesses next 13 months. The math just doesn’t Social Security trust fund doesn’t re- remain gripped by economic uncer- add up. ceive from payroll taxes it gets from tainty, and to this day Washington has Many Members are opposed to this the general fund. only made the problem worse. If we bill because it’s bad economic policy. But let me especially correct him want to cut into the 9.8 percent unem- But it’s also morally wrong. Last Fri- when he says, oh, the other way to pay ployment rate, Mr. Chairman, we have day, the Congressional Black Caucus, for this is by canceling the TARP bill. to instill confidence in the economy led by Congressman BOBBY SCOTT, a We canceled the TARP bill six months, and begin to foster an environment for member of the Budget Committee, pro- seven months ago. He voted against the job creation. Today, we take our first posed a fair deal by eliminating the tax bill, but that bill passed, was enacted, step toward achieving that goal. giveaway to the richest in our country and returned $225 billion to the Treas- This tax deal is not perfect. And and by extending the middle-income ury. Having done that once, we can’t nearly all of us, myself included, dis- tax cuts, unemployment insurance, make money by just doing it again. agree with certain elements of this bill. Temporary Assistance for Needy Fami- The Republican Senators held this But let us not forget what we’re fight- lies, Build America Bonds, affordable country hostage, they held the middle ing for. The reality is, Mr. Chairman, housing provisions, and the earned in- class tax cuts hostage, they held the that on January 1, one of two things is come and child care tax credit. Our American economy hostage. President going to happen to all taxpayers and proposal would also protect Social Se- Obama agreed to pay the ransom. Now most small businesses: Their tax rates curity by offering a tax rebate instead the question before this House is, do we are either going to go up, or they’ll of a payroll tax holiday to ensure that block that ransom payment? stay the same. The choice is to act now Social Security is not cut in the fu- or impose the onset of a $3.8 trillion ture, and it would create the same b 2130 tax increase that will crush the fragile amount of jobs at half the cost. The problem is that if we do not recovery and cost tens of thousands of We should let the Bush tax break for make the ransom payment this month, jobs nationally. This is an indisputable the rich expire. Period. Extending President Obama will be willing to pay fact—and an unacceptable result. them for another 2 years digs us deeper just a little bit more next month. So Mr. Chairman, this tax increase into this deficit hole—and we know today we will do what we have to do. would punish families and small busi- who will end up paying for it. It won’t Mr. BRADY of Texas. I continue to nesses that cannot afford to pay it. be the rich. It will be the poor, low-in- reserve the balance of my time. Middle class families will see their come communities, and communities Mr. LEVIN. I now yield 1 minute to taxes go up by $100 per week. Let me be of color, who lack well-paid lobbyists the very distinguished gentleman from clear. There’s only one path out of this to look out for their interests here on New Jersey (Mr. ANDREWS). economic crisis—and it’s economic Capitol Hill. I am reminded also of (Mr. ANDREWS asked and was given growth. But by transferring vast sums what Dr. Martin Luther King, Jr., permission to revise and extend his re- of cash out of the private sector and called to our attention: ‘‘A bad check marks.) into Washington, Congress would be such as the one being written today Mr. ANDREWS. For many Ameri- taking a club to investment, entrepre- will come back marked ‘insufficient cans, tonight their urgent priority is to neurship, and innovation—the very funds.’ ’’ find a job. It should be our urgent pri- building blocks of what we need to fos- Instead of stuffing the stockings of ority to create those jobs for those ter economic growth and job creation. the super rich, we need to stimulate di- Americans. I support this imperfect About 84 percent of this package, Mr. rect job creation and economic recov- bill because I believe it will help create Chairman, is either tax relief or exten- ery efforts. And we should not leave those jobs. I think a tax cut of $1,000 a sion of current tax rates. So, while not the chronically unemployed, those who year for a family making $50,000 will perfect, this is the kind of action that have exhausted their 99 weeks of unem- help spur spending. I think that not most Americans voted for last Novem- ployment compensation, out of this raising taxes on people who sell real es- ber. deal. They should not be left out in the tate or teach school or drive a school In addition to preserving all mar- cold due to insufficient funds. bus is the right thing to do. ginal tax rates, it would kill the Mak- We should not allow the other side of I think that some degree of tax cer- ing Work Pay credit and replace it the aisle to shove these tax breaks for tainty for business people and inves- with a payroll tax credit for all work- the super rich down our throats in ex- tors over the next 2 years will help to ers. It would deal with the alternative change for middle-income tax breaks.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00045 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8566 CONGRESSIONAL RECORD — HOUSE December 16, 2010 As AFL–CIO President Richard time to get on board. If this bill fails, enacting the AMT patch—extremely Trumka said yesterday in opposition to taxes go up on American savings, in- important to the district I serve and to this bill, ‘‘Working families must not vestments, income, estates, small busi- New Jersey as a whole; and reducing continue to bear the cost of unneces- nesses. We know what is coming. We the Federal estate tax from the sched- sary giveaways to the wealthiest,’’ due know what is awaiting the American uled 55 percent rate on January 1 down to insufficient funds. people. to 35 percent—also extremely impor- CONGRESSIONAL BLACK CAUCUS ALTERNATIVE As it relates to the estate tax, just tant to New Jersey where residential TO THE PRESIDENT’S COMPROMISE think about that one moment. After real estate is so expensive. Members of the Congressional Black Cau- January 1, we know people will die. This bill has been endorsed by lead- cus (CBC) are overwhelmingly opposed to the And if this law is not enacted, this bill ing conservatives, including our new President’s compromise with Republicans on is not enacted, we know what will hap- reform Governor in New Jersey, Chris extending all of the Bush-era tax cuts for pen. Lifetimes of hard work, sacrifice, Christie. It will give us time in the new two years. While we are an ideologically di- and thrift will be punished, and this Congress to enact fundamental reform, verse Caucus, the CBC has reached a con- sensus that we cannot support extending the Federal Government will confiscate including deficit reduction, a perma- Bush-era tax cuts for the wealthiest Ameri- money from people at 55 percent who nent extension of existing tax rates, cans; we can support moving forward on the have less than $5 million in assets. It’s and the elimination of the Federal es- following: terribly unfair to family farms and tate tax. A 13-month extension of Emergency Unem- family businesses. Mr. LEVIN. May I inquire as to how ployment Insurance Benefits plus additional Let’s be clear. If you’re voting ‘‘no,’’ much time is remaining on each side? assistance for the chronically unemployed— you’re voting to raise taxes. Again, if The Acting CHAIR. The gentleman those Americans who have been unable to from Michigan controls 461⁄2 minutes. find work for more than 99 weeks. you’re voting ‘‘no,’’ you’re voting to A payroll tax holiday or equivalent pay- raise taxes by $3.8 trillion. If you’re The gentleman from Texas controls ment, such as a tax rebate check, with guar- voting ‘‘yes,’’ you’re voting to stop a 281⁄2 minutes. antees that Social Security will not be de- $3.8 trillion tax increase. This is the Mr. LEVIN. It is now my real privi- prived of revenue. vote that counts. The political games lege to yield 1 minute to the distin- Targeted tax relief through a 2-year exten- are over. No more posturing. The train guished gentleman from Virginia (Mr. sion of the Bush-era tax cuts for hard- is pulling out of the station. It’s time SCOTT). working middle- and low-income families Mr. SCOTT of Virginia. Thank you, and extending the enhanced provisions in- to get on board. Vote ‘‘yes.’’ Stop the cluded in the American Recovery and Rein- tax increase. Mr. Chairman. I rise in opposition to the bill be- vestment Act for the Earned Income Tax b 2140 Credit, the Child Tax Credit, and the Amer- cause its passage will make it impos- ican Opportunity Tax Credit. Mr. LEVIN. It is now my privilege to sible to ever balance the Federal budg- The CBC proposal will cost less than half yield 1 minute to the gentlewoman et. of the President’s proposed trillion dollar from Wisconsin (Ms. MOORE). This compromise will add about $900 compromise. Ms. MOORE of Wisconsin. Thank billion to the national debt. That’s Members of the Congressional Black Cau- you, Mr. Chairman. more than TARP. That’s more than the cus are keenly aware of the day-to-day Tonight, by extending the Bush-era struggles of hardworking American families stimulus package. The 2-year cost of and the unemployed. In the long-run, we be- tax cuts, the greedy will prevail, and the bill is about the same as the 10- lieve permanently extending the Bush-era the needy will fail to receive des- year cost of the health care reform bill. tax cuts will add trillions of dollars to our perately needed social services going At least we paid for that. national debt thus jeopardizing the fiscal forward. Even the so-called middle We need to make tough, unpopular solvency of the United States Government. class Bush-era tax cuts will deliver six choices to balance the budget. Obvi- This nation has difficult decisions to make times the benefit to the wealthy than ously, letting tax cuts expire would be in the years ahead and the CBC believes that to ordinary hardworking families. unpopular. But when we ever decide to vital programs, such as public education How many times do we have to hear funding, financial aid for students to go to get serious about the deficit, we will college, child nutrition programs, Veterans Republicans boldly declare, We will find that the alternatives are even benefits, Social Security and Medicare, will starve the beast and deny the least so- more unpopular because, after today’s all be put at risk if we permanently extend cial welfare? vote, the choices will necessarily in- all of the Bush-era tax cuts. We believe the Frankly, this $1 trillion tax cutting clude cuts in Social Security, Medi- benefits of these vital programs to all Amer- and Social Security gutting feeds right care, education, and other popular pro- icans, especially to middle- and low-income into the 75-year Republican sentiment grams. Americans, far outweigh any tax cut. to eliminate entitlements: $1 trillion If we don’t have the political will to It will take strong political will to make the tough choices necessary to bring our fis- debt and goodbye Social Security net. end the disastrous Bush-era tax cuts cal house in order. One such choice the Cau- Lure them with short-term gain and now, we certainly won’t have that po- cus made was to consider and reject support usher in long-term pain. litical will during the middle of a Pres- for the proposed reduction in the estate tax, Colleagues, beware. Tonight begins idential election. The job creation in which has a two year price tag of $60 billion the undermining of Social Security and this bill is paltry—$400,000 a job. We and only benefits the wealthiest 2% of Amer- Medicare. can do better than that. ican families. Rejecting that choice is par- Mr. BRADY of Texas. I am proud to Accordingly, Mr. Chairman, I urge ticularly timely in light of the recent defeat yield 2 minutes to the distinguished my colleagues to make the tough of a $250 payment to struggling Social Secu- gentleman from New Jersey (Mr. rity recipients who are going another year choice and defeat this bill. without a Cost-of-Living-Adjustment. As we LANCE). Mr. BRADY of Texas. I reserve the move ahead on ways to accelerate our eco- Mr. LANCE. Thank you very much. balance of my time. nomic recovery and balance our budget, the Mr. Chairman, I rise in support of the Mr. LEVIN. Mr. Chairman, it is now CBC stands ready to assist the President in underlying bill that ensures that taxes my privilege to yield 2 minutes to a a meaningful and responsible way. will rise on no one in America on New very active member of our committee, Mr. BRADY of Texas. I yield 2 min- Year’s Day, 15 days from now. What a the gentleman from California (Mr. utes to the gentleman from Pennsyl- terrible New Year’s present that would BECERRA). vania (Mr. DENT). be to the American people. Mr. BECERRA. I thank the gen- Mr. DENT. I do rise in support of this This bill creates greater certainty in tleman for yielding. legislation. Obviously, it’s not a per- the business community so that busi- For more than 200 years, America has fect bill, but it is a good bill. And we nesses across America can create the worked hard to earn a reputation have heard all the policy and political jobs this country so desperately needs, around the world that, when the going arguments against this bill. Let me especially given our current 9.8 unem- gets tough, America gets going. just be very clear. It’s really time to ployment rate. New jobs will lower our We could lead in tough times. We stop this $3.8 trillion tax increase that annual deficits. Almost 85 percent of could withstand adversity. We were awaits the American people. It’s time this bill provides tax relief, including prepared to sacrifice. Then, as our to take ‘‘yes’’ for an answer. It’s really preventing the job-killing tax hikes; country matured, we were prepared,

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00046 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8567 not only to do all those tough things, doing nothing is not a very good op- as people buy goods made in China and, but to do them the right way, and we tion. of course, the $112 billion taken out of were able to somehow figure out where For far too long in this town, short- Social Security. And the Republicans the sweet spot was for prosperity in sighted partisanship has prevailed have made it painfully clear tonight America—building the middle class: against the long-term best interests of that the temporary cut in Social Secu- the GI Bill for our troops, Social Secu- our country. We need more bipartisan- rity income is not temporary. They’ve rity and Medicare for our seniors, the ship in Washington, D.C., to tackle our said it time and time and time again. best universities for our kids. As we in- Nation’s most pressing problems. There is no such thing as a temporary vested in the middle class, our pros- I commend the President for getting tax cut. perity bloomed. us beyond the partisan stalemate and I hope the White House is listening. Fast-forward to the Bush recession for laying the groundwork for eco- They’re about to spring the trap, and and to the tough times we find our- nomic progress for the American peo- next year, they will say, Mr. President, selves in today. Americans are hanging ple. you’re going to raise taxes on every tough, fighting to hold onto their jobs There are many provisions in this working American by making Social and their homes. But is everyone in bill that are going to help working Security whole. You can’t do that. Oh, America sharing in the sacrifice? This families. I strongly support the middle and by the way, we’re tired of sub- proposal gives millionaires $139,000 in class tax cuts, or at least to keep them sidizing that program with money tax breaks each year. On top of that, it going, in this bill. Child tax credits, we’re borrowing. gives the 6,600 wealthiest Americans a marriage penalty relief, and education That is a horrible, horrible step for tax break equal to $23 billion. incentives will help middle class fami- this Congress to take. Perhaps the most sinister provision lies make ends meet and invest for a Mr. BRADY of Texas. Yielding my- in this proposal is the more than $100 brighter, more secure economic future. self 30 seconds, I would point out, our Most urgently, Congress needs to billion that it diverts from the Social Democrat friends have run the first pass the extension of unemployment Security trust fund and then borrows and second highest deficits in Amer- benefits contained in this legislation. money from places like China to re- ican history the last 2 years. They have In my home State of North Carolina, place those dollars. raised taxes this session $625 billion, Everyone in America is ready to sac- thousands of workers have lost their and guess how much went to reduce the rifice. Everyone in America should be jobs in the recession caused by the mis- deficit? Not one dime. In fact, all that ready to sacrifice. This bill doesn’t ask guided policies of the previous adminis- money was sent in twice. No one seri- all Americans to sacrifice. The day tration. I have met with many, many ously believes Democrats will use tax should come, as the days have come, of these people and have looked them increases to lower the debt, but to ex- pand and grow this government. when all of us are prepared to sacrifice. in the eyes as they have told me their I reserve the balance of my time. This is not the bill. This is not the stories. These are good people who have worked hard and who have played Mr. LEVIN. It is now my pleasure to time to change America’s history. Let yield 1 minute to the gentleman from us all work together, to pull together, by the rules. They are depending on these unemployment benefits to get Florida (Mr. DEUTCH). to let everyone in the world know that Mr. DEUTCH. Mr. Chairman, I rise we are prepared to sacrifice. America’s them through these tough times until the economy picks back up and creates with deep concerns over the temporary wealthy are ready to sacrifice as all payroll tax cut included in the package Americans who are trying to hold onto good jobs. We are here the week before Christmas, and the last thing we before us tonight, not because we their jobs and their homes are prepared shouldn’t provide relief to the middle to sacrifice. should do is cut off their lifeline. I will vote to pass this bill, and I urge class. We must, tonight. Cutting Social Let’s do this together. We have that my colleagues to join me in doing so. Security contributions could have last- reputation. We know how to do it. Ad- Mr. BRADY of Texas. I continue to ing consequences, however, for our Na- versity doesn’t concern us. We will do reserve the balance of my time. tion’s most successful domestic pro- it the right way. Let us pull together. Mr. LEVIN. It is now my pleasure to gram. We can do much better than this bill. yield 11⁄2 minutes to the distinguished In a year, in this very Chamber, It is our chance to prove it to America. gentleman from Oregon (Mr. DEFAZIO). many of our colleagues across the aisle Mr. BRADY of Texas. I continue to Mr. DEFAZIO. I thank the gen- will likely work to make this tax holi- reserve the balance of my time. tleman. day permanent, just as they are to- Mr. LEVIN. I now yield 2 minutes to What we are about to do here today night for the Bush tax cuts. Jeopard- another active, distinguished member is extraordinary, and the impact will izing Social Security’s independent of the Ways and Means Committee, the be felt by our kids and grandkids for revenue stream will open retirement gentleman from North Carolina (Mr. the next 30 years. With one vote, we benefits to budgetary attacks for the ETHERIDGE). are going to increase the already pro- first time and pave the way for at- (Mr. ETHERIDGE asked and was jected record deficit for this year of tempts to privatize Social Security. given permission to revise and extend $1.3 trillion to $1.7 trillion. We could give middle class Ameri- his remarks.) cans tax relief without threatening So- b 2150 Mr. ETHERIDGE. I thank the gen- cial Security in this way. The unfortu- tleman for yielding. Every penny of income forgone here nate truth is we will not accomplish Mr. Chairman, let me state that tonight will be borrowed, much of it that here tonight, even as we do pro- there is much in this bill that concerns from China and some of it from our So- vide struggling working families and me. cial Security trust fund, for the first jobless Americans with a lifeline that Specifically at a time when our budg- time in our history. For what? For con- they desperately need. et deficits and national debt continue tinuing the failed economic policies of But we must commit ourselves to- to hold back our economic growth, we the last 9 years? We’ve got these tax night to the fight that lies ahead. We should not be passing bonus tax breaks cuts in place today. How many jobs are must be ready to protect Social Secu- for the wealthiest few in this country they creating? But you tell me we rity and defend our seniors and work- and handing the bill to our children can’t afford to invest, we can’t rebuild ing Americans from the attacks that and our grandchildren. I also strongly our Nation’s crumbling infrastructure, are sure to come. prefer the House-passed language that we don’t have the money to do that. Mr. BRADY of Texas. I continue to provides estate tax relief in a respon- We know we can create real jobs there. reserve the balance of my time. sible manner. Additionally, I worry We can increase the productivity of our Mr. LEVIN. It is now my real pleas- that the payroll tax provisions, while Nation. We can compete better world- ure to yield 11⁄2 minutes to the distin- good for working families in the short wide if we invest in our infrastructure guished gentleman from California run, could undermine the finances of and our education system and our peo- (Mr. GARAMENDI). Social Security over the long run. ple. (Mr. GARAMENDI asked and was But, at a time when so many people But no, we’re going to have debt-fi- given permission to revise and extend face uncertainty in a fragile economy, nanced, consumption-driven recovery his remarks.)

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00047 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8568 CONGRESSIONAL RECORD — HOUSE December 16, 2010 Mr. GARAMENDI. Etched on the By holding assistance for the unem- that is going to irresponsibly expand the al- stones in the FDR Memorial are his ployed hostage and giving tax breaks ready large deficit. I have spoken to and heard words that are applicable tonight. He to the billionaires, tax breaks actually from many fine, patriotic, hardworking middle said: The test of our progress is not that create absolutely no jobs, we will income Americans from Houston, from the whether we add more to the abundance create a big hole, a big hole in all of great State of Texas, and all across the na- of those who have much; it is whether the support that we need for our chil- tion. Middle class American families and small we provide enough for those who have dren, for women, for veterans, for our businesses are deeply concerned about our little. President Roosevelt. education and health programs, and troubled economy, the skyrocketing national On December 2, the Democrats in that only names a few, Mr. Chairman. deficit, high unemployment rates, job creation, this House honored those words. We Rather than tax breaks for the and sorely needed extension of the tax relief passed a middle class tax cut, and we wealthy, we need policies that create and unemployment benefits set to expire at passed unemployment insurance, and jobs, jobs that will help our working the end of this month. The American people we provided for those who have little. families. are asking the President and Members of Tonight, because of the ransom that’s Mr. Chairman, I urge my colleagues Congress to move swiftly and take decisive been demanded by our Republican col- to oppose this flawed tax package be- action to help restore our economy in a fiscally leagues, we’re left with a different op- cause it will yield only one thing, and responsible manner. I am disappointed that tion. We’re left with the option of pro- that is insufficient funds for any of the Republicans have insisted on holding unem- viding abundance to those who already social programs we need in our coun- ployment benefits and tax cuts for working and have much, $130 billion, every dollar try. middle class families’ hostage in order to ben- borrowed probably from China. Is that Mr. CAMP. I continue to reserve the efit the wealthiest 2% of Americans. fiscally responsible? I think not. balance of my time. I also have some serious concerns that the And furthermore, President Roo- Mr. BECERRA. I yield 1 minute to temporary payroll tax cut included in this legis- sevelt, we are, in this bill, about to de- the gentlelady from Texas (Ms. JACK- lation could jeopardize Social Security. Al- stroy your greatest heritage, the So- SON LEE). though this is a temporary tax cut, there will cial Security system. The Republicans (Ms. JACKSON LEE of Texas asked inevitably be debate in the future about ex- are opening the door to the destruction and was given permission to revise and tending it before its expiration, which could of the Social Security system and extend her remarks.) create substantial shortfalls in Social Secu- thereby carrying out their 74-year Ms. JACKSON LEE of Texas. Mr. rity’s long term viability. Future extensions of task. Chairman, I ask that we send this bill this payroll tax at the expense of Social Secu- It cannot happen. We provided an al- back to the drawing board, work with rity could force hard-earned retirement bene- ternative and we must not let that the President, so that we can really fits to compete with other government pro- happen. I urge a ‘‘no’’ vote. help the unemployed, the 99ers, and not grams for funding rather than remaining self- Mr. CAMP. I continue to reserve the just grow the deficit. Where are the sufficient. Tax cuts must be instituted without balance of my time. good Samaritans? compromising Social Security. Mr. LEVIN. It is my pleasure to yield We have voted over and over for tax I would like to thank President Obama for 1 minute to the active Member from cuts. I believe in them. The House his determined leadership, support and com- Mississippi (Mr. TAYLOR). mitment to protecting important tax relief Mr. TAYLOR. Our country is going voted for tax cuts 2 weeks ago, but this tax bill is a budget buster and just issues for middle-income Americans and the bankrupt. On May 9, 2001, Mr. CAMP, nation’s small businesses and farmers during our Nation was $5.643 trillion in debt growing the deficit, the same deficit that we’re going to be called upon to do these challenging economic times. I would with a 4.3 unemployment rate. Guys also like to thank all the Members and their like you came to the floor and said something about. I want America to thrive. So they staff who worked diligently to bring this essen- let’s pass the Bush tax cuts. They did. tial legislation to the House floor today in an I didn’t vote for it. Eight years later cannot be giving tax cuts to billion- aires who do not want them. We cannot attempt to do all that we can to protect the when the President left office, our debt American people and move this nation toward had increased by $4,983,609,000,000, and cut into the Social Security, costing us $120 billion and impacting firefighters, fiscally responsible economic recovery. the unemployment rate had gone up to I support those provisions of H.R. 4853 as 7.7 percent. teachers, and police who do not get a benefit from the payroll tax holiday. I amended by Senate Amendment 4753 that The argument that somehow these provide necessary tax relief to struggling mid- tax cuts are going to magically put want middle class tax cuts, but I want the Republicans to stop holding us hos- dle income Americans. Under the Tax Relief, people to work is bunk. Since the Bush Unemployment Insurance Reauthorization and tax cuts, we are now $8,204,749,000,000 tage for hardworking Americans to get a dime from this country. They work Job Creation Act, Senate Amendment 4753, deeper in debt, and the unemployment middle-class families and small businesses will rate is a shocking 9.8 percent. How hard. I offered an amendment to ensure see their taxes go down. This measure con- much is enough? How much debt is tains job-creating tax incentives, including in- enough? How many more bills are we that the corporations that are getting the tax cuts really do save a job or hire centives to create clean energy jobs, energy- going to stick on my kids and my efficient homes, and investments in renewable the people who are unemployed. With grandkids so that you and others can energy. It also ensures that millions of Ameri- billions being spent and trillions in the get reelected? cans still looking for work continue to have ac- deficit, it is time now to work for mid- It is time to draw the line, Mr. CAMP. cess to an emergency safety net to afford dle class Americans. I do believe in a balanced budget, and I basic necessities, without extending the Mr. Chair, I have deep reservations with would beg my colleagues, I would beg amount of time these benefits can be claimed portions of this bill, especially as it relates to my colleagues, to defeat this measure. for any given household. ANNOUNCEMENT BY THE ACTING CHAIR the estate tax and tax cuts for the wealthiest The specific ways that this bill will benefit The Acting CHAIR (Mr. SCHIFF). 2% of Americans. Nevertheless, I do support middle-class families and aid the economic re- Members should direct their remarks portions of H.R. 4853, to extend vital tax cuts covery include the following: to the Chair. for America’s middle and working class and It preserves the current income tax rate for Mr. CAMP. I continue to reserve the extending unemployment insurance benefits middle-class families (2 years). balance of my time. that will otherwise expire at the end of this It reauthorizes the current emergency unem- Mr. BECERRA. I yield 1 minute to month. I have consistently supported and ployment insurance program (13 months, or the gentlewoman from California (Ms. voted for middle class tax cuts, as I did two through the end of 2011). WOOLSEY). weeks ago when I voted for the Middle Class It continues vital middle-class tax credits, in- Ms. WOOLSEY. Mr. Chairman, I Tax Relief Act of 2010, and the extension of cluding the American Opportunity Tax Credit strongly oppose this so-called tax com- unemployment benefits. to help families pay for college, the Child Tax promise because it represents a wind- I am deeply saddened that the fate of un- Credit, and the Earned Income Tax Credit fall for the wealthy, a windfall that employed, low and middle income Americans (two years). will result in one thing and one thing has been held hostage by the insistence by It helps businesses by allowing them to de- only: insufficient funds for all other so- Republicans that this legislation include a duct 100 percent of certain investments in cial programs. giveaway to the wealthiest 2% of Americans 2011 and 50 percent in 2012.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00048 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8569 It extends the state and local sales tax de- vide extension of unemployment benefits for money, and let’s start cutting spending duction, which is particularly important for those unfortunate unemployed Americans who and be responsible with the money that states, like Texas, which have no state income have run up against a brick wall. These so- they have entrusted us with. tax (2 years). called ‘‘99ers’’ have been sincerely looking for Should we increase taxes to bring It extends Alternative Minimum Tax relief work for a very long time and have run out of more money into the government so through 2011 (2 years). resources to provide for their families and pay that we can pay for the spending that’s I have already voted for all of the above their mortgages, pay their bills and buy food. happened over the last several years? I benefits. They simply want and need a job to pay for say no. The message we need to be Unlike those provisions of H.R. 4853 which these obligations. H.R. 4853 proposes to give sending to the citizens of our great Na- benefit America’s struggling middle class, I do tax cuts to the wealthiest Americans, yet fails tion is this, that we get it. We are not not support the provisions of this legislation to provide for the so-called ‘‘99ers.’’ going to live beyond our means and ask which condition that desperately needed relief you to foot the bill. We are going to 2200 upon the unconscionably high cost of pro- b cut spending, eliminate waste, and re- viding an unnecessary, expensive giveaway to Mr. BECERRA. I yield 1 minute to duce our national debt responsibly. Let the wealthiest Americans by providing a two- the gentleman from Connecticut (Mr. Americans keep their money and see year extension of Bush-era tax cuts for the MURPHY). what happens to the economy. Let wealthiest 2% of Americans while lowering Mr. MURPHY of Connecticut. Mr. Americans keep their money and see their estate tax rate to 35% on estates valued Chairman, my constituents are willing what happens to the unemployment at more than $5 million for individuals and to support this Congress borrowing rate. Let Americans keep their money more than $10 million for couples. These give- money, but only if all of that effort is because it’s the responsible thing to do. aways to the wealthiest Americans during targeted at creating jobs. This bill fails Mr. BECERRA. I yield 1 minute to these dire economic times needlessly add bil- that test. We’re going to borrow almost the gentleman from Oregon (Mr. WU). lions of dollars to our skyrocketing deficit yet $900 billion under this bill in order to Mr. WU. Mr. Chairman, I rise in create no value for our ailing economy since give $140,000 in tax cuts to somebody strong opposition to the Obama tax these tax cuts are not tied to job creation and that makes $1 million. We’re going to bill. preservation. reduce the estate tax so that only 3,500 I strongly support middle class tax I offered an amendment that would require families in the entire country pay it cuts. I strongly support extending un- all large businesses and corporations who re- next year. employment benefits to Oregon fami- ceived a tax benefit under this legislation to Tax cuts for billionaires don’t create lies who are still struggling to find report how their tax savings are being used to jobs. Sure, there are important provi- jobs. However, this bill is not balanced. create or save jobs. Tax cuts for America’s sions in this bill that do help the most The bill extends tax cuts for million- largest corporations must be tied to job cre- needy, like extending tax cuts to the aires and billionaires for 2 years. Yet unemployment insurance is extended ation or preservation, which is why I offered middle class and unemployment bene- for only 1 year. Why are we providing my amendment. Failing to tie tax cuts to job fits to those that are out of work. But tax cuts to the very wealthy while lit- creation is irresponsible since it exacerbates these benefits are going to be greatly erally leaving unemployed Americans our growing deficit without bolstering job cre- outweighed by the crushing debt that those same families will have to carry out in the cold? ation. Further, this bill is fiscally irrespon- I would like to add my support for the and the cuts to education and to health sible and, as a result, bad for jobs and Amendment to H.R. 4853 introduced by my care and to Social Security that will bad for our economy. The bill costs colleague, Mr. POMEROY of North Dakota. This inevitably be passed in order to finance over $800 billion over the next 10 years. amendment would strike Title III of the Senate those same tax cuts. The bond markets are already reacting amendment to H.R. 4583 and amend the bill My constituents want a bill that is to this, interest rates are going up, and to provide two years of estate tax relief at 100 percent focused on jobs. Unfortu- this will squelch what anemic job 2009 levels. In calendar years 2011 and 2012, nately in this bill, 20 percent of the growth we do have. money goes to almost only 1 percent of the estate tax exemption amount would be We should defeat this bill, restore Americans. It’s not a deal to create $3.5 million ($7 million total for a married cou- fairness and balance between those who jobs. It’s not a deal that we can afford. ple) and the maximum tax rate on estates have the most and those who have the Mr. CAMP. I yield 2 minutes to the would be 45%. Additionally, the amendment least, and cut the cost in length of this distinguished gentleman from Indiana would provide estates from decedents in 2010 tax giveaway to millionaires so that (Mr. STUTZMAN). with the ability to elect to be treated under the interest rates rise less and job growth Mr. STUTZMAN. Mr. Chairman, to- 2009 levels or to be treated under current law can continue. Please defeat this legis- night we find ourselves faced with a for tax purposes. This election will allow es- lation. tates to receive a step up in basis on inherited very important decision with regard to Mr. CAMP. I continue to reserve the property rather than the 2010 carryover basis what sort of taxes we face in the com- balance of my time. rules. The exemption level and rate are con- ing years. We are not simply voting on Mr. YARMUTH. Mr. Chairman, I ask sistent with the estate tax proposal included in whether to ‘‘keep tax cuts.’’ We are unanimous consent to control the time the President’s FY2010 and FY2011 budgets. voting on whether or not we ‘‘raise until the gentleman from Michigan re- While I am opposed to the portions of H.R. taxes.’’ To let our current tax law ex- turns. 4853 that amount to an expensive giveaway to pire is to raise taxes on Americans. The Acting CHAIR. The gentleman the wealthiest 2% of Americans, I want to em- Some say that the tax cuts will cost from Kentucky is recognized. phasize that I fully support President Obama’s the government $700 billion. Well, I say Mr. YARMUTH. I yield myself 2 min- vision for change. I share his commitment to that allowing the current tax cuts to utes. fighting for low and middle-income Americans expire will cost taxpayers $700 billion. Mr. Chairman, when families around who are the backbone of this country and our Who needs that money the most, our the country try to deal with their economy. However, this legislation, especially government or the people? If this bill budgetary issues and there are limited as it pertains to tax cuts for the top 2% of fails and taxes go up in the middle of a resources available, what they do is, Americans and estate tax provisions that are very fragile economy, we risk any po- they say, Well, we may have to borrow regressive and inflate the deficit, does not tential job growth and recovery from money; but if we’re borrowing money, comport with this vision. I have serious mis- this great recession. Refusing to take we’re going to borrow it for survival— givings about extending tax cuts for the more of taxpayers’ money is not spend- meaning necessities—or we’re going to wealthiest Americans at the expense of our ing we wish we could afford. Taking borrow it to make an investment that deficit, especially if these tax cuts are not tar- taxpayers’ money is spending the tax- will pay off over time. geted towards job creation. payer cannot afford. There are many things in this pack- I strongly support the tax and unemploy- Mr. Chairman, I contend that we can- age that represent those two standards. ment insurance relief that H.R. 4853 provides not punish taxpayers with a massive Unemployment benefits represent ne- to middle-income families, small businesses tax increase to pay for the massive cessities. Those are things our citizens and farmers. But, my friends, I must express spending problem in Washington. Let’s need to survive for them and their fam- my concern that this legislation does not pro- let Americans keep more of their ilies, and there are business tax credits

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00049 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8570 CONGRESSIONAL RECORD — HOUSE December 16, 2010 in these bills that represent invest- Social Security, with the payroll tax only hear it now when we’re talking ments that will create jobs and stimu- without putting any fundamental re- about letting the American people late economic activity. All of those are form on the table. And what I would keep what they earn. good things. say to my friends on the other side of We’re not even talking about a tax On the other hand, there are expendi- the aisle, It is you who brought that to cut here. We’re talking about pre- tures in this bill that don’t meet either the table. venting a tax increase. So I don’t quite of those standards. These are the ex- Mr. Chairman, I made a pledge to my understand all of a sudden this great penditures that give over $100 billion to constituents. I told them I would fight angst and concern about the deficit. the wealthiest citizens in this country, any tax increases. I told them I would And I might remind all of my col- the ones whose net worth has dramati- try to bring certainty to this economy leagues, it is the deficit which is the cally increased over the last decade, because that is what businesses need. symptom. It is spending which is the who now, 1 percent of this country, Trillions of dollars sitting on the side- disease. We can clearly get rid of the control a vast majority of the wealth lines, waiting to come into this econ- deficit tonight. Let’s increase taxes 60 of this country. They have done ex- omy; but yet the party who has been in percent, 60 percent on all Americans. tremely well. To give them more control of Congress for 4 years, had the Let’s more than double taxes on our money when we’re borrowing it is not White House for 2 years waits until al- children and destroy the American the kind of priority we need to set. It most Christmas Eve, and we still don’t Dream. Sure, we can balance the budg- does not represent an investment in know what tax rates are. There’s no et. That doesn’t take care of the fiscal jobs or in stimulative activity, and it certainty. insanity. does not represent necessities. These And so to avoid a further job melt- b 2210 are bonuses to people who don’t need down—and let me make it very clear, them. The only thing I am certain of is that Mr. Chairman, this is not any great There are lots of good things in this if we don’t pass this legislation, there’s economic growth package that is put bill. Unfortunately, the price for get- about to be a $3.9 trillion tax increase before us. I don’t believe that this is ting them is much too high. This is on the American people, on school going to be the cornucopia of jobs. like going to the hospital when you’re teachers, on farmers, on single moth- What we’re trying to do here is avoid very sick, and the doctor says, You ers, on small businesses, on job cre- further damage to a crippled economy know, I’m going to give you $250,000 of ators, and, yes, even the vilified that, again, has almost double-digit care that’s going to be really effective wealthy. unemployment on a serial basis. I wish for you. It’s going to make you well. Mr. Chairman, we’ve heard the class we had at least 10 years of certainty of Unfortunately, you’re going to have to warfare rhetoric for quite some time these tax rates. I’m sorry it’s only two. eat $100,000 worth of candy which will now; and look what it’s got us, almost I would say to my friends on this side do nothing for you. This is the price serial double digit unemployment and of the aisle who say, well, we could that we are being asked to pay by Re- human suffering. have gotten a better deal: well, I don’t publicans in the Senate for the many Mr. Chairman, I’ve held a lot of jobs know. I wasn’t in the room. I didn’t ne- good things in this bill. Always, gov- in my life. I used to bus tables at the gotiate the deal. Maybe their crystal ernment is about choices. Governing is Holiday Inn in College Station, Texas. ball is clearer than my crystal ball. always about choices and priorities. I used to work on a loading dock and Here’s what I see in my crystal ball. This is the wrong set of priorities for load windows. I used to clean out I’m absolutely for certain in my crys- this country. chicken houses, which to some extent tal ball that come January, Barack Mr. CAMP. I yield 4 minutes to the was sufficient training for the present Obama is still going to be President of distinguished gentleman from Texas occupation, but that’s a subject for a the United States. In my crystal ball, (Mr. HENSARLING). different time. HARRY REID is still going to be Senate Mr. HENSARLING. I thank the gen- But, you know what, Mr. Chairman? majority leader. tleman for yielding. In all these jobs I’ve held, no poor per- The Acting CHAIR. The time of the And, Mr. Chairman, I had not origi- son ever hired me. It was somebody gentleman has again expired. nally thought I would come here to who went out and risked capital and Mr. CAMP. I yield the gentleman an speak. I must admit, I have been took a chance and built something. additional 30 seconds. watching the debate in my office and And yet the left and my colleagues on Mr. HENSARLING. That’s what I see have some amount of envy for my col- the other side of the aisle want to in my crystal ball. So maybe the leagues who bring such passion and vilify this person, that somehow it’s friends on my side of the aisle, maybe certainty of their vote as they come to bad to go out and be successful and cre- you’re right. But you have a degree of the floor. ate jobs so that people can put roofs certainty and clarity of the future I do As I look at this legislation and lis- over their heads, put food on their not have. So, personally, I’m not will- ten to my colleagues, I must admit I table, send their kids to college. I don’t ing to take the chance. consider it to be a very successful ne- get it. I’m going to cast the ‘‘aye’’ vote. I’m gotiation because I am not sure I have Now, my friends on the other side of going to stop the job-killing tax in- heard anybody who really likes the the aisle say well, this will add to the creases. I’m going to add at least a bill. Perhaps that’s a hallmark of a deficit. Well, why didn’t I hear that ar- modicum of certainty, 2 years of cer- successful negotiation. As I look at the gument during the $1.2 trillion failed tainty to the Tax Code. And I’m going legislation, it is the classic challenge stimulus? I didn’t hear the great angst to fight to put this Nation back on the of, Is the glass half full or is it half and anxiety from my friends on the road to fiscal sanity because, in this empty? I, for one, have decided it to be other side of the aisle at that point legislation, I see the glass half full. half full. when we passed an almost $400 billion Mr. LEVIN. It is now my privilege to Mr. Chairman, clearly there are omnibus spending bill. I really didn’t yield 1 minute to the very distin- items in this legislation that I find not hear it. guished Member from California (Ms. just empty but, frankly, atrocious. The Acting CHAIR. The time of the ESHOO). Yes, there is tax pork in this legisla- gentleman has expired. Ms. ESHOO. Mr. Chairman, I’m deep- tion. There is an unpaid-for extension Mr. CAMP. I yield the gentleman an ly disappointed in the recently nego- of unemployment benefits. Mr. Chair- additional 2 minutes. tiated tax deal by the White House. man, at some point, I would hope the Mr. HENSARLING. I didn’t, Mr. While one can find items that are po- majority—soon to be minority in this Chairman, hear this angst and anxiety litically and practically attractive, in institution—would realize that we have when my friends on the other side of its totality, it borrows just shy of $1 got to concentrate on the paychecks. the aisle not only brought us the first trillion to pay for, amongst other Americans want paychecks, not unem- trillion dollar deficit in America’s his- items, expiring tax breaks for the top 2 ployment checks. And if we’re going to tory, but backed it up with the second percent of our country. My fear is that have them, they need to be paid for. trillion dollar deficit in American his- the 2001–2003 Bush tax cuts will become And worst of all, what’s happening to tory. I didn’t hear all this concern. I permanent, and our fiscal future will

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00050 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8571 dim as America struggles with the action on January 1 when the exemp- Bush tax cuts, and it didn’t work. It largest transfer of wealth and debt cre- tion would go to 1 million and the rate has been mentioned over and over ation in its history. We should, instead, would go to 55 percent. In fact, if en- again. It built up these deficits, includ- be investing in capital formation, tech- acted, this amendment would represent ing the wars in Iraq and Afghanistan nological innovation, job creation, and the lowest estate tax in 77 years up that you supported so well, and has education. These are the real building through 2009. created this deficit that threatened our blocks for a strong future for all Amer- Mr. Chairman, we have to level with country to make us look like a future icans. the American people. We’ve got to Ireland, a future Portugal, countries I’m also deeply, deeply concerned start somewhere bringing down the that are in great deficit, problems that about borrowing from the general fund deficits. And if we can’t settle on the we are putting our country and our fu- to cover Social Security payroll taxes. estate tax exemptions and rates that ture into. We don’t need to be insane This is the first time in the history of were in place in 2009, which, as I say, and try to do this over again. I feel like Social Security that the firewall be- were the lowest, the lowest in 77 years, it’s a return to Christmas Past. tween the general fund and Social Se- if we can’t do that and, instead, we’re And there’s a book in the New Testa- curity is being taken down. This is going to say to the very wealthiest es- ment that says: From those who are dangerous. It’s a bad precedent and one tates, heck, we’re going to give you $23 given much, much is expected. But in I believe we will all regret. billion over the next 2 years to benefit this Congress, from those who have Mr. CAMP. Mr. Chairman, I reserve just 6,600 estates, how can we look the much, we are expecting little, we get the balance of my time. American people in the eye and say little from it, and we are giving them Mr. LEVIN. It is now my privilege to we’re serious? the biggest tax breaks of all. And to the people who die and are the richest yield 3 minutes to a member of our b 2220 committee, the gentleman from Mary- in our Nation, the Steinbrenners who land (Mr. VAN HOLLEN), who has been Mr. Chairman, I hope when this died with $1.1 billion, we will be giving working day and night on this issue. amendment comes up later today we them this year a $450 million free ride Mr. VAN HOLLEN. Mr. Chairman, I can make this deal one that truly bene- and, with the differences in the taxes of am pleased to have worked with Con- fits all the interests of all the people in 35 or 45 percent, $100 million. This is gressman POMEROY and Chairman this great country. wrong, and that’s why I’m opposed to Mr. CAMP. I continue to reserve the LEVIN and others on the amendment the bill. that we’re going to be voting on later balance of my time. Mr. CAMP. I yield 5 minutes to a dis- Mr. LEVIN. I yield 1 minute to the tonight. tinguished member of the Ways and While this House recently passed, and gentleman from California (Mr. FARR). Means Committee, the gentleman from Mr. FARR. I thank the gentleman for Democrats have been fighting, to en- Ohio (Mr. TIBERI). yielding. Mr. TIBERI. Mr. Chairman, what an sure that tax rates do not go up on 98 Wake up and listen to the sirens, the percent of the American people, Senate honor and privilege it is to be a Mem- sirens of the election that were about ber of this House, and what an amaze- Republicans made it clear that they the deficit in America, and you want to will raise, that they will raise taxes on ment it is to me to hear this debate add $1 trillion to that deficit. Wake up that I have heard so much in the past. every American if they don’t get a spe- and listen to the sirens of the people cial bonus tax break for the very top 2 The road to prosperity is not through who are needing of help. tax increases. The road to prosperity in percent. I can’t believe that you talk about In order to break that stalemate, America is not through class warfare. this bill as fiscal sanity. It’s fiscal in- My mother and father came to an President Obama concluded he needed sanity, putting us in another trillion America, a United States of America, to cut a deal. What this amendment we dollars of debt, and with this concept for a better life, for an opportunity— will be voting on later tonight does is of, if you give the rich more money, it not a guarantee, an opportunity, for give the American people a better deal. will trickle down. their kids to be successful, for their Specifically, it asks all of us to con- Well, those sirens that are respond- kids to do well and pay taxes and do sider this question: In an era of $1 tril- ing to the children that are in need of well for their kids. lion deficits, with our national debt ap- health care, to the people who need to When you’re voting on a bill tonight proaching $14 trillion, barely 2 weeks be rescued, aren’t paid for by trickle- that extends current tax rates, the cur- after the bipartisan fiscal commis- down economics. The rich never pay for rent Tax Code that represents, Mr. sion’s ‘‘Moment of Truth’’ report, that. There isn’t an ambulance in the Chairman, three-quarters of this bill, should we really be borrowing $23 bil- country that’s paid for by the rich. that represents three-quarters of the, lion from China to give the wealthiest There isn’t a soldier that’s paid for by quote, spending in this bill, and Mem- 6,600 estates an average tax break of the rich. There isn’t a schoolteacher in bers of this body say we have to borrow $1.7 million a year? a public school paid for by the rich. to allow people to keep the money that Think about it: $23 billion for the That doesn’t happen. they earned, where have we come? wealthiest 6,600 estates a year, at a Your putting our country into debt is My father was a steelworker who time of fiscal challenge, in a Nation of what Admiral Mullen said is the big- loved John F. Kennedy, who proposed over 300 million people, without any gest issue in national security. It’s similar types of tax increases. My benefit for job creation or economic what the debt commission said we mother was a seamstress. Neither grad- growth. couldn’t do. There’s nothing in this bill uated from high school. They don’t be- Mr. Chairman, much of the deal ne- that’s fiscal sanity. It’s insanity. We lieve in class warfare. gotiated by the White House is defen- fixed this debt by closing these tax Do they support all of this bill? Cer- sible. But I would say to my col- loopholes, and now you want to give tainly not. Do I? Certainly not. But the leagues, if we can’t agree now that now them away. Shame on you. question now, Mr. Chairman, is: Do we is not the time to be giving the top ANNOUNCEMENT BY THE ACTING CHAIR allow, on January 1, the largest tax in- three-tenths of 1 percent a multi-mil- The Acting CHAIR. Members are re- crease in American history? That’s the lion dollar tax break, we’re clearly not minded to direct their remarks to the question. serious about bringing down the def- Chair. I didn’t negotiate this bill. If I were icit. Mr. CAMP. I reserve the balance of king, I would have certainly negotiated There’s another way, and that’s in my time. it differently. Only in Washington, the amendment we will be voting on Mr. LEVIN. I am privileged to yield 1 D.C., can people keep what they have later today. We can adopt the amend- minute to the gentleman from Ten- today and not pay more taxes does it ment. It will provide a $3.5 million ex- nessee (Mr. COHEN). cost the government money. emption and 45 percent maximum rate. Mr. COHEN. The definition of insan- Think about the farmer who is sick, That’s identical, identical to the rates ity is doing the same thing over again who is trying to plan his estate. And and exemptions that were in effect in and expecting a different result. would I support permanency in the es- 2009 and significantly better than the To my friends on the Republican tate tax? Absolutely. And let’s elimi- rates that will take place if we take no side, we did this 10 years ago with the nate it. But if this bill doesn’t pass, a

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00051 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8572 CONGRESSIONAL RECORD — HOUSE December 16, 2010 $1 million exemption occurs for that find it appropriate to give our seniors the economic ladder to the bottom, but sick farmer trying to plan his estate. on a fixed income a little bit more especially those at the bottom. Will he have to sell his land, Mr. Chair- breathing room by sending them a $250 This is basically a 24-month stimulus man? check to allow them to pay their bills bill, by getting money to those who How about the single mom with two and afford their medicine? need it most, who will put it in the jobs trying to provide for her two kids? The government’s calculation tells us marketplace the quickest, which will Her taxes will go up. How about the that the cost of living has not in- help us create jobs. Seventy percent of teacher and the police officer raising a creased over the last 2 years, but sen- this entire $853 billion package will go family? The marriage penalty. How iors in my district and most of our own to the low income and the middle in- about the small business owner who districts have done their own calcula- come. There is no other way to put it. pulled me aside on Wednesday and said: tions. The cost of electricity, gas, and And when you talk about rates, we I can’t even plan my business. I’d like health care have risen dramatically. dare not go home here today having to hire somebody. And you folks in I hope to support a bill that will ben- raised taxes on the American people. Washington have known for how long efit most of my constituents, but this We have got to cut the taxes, keep that these tax rates were going to go bill does not. Hopefully, we will see them down. up? amendments that will make it better. Ladies and gentlemen, you have to Last year, the majority party had 60 realize that at the lowest economic b 2230 votes in the Senate, had a clear major- ladder, the lowest tax rate is 10 per- ity in the House. You could have Mr. CAMP. I reserve the balance of cent. If we don’t move, those people at passed something. And here we are, 15 my time. the bottom that we care about, espe- days before Christmas, and the Grinch Mr. LEVIN. Mr. Chairman, I yield 1 cially us on the Democratic side, their is about ready to steal it for so many minute to the gentleman from Colo- taxes will go up 50 percent. Americans who will see their taxes go rado (Mr. POLIS). We’ve got to move this bill in the up, Mr. Chairman, if this bill isn’t Mr. POLIS. Mr. Chairman, there are best interests of the American people. passed. a lot of people that believe the Demo- Mr. CAMP. I continue to reserve the Now, there are a lot of things in this crats stand for a lot of mainstream balance of my time. bill that I don’t like. But the question American values: keeping our air and Mr. LEVIN. Mr. Chairman, I yield 1 today, Mr. Chairman, is: Do we let the water clean so we can breathe and minute to the distinguished gentleman perfect be the enemy of the good? drink freely, improving our public from Wisconsin (Mr. KAGEN). I could sit up here and pick apart schools, our live-and-let-live policies. Mr. KAGEN. Mr. Chairman, tonight, pieces of this legislation. But when But somewhere in the back of a lot of well-meaning Members of Congress three-fourths of this is the current Tax Americans’ minds, they are worried have been debating who will pay to Code, three-fourths of this allows for that the Democrats are going to raise clean up the mess left behind by Presi- the current rates to continue so taxes taxes. dent Bush’s failed economic policies, don’t go up on millions and millions of Well, I am proud to say tonight that policies that included two tax cuts to Americans, Mr. Chairman, it really thanks to the leadership of President the richest Americans at the very same comes down to this simple logic: Barack Obama, we are going to deliver we were prosecuting two wars. We cannot tax our way to prosperity. one of the largest tax cuts in history. But we all know this: there is no free We cannot tax our way to fiscal respon- Here is a $20 bill, Mr. Chairman. For lunch. And yet the Senate is asking the sibility. We must pass this bill and give every $20 that an American family House of Representatives to designate 2 years for this Congress, this Presi- earns, that earns $40,000 a year, $60,000 this bill as an emergency for purposes dent, this Senate to come up with a a year, they are going to get an extra of pay-as-you-go, thereby failing to better way, a more simple way to tax dollar, an extra dollar for every 20 they live within our means and driving our Americans; allow them to keep more of earn this year. And, yes, there is children deeper into debt. their money; provide for a way for cap- money that is going to go to people The Senate also seeks to fix this ital to work in America’s favor and earning $1 million. They might get 60 emergency by immediately turning allow America to be more competitive or 70 cents for every $20 they earn, and, over $129 billion of money we don’t again, with a Tax Code that makes yes, we would have rather used that have to the very wealthiest Americans, sense. money to reduce the deficit. wrongly thinking that the Republican- But the question today is: Do we But let me tell you, Mr. Chairman, inspired idea of trickle-down econom- allow taxes to go up, or do we allow mainstream America, that extra dollar ics will work today when it failed mis- Americans to have some certainty for will help keep people in their homes. In erably in the recent past. the next 2 years? addition to that extra dollar, Mr. Well, responsibility must begin some- Mr. LEVIN. I yield 1 minute to the Chairman, every American that gets a where. Let it begin here with me. The gentleman from Texas (Mr. GENE paycheck will get a 2 percent raise this reality is there is no emergency that GREEN). year, thanks to the leadership of Presi- justifies handing out tax cuts to mil- Mr. GENE GREEN of Texas. Mr. dent Barack Obama. Two percent right lionaires and billionaires at this time. Chairman, I thank the chair of the off the payroll tax, every paycheck. I Instead, we should bring our children committee for allowing me to speak. know a lot of companies have frozen home from wars overseas, and, after I support maintaining the estate tax their employees’ salaries. Federal em- paying for these wars, then determine at the exemption of $3.5 million. That’s ployees had their salaries frozen. if we have any money left over for tax not what is in this legislation. And I Well, thanks to the leadership of cuts to millionaires and billionaires. believe in the value of hard work and President Barack Obama, the citizens America cannot afford tax cuts for rewarding those who are able to suc- of our country can rest assured they the rich. We don’t have the money. ceed, but I know some perceive the es- will not get a tax increase. They do. tate tax as undermining these values. Mr. CAMP. I continue to reserve the Mr. CAMP. I continue to reserve the However, we know that Americans balance of my time. balance of my time. with multimillion-dollar estates are Mr. LEVIN. Mr. Chairman, I yield 1 Mr. LEVIN. I now yield 2 minutes to not the only hard workers in our Na- minute to the gentleman from Georgia the very distinguished gentleman from tion. We have millions of Social Secu- (Mr. SCOTT), a member of the Financial New York (Mr. WEINER). rity recipients who have worked their Services Committee. Mr. WEINER. I thank the gentleman. entire lives but have seen their benefits Mr. SCOTT of Georgia. Ladies and You know, it doesn’t take a great decline due to no cost of living adjust- gentlemen of the Congress, the time is deal of courage to come to the floor of ment for 2 straight years now. now for us to ask the one fundamental the House and say I’m in favor of low What message do we send our Social question before us: What is in the best taxes. Yes, I think we all want no Security recipients that we are giving interests of the American people at taxes. We would all like to have no 6,600 families a tax break on the aver- this time? By ‘‘American people,’’ I communal needs that we have. We age of $1.5 million each, but we can’t mean every American, from the top of would like to have no national defense.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00052 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8573 We would like to have no concerns ious ledge. Shame on the leadership of have now added this estate tax provi- about clean water. the past 2 years who put us into this sion—and, mind you, the Democratic What we hear of the fight about in boxed corner. side of the ledger benefits 155 million elections and, frankly, every single day Good policy cannot be handcuffed by Americans. In order for the President on the floor is, Who do we stand for? this sort of last minute political gue- to get those terms accepted, the Re- Who are we defending? rilla warfare. The process which publicans insisted that $23 billion in On this side of the Chamber we be- brought us to this point is inexcusable, benefits go to the 6,600 wealthiest fami- lieve that those people in the middle so much so that the average middle lies in America. 6,600 families holding class and those struggling to make it, class family in my district will pay up tax cuts for 155 million Americans. who each and every year for the past more than $1,500 in increased taxes if Is that fair? Does that meet any test of two decades have been getting pushed we fail to act. fairness that we have? Again, this $23 further and further down, need help. Our economic recovery in upstate billion not creating jobs, this $23 bil- On the other side of this Chamber are New York continues to lag. Preventing lion increasing the deficit by 8 percent people who quite literally stood up all the pending income and estate tax in the fiscal year. day today to say, I want to give tax hikes that will hit every family and Think of what we could do with that cuts to people who make $1 million and business in my district is paramount at $23 billion. We could triple our research $1 billion a year; and, wait for it, ladies this time. But once this bill is passed, in cancer and diabetes. I think that and gentleman, we want to borrow the we must begin in the next Congress to means something to all Americans, in- money from the Chinese to give it to eradicate out-of-control spending. We cluding those 6,600 wealthiest families. them. cannot be put into this position again. We could give a $7,000 raise to every I want the wealthy to be as wealthy Mr. LEVIN. Mr. Chairman, it is now public school teacher in America. We as they can be. I have no grudge my privilege to yield 1 minute to the could create, investing in new tech- nology, 780,000 jobs—780,000 jobs. In- against that. I want all of us to be that Speaker of the House, the gentlewoman stead, we’re giving a bonanza to 6,600 of wealthy. But we should be a country from California (Ms. PELOSI). the wealthiest people in America who that fights for those who really need Ms. PELOSI. Mr. Chairman, I thank really don’t need the help. the help. We should not be a country the gentleman for yielding, and I thank It’s just amazing to hear our col- that says: You know what? If you’re a him for his leadership on fairness for leagues on the other side of the aisle billionaire, we want to give you a little growing the economy, for reducing the talk about deficit reduction when ev- bit more. deficit and for creating jobs, because erything on their side of the ledger in- Who’s going to pay the bill? Who is that is some of what is done in this creases the deficit and does not create ultimately going to pay for this tax bill. jobs. Tax cuts to the wealthiest 2 per- cut? It is going to be our children and I think I want to use my time to cent; the most egregious of all, the es- our grandchildren. And to come to the make some distinctions here. President tate tax provision that they have that floor and say, well, I want to help hard- Obama and the Democrats have sup- benefits not 1 percent, not one-half of 1 working Americans, I have to tell you, ported initiatives to protect the middle percent, but one-quarter of 1 percent of when the top 1 percent in this country class. We are fighting for the middle the American people. We have to bor- are making as much as the next 25 per- class. We are wanting to grow the econ- row that money from China and send cent, I think I know who we want to omy and to create jobs and reduce the the bill to our children and our grand- help. deficit, so we must subject whatever children. And that is not good policy. On this side, we want to help those legislation that comes before us as to It does not have a favorable impact on middle class people and those strug- how it meets those tests. the deficit. It does not create jobs. It gling to make it, and my Republican This legislation on the Democratic does not grow our economy. It does not friends all over this evening have been side of the ledger does create jobs and stimulate growth in our country. standing up for millionaires and bil- the demand that creating jobs injects And so I hope that our colleagues lionaires. That is the fundamental into the economy helps reduce the def- will vote favorably for the Pomeroy choice that we have to make here. icit. For example, unemployment in- amendment to bring some fairness and I believe that this tax bill has funda- surance provisions that are in the leg- clarity to the estate tax issue. On that, mental flaws. If you believe that you islation economists across the board 99.7 percent of all Americans are ex- should be borrowing from Social Secu- tell us return more money to the econ- empted. 99.7 percent of all Americans rity to pay for a payroll tax, you like omy than almost any initiative you are exempted from paying estate tax this bill. But I know a lot of Americans can name. People spend that money under Pomeroy. But we had to get that don’t believe that. quickly. These are people who are upper 3 percent in this legislation in So I think what we should do, what looking for work, people who have lost order to benefit 155 million Americans. we should do is make sure that we fix their jobs through no fault of their These figures have to be engraved in the estate portion of this, and then we own. Their unemployment insurance is our being—155 million. You can’t have should take a step back and say, you spent immediately, again injecting de- that unless 6,600. I’ve said it over and know what we should do? Let’s stand mand into the economy, creating jobs. over. up for the middle class. That is what Low income tax credit, refundable. And then, on top of all of that, on the the Democrats stand for. b 2240 Democratic side of the ledger we have Mr. CAMP. I yield 11⁄2 minutes to the the green initiative, 1603, that the Sen- distinguished gentleman from New Child tax credit; refundable. All of ate put in the bill. This is just a very York (Mr. REED). this placed in the hands of the working positive provision for renewable en- Mr. REED. Mr. Chairman, let me families in America, again, spent im- ergy—wind, solar, et cetera. But the first note that this whole situation is mediately, injecting demand, creating Republicans said, That’s the limit. We an example of what is wrong with jobs. The college tuition tax credit, won’t accept any more. And so all of Washington. As a new Member, I think very important for America’s working the initiatives for innovation that have we have to stop continuously putting families and their children. been passed the past few years that off difficult decisions until we are So here we are with a bill on one side should have been extended, we said forced to make a decision in crisis of the ledger that benefits 155 million ‘‘no’’ to innovation, we said ‘‘no’’ to mode as the clock clicks to zero hour. Americans. We have tax cuts for the the future, we said ‘‘no’’ to keeping This vote has profound ramifications middle class across the board. Every- America number one for encouraging for every American, and now we are body gets that tax cut. But in order for our competitiveness. backed into a corner where the current the middle class to get that tax cut, So if we’re talking about growth, we tax rates expire on all taxpayers if we the Republicans insist that those who have to talk about investments in the do nothing. make the top 2 percent in our country future. If we’re talking about being It didn’t need to be this way. Shame get an extra tax cut, adding billions of number one, we have to have an inno- on the politicians whose inaction over dollars to the deficit and not creating vation agenda to do it. The Repub- the decade forced us onto this precar- any jobs. To add insult to injury, they licans said ‘‘no’’ to that. They only

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00053 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8574 CONGRESSIONAL RECORD — HOUSE December 16, 2010 said ‘‘yes’’ to tax cuts to the wealthi- competition, mind you, in this bill— to the wealthiest people in this coun- est. the most egregious provision when it try. I refuse to support a bill that As Mr. WEINER said, we recognize comes to fairness, reducing the deficit, would balloon the deficit by $23 billion success. We admire success. We all and not creating jobs. to provide an average tax break of want to be part of it. God bless them I, again, commend the chairman of more than $1.5 million to only 6,600 for having the wealth that they have, the Ways and Means Committee and all families a year. whether it is inherited or earned. We of our colleagues who have had to ex- That is why I am voting ‘‘no,’’ and I recognize success and what wealth does plain through all of the misrepresenta- urge you to do the same. to create jobs, et cetera. But we also tions that have been made about what Americans spoke clearly on November 2. want to reward work. We want to re- this legislation is about. And, again, I Congress must get serious about reducing the ward work. So in order to reward work salute President Obama for getting in deficit and become better stewards of their tax in this legislation, we had to have a big the bill what is in there. I’m sorry at dollars. After endless talk throughout this ses- payoff to the top one-quarter percent the price that has to be paid by our sion about fiscal responsibility, the looming of America’s wealthiest families. children and grandchildren to the Chi- threat of a growing deficit and forcing Amer- So for my colleagues, as they review nese government to pay for the in- ica’s next generation into crushing debt to this, this is very difficult. Nobody crease in the deficit that the Repub- China—a so-called tax deal has been pro- wants taxes to go up for the great mid- licans insisted upon. duced. Today, this House will vote on a bill dle class. In fact, everybody gets a tax Mr. CAMP. I yield myself such time that will explode the deficit by $858 billion dol- cut in this. We just don’t see why we as I may consume. lars. have to give an extra tax cut to the The majority party has had large bi- While this package includes several pro- wealthiest and then an extra, extra es- partisan majorities in the Senate and grams I have proudly supported, I cannot sup- tate tax benefit to the top one-quarter the House and controlled the White port the underlying bill. As recently as last percent. House for the last 2 years. And as we week, I voted to give every American a tax cut As Members have to make up their know, in the House, the majority can by making the middle-class tax cuts perma- mind about this, I hope that they will pretty much do what they want, as was nent for the millions of American families, con- vote for the Pomeroy amendment to demonstrated with the trillion-dollar sumers and small business owners who drive this legislation. They’ll have to make stimulus bill, as was demonstrated our economy. I have consistently voted to ex- their own decisions as to whether it is with ObamaCare. tend unemployment insurance to assist the necessary to be held hostage, to pay a families struggling in this difficult recession. I 2250 king’s ransom, in order to help the b have voted to extend the Earned Income Tax middle class. We absolutely cannot There is some explaining to do. Credit and Child Tax Credit to assist our Na- allow taxes to go up come January 1. Why wasn’t this issue dealt with be- tion’s low-income families who have a difficult The previous speaker said we have to fore the election? Why didn’t the ma- enough time making ends meet as it is. I have look to how we were forced to this pre- jority bring a bill to the floor before consistently voted for ethanol and biodiesel carious ledge. Yes, let us look to how the election? tax credits that sustain the growth of our Na- we were forced to this precarious ledge. Now, as Americans face these tax in- tion’s renewable energy industry and support This situation, the recession that we creases, here we are just a few short the jobs of thousands of my constituents in were in—the deep recession that we days before the end of the year, and Iowa. were in—President Obama was a job now, because there is a bipartisan com- Those were some of the good things in- creator from day one with the Recov- promise, which incidentally passed the cluded in this deal. Unfortunately, the merits of ery Act and pulled us back from that Senate 81–19, I think there is a recogni- these good things do not outweigh the bad recession. The financial crisis that tion that this is just no time to be things in this deal. I cannot justify mortgaging they created, President Obama pulled playing games with our economy. The our children’s futures to provide a Christmas us back from that. And, oh, by the way, failure to block these tax increases bonanza to the privileged few. I refuse to sup- remember the financial crisis? Remem- would be a direct hit to families and port increasing the deficit by at least $81 bil- lion to provide a tax break to the wealthiest ber the banks that all that money went small businesses and employers, and it persons in this country. I refuse to support a to and they didn’t extend credit? Now would further delay our economic re- bill that would balloon the deficit by $23 billion those same people are giving out over covery. to provide an average tax break of more than $100 billion in Christmas bonuses. And For those reasons, I support this bill. $1.5 million to only 6,600 families a year. And these Republicans in this House of Rep- I reserve the balance of my time. I unequivocally refuse to threaten the long- resentatives are saying, We don’t want Mr. LEVIN. It is now my privilege to term viability of social security with a shell you to be taxed to the proper extent on yield 1 minute to the distinguished game to pay for diminished social security that $100 billion. More money given in gentleman from Iowa (Mr. BRALEY). Mr. BRALEY of Iowa. Mr. Chairman, contributions. bonuses on Wall Street. Think of it. I’m voting ‘‘no’’ on this bad deal because we today, the House will vote on a bill Over $100 billion dollars. And we want cannot keep kicking the can down the road that will explode the deficit by $858 bil- to give them a free ride in terms of when it comes to difficult decisions about the lion. While this package includes sev- paying their fair share. deficit, especially with a package that threat- So if it comes to creating jobs, grow- eral programs I have proudly sup- ens the financial stability of our Nation. I urge ing the economy, reducing the deficit, ported, I cannot support the underlying my colleagues to join me in voting ‘‘no.’’ investing in growth and competitive- bill. Mr. CAMP. I reserve the balance of ness and innovation to keep America As recently as last week, I voted to my time. number one, I applaud President give every American a tax cut by mak- Mr. LEVIN. Mr. Chairman, I now Obama for his side of the ledger. I’m ing the middle class tax cuts perma- yield 1 minute to the gentlewoman sorry that the price that has to be paid nent for the millions of American fami- from Illinois (Ms. SCHAKOWSKY). for it is so high. At a time when every- lies, consumers, and small business Ms. SCHAKOWSKY. The Speaker was body is preaching the gospel of deficit owners who drive our economy. I have talking about how the Republicans reduction, the Republicans come in consistently voted to extend unemploy- held hostage 150 million Americans in with an increase in the deficit to the ment insurance to assist the families favor of 6,600 families who will get this tune of over $100 billion dollars for peo- struggling in this difficult time. inflated break on their estate taxes. ple in our country who need it the least Those were some of the good things Who are those families? and, again, where it does not create included in this deal. Unfortunately, The Koch Family: the primary jobs. the merits of these good things do not funders of the tea party movement and So Members will have to make up outweigh the bad things in this deal. I other conservative causes, having a their minds as to how we go forward on cannot justify mortgaging our chil- vast fortune estimated to be as much the bill. But I hope that all of them in dren’s futures to provide a Christmas as $35 billion. Under the Republican, their consideration of it will vote for bonanza to the privileged few. I refuse versus the Pomeroy amendment, that the Pomeroy amendment, which ad- to support increasing the deficit by at family would realize over $2 billion dresses the most egregious—with stiff least $81 billion to provide a tax break extra.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00054 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8575 The Walton Family: Wal-Mart; seven They did it. I voted against it. the reasons they so fear this debt is be- descendants; a combined worth of $87 They made major changes in the Tax cause they know, at the end of the day, billion—more than some whole coun- Code to end after 10 years, and they did they will have to repay it—their sons, tries. His family will pay $7 billion less that Humpty Dumpty roller coaster their daughters. The bondholders will in taxes under the Republican proposal with the estate tax. That wackiness be okay, but the middle class will pay. was their effort to hide the true versus the Pomeroy. b 2300 The Gallo Family. amount of the hole they were burning The Dorrance Family: the Campbell in the deficit, so they have only them- Mr. CAMP. Mr. Chairman, I yield Soup giant with a combined wealth of selves to blame. myself such time as I may consume. $6.5 billion and a savings of $522 mil- But let me return. We’ve heard a lot of debate on floor lion. They couldn’t afford $14 billion to this evening, but let’s look at what the The Mars Candy Company Family: give $250 payments to Social Security employers and economists are saying $30 billion in wealth. Their estate taxes recipients—and overwhelmingly, they about this legislation and this agree- will go down $2.5 billion. killed it when we tried to pass it—but ment. Are these the people this Congress is they can take $114 billion out of Social The National Federation of Inde- supposed to represent? Let’s vote for Security. pendent Business, the largest organiza- Pomeroy. Mr. CAMP. I continue to reserve the tion in the country representing small Mr. CAMP. I continue to reserve the balance of my time. businesses: Senate passage of the tax balance of my time. Mr. LEVIN. It is now my real pleas- compromise is a good step, the first Mr. LEVIN. It is now a real pleasure ure to yield 21⁄2 minutes to a Member step, to encourage the certainty that to yield 1 minute to the very distin- who has been very active on this issue, the small business community needs guished gentleman from Massachusetts the gentleman from Vermont (Mr. and has repeatedly asked for. Knowing (Mr. FRANK). WELCH). their tax liability will remain low and Mr. FRANK of Massachusetts. Mr. Mr. WELCH. Mr. Chairman, with all including a workable estate tax com- Chairman, two pieces of legislation tell the back and forth, what we really promise that will not threaten the fam- us a lot about the values of our Repub- have before us are two problems facing ily business are key components to a lican colleagues. America. small business’ ability to move for- One is too few jobs: 9.8 percent of This bill will take $114 billion in rev- ward, grow their business, and create Americans who want work are out of enues out of Social Security, helping jobs. Changes to this compromise work—15 million people. Millions more them make the case ultimately, in a would jeopardize the needed relief and are so discouraged that they are the kind of self-fulfilling prophecy, that we certainty small businesses need. We en- underemployed. We have got to find a can’t pay everything we want. courage the House to take up this Earlier this session, they voted over- way to put them back to work. measure quickly and pass this bipar- whelmingly and killed a proposal to The second problem we have is too tisan bill in its current form. give each Social Security recipient much debt. Without going into the his- The Business Round Table says: Res- $250—not $250,000 or $250 million, num- tory of how we went from a record sur- toration of these provisions lifts an un- bers with which they are more famil- plus to a record deficit, we went from certainty for businesses that will im- iar—but $250. These are people who are the Clinton tax rates to the Bush tax prove their ability to employ more going to be facing an increase in Medi- rates. We went from a surplus of 20 mil- workers and grow the economy. lion jobs created to 8 million jobs lost. care because we learned only in Octo- The U.S. Chamber of Commerce: En- We have a debt now that is approach- ber that there would not be a cost-of- acting this bipartisan framework ing $14 trillion, and with the passage of living increase. forged by the President and Congress is We couldn’t afford the $14 billion to this bill, we will be approaching $15 one of the best steps Washington can give $250 to older people who are hav- trillion. take to eliminate the uncertainty that ing trouble paying their heating bills, The question for us to the American is preventing our employers from hir- but they can afford $114 billion that people is: ing, investing, and growing their busi- will go to everybody, including to peo- If we are going to borrow a dollar for nesses. ple who make $100,000 a year, who will any reason, will there be a job bang for And what does economist Mark Zandi get eight times $250. The values of the that dollar borrowed? say, frequently cited by the Speaker as Republican Party are revealed by this. That dollar borrowed is coming from By the way, we are in this situation China. What this legislation will do is an important voice in economic mat- because of dishonesty. When George literally ask the American middle class ters: The fiscal policy compromise Bush and the Republicans passed the to borrow $200 billion to pay for tax reached this week by the Obama ad- tax cuts in 2001, they didn’t want to cuts for the wealthiest families. This is ministration and congressional Repub- admit the full account of how much it not an objection to people being licans would be good for the economy cost. wealthy, as has been said. They can be next year. The Acting CHAIR. The time of the generous, and they can create jobs. It It is too risky to play games with the gentleman has expired. is about whether that dollar borrowed economy. We need to stop this massive Mr. LEVIN. I yield the gentleman 1 will produce a job for an out-of-work tax increase in its tracks. Support this additional minute. American—and it won’t. legislation in its current form. Oppose Mr. FRANK of Massachusetts. Not There are other alternatives to what the Pomeroy amendment. simply are they showing their values, is before us. We should not be bor- I yield back the balance of my time. but they said, Oh, you’re going to give rowing money that won’t be produc- Mr. LEVIN. It is now my pleasure to $250 to Warren Buffett on Social Secu- tive. What we should do is a very sim- yield the balance of my time to our dis- rity. ple alternative that hasn’t even been tinguished majority leader, Mr. HOYER They want to give $250,000 to Warren considered: of Maryland. Buffett, which, to his credit, he doesn’t We can extend the middle class tax Mr. HOYER. I thank the gentleman want. cuts, as President Obama wants to, but for yielding. In fact, the reason we are in this bind we can stop it at $250,000. We can invest We have just come through a wrench- is, in 2001 and 2003, George Bush and the savings in deficit reduction and ing election. Wrenching, in large part, the Republican majorities wanted to half in infrastructure development. We because of the pain being experienced pass very large tax cuts despite their can, as Mr. FRANK said, provide a $250 by our constituents, some more than professed concern about the deficit— one-time payment to the folks on So- others. A pain that they’re experi- and we now see from this bill that their cial Security, who haven’t had a COLA encing in part because they are unem- slogan is ‘‘deficit-schmeficit’’—but increase in 2 years. We can have a piece ployed or underemployed or working they didn’t want to admit how much it of legislation that will borrow less, re- two or three jobs to support themselves would cost, so the CBO couldn’t give us duce the deficit, and create more jobs. and their families. We all heard that the full value of the cost. They made Our responsibility, fundamentally, is pain. We all heard that concern. At the very bad tax policy. to the American middle class. One of same time as we heard the concern

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00055 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8576 CONGRESSIONAL RECORD — HOUSE December 16, 2010 about the pain of economic uncer- will vote for this bill because I don’t omy, but we are paying too great a tainty, we heard the concern and the want to see middle-income working price for it because, very frankly, I fear about deficits and debt. people in America get a tax increase don’t need a tax cut. That’s not to say And so, my colleagues, we are con- because I think that will be a depres- I don’t want a tax cut. But it will not fronted with two twin challenges: sant on an economy that needs to be affect my life, and it will not affect the growing our economy and creating lifted up. economy. It will exacerbate the debt. jobs, and confronting this gargantuan But I am also concerned about the That’s not good for my children or for deficit that puts at risk our economy deficit, and I know we’re going to bor- our country. and the future of our children. The row every nickel in this bill. I’m for So I would urge all of us, as we vote American public would hope that we PAYGO. My children, if you ask them, on this piece of legislation—whatever would come together and pass that on would say they’re for PAYGO because decision we make—to understand the which we can agree, that on which we they don’t want to pay our bills. message that we all received about can compromise. They’re going to have their own bills. growing the economy. That is why the This House, in fact, passed two pieces Unfortunately, the President and we President has made this deal that a lot of legislation weeks ago and months were confronted with alternatives: Do of us don’t like, because we think that ago. Months ago, we passed legislation we extend unemployment insurance it was unnecessary to adversely affect which would give certainty, and my when unemployment is at a 9.6 to 9.8 the deficit with $700 billion. Republican colleagues talk about cer- percent rate, or do we let them lan- And because we have limited it to 2 tainty and I agree with them. We need guish with no certainty? Not certainty years—it’s less than that in terms of to give certainty to families, certainty about planning whether or not their $7 just the upper income—we did not have to businesses, and, yes, certainty to million estate can be excluded from to pay that price. But we needed to pay those who are worried about estates. taxes, but worrying about whether the price. We needed to borrow the They ought to expect that of us, and we they can put food on the table tomor- money to get this economy moving, to passed 12 months ago a continuation of row. But unemployment insurance has get the middle income people having then-existing law, $3.5 million per languished because we haven’t had a dollars in their pockets so they can spouse or $7 million per couple exemp- deal on upper-income taxes or estate grow the economy. And that’s worth tion and a 45 percent rate. taxes being increased from $7 million the price because we will not solve the But that languished in the United to $10 million for a couple. deficit problem if we don’t get our States Senate. It languished because, My friends on both sides of the aisle, economy growing. We cannot depress frankly, there was not a majority or at we need to come together. We need to at the same time we try to grow, but least not 40 votes to extend certainty. come together in dealing with this we grow in the short term, and we That was unfortunate, in my view, be- debt. We need to come together in deal- solve the deficit in a little longer term. cause I think that was an appropriate ing with tax reform. We need to come So I’m going to vote for the Pomeroy rate, and I will vote for it on this floor, together in growing jobs. That ought amendment. And then in the final anal- embodied in the Pomeroy amendment. to be the agenda of this next Congress ysis, I will vote for this bill. I believe And then we passed just a few days and every Congress thereafter until we that folks need certainty, as has been ago legislation which would say to all accomplish those objectives and the said. Americans, you will not receive any American people have the certainty I urge my colleagues, as we vote on tax increase on the first $250,000 of your and confidence that we want them to this legislation, to commit ourselves income if you’re a married couple or have. on both sides of this aisle to do what $200,000 if you’re an individual. All in- b 2310 America wants us to do—to come to- dividuals, no matter how rich, no mat- Now, ladies and gentlemen on the Re- gether as we did. In 1993, we didn’t. ter how poor, all individuals would publican side, very frankly, I have not Some people lost their jobs because have their tax capped, and very frank- seen your economic philosophy work. they voted with courage and conviction ly, there were only a few Members on Jack Kemp and I served on the Appro- and correctness. this floor on either side of the aisle priations Committee, but I don’t think Ladies and gentlemen, there probably who disagreed with that proposition. supply side is working. Supply side, in is nobody on this floor who likes this But as too often happens because we my opinion, has the proposition that, if bill; and therefore, the judgment is: Is don’t get everything we want, we won’t you do less, you get more. Nothing that it better than doing nothing? Some of take something we want. That’s not I have done in life instructs me that, if the business groups believe that it will good for the American people, and it’s I do less, I get more. And because of help. I hope they are right. Not only do not good for our country. And very that, because of the concept, if you I hope they are right, I hope if we pass frankly, only three or four Members on simply cut taxes on those who are the this bill that they respond and create the Republican side of the aisle chose wealthiest in our society, somehow, the jobs that we know they have the to vote for that legislation, notwith- magically, the deficit will be elimi- resources to do. standing the fact it carried out part of nated. This is a jobs bill, in my view, which what they thought was appropriate, Not one year did that happen. is why I will vote for it. It could be a and we agreed. But it was not enough. It happened, frankly, when we said better jobs bill if we invested the The President of the United States the upper 1 percent was going to pay money that we are giving to the has a responsibility to all Americans, just a little more in 1993, and all of you wealthiest in America in job growth. It and like every President he can’t get opposed it—all of you, to a person. And is a bill that will help those who have everything he wants. To that extent, you said it would destroy the economy. been unemployed week after week after he’s like us. We don’t get everything Your leader at that point in time—I’m week and whose angst has grown and we want, and this bill does not rep- not sure it was the majority leader at grown and grown. resent everything I want. Those of you that time—Dick Armey said that this Ladies and gentlemen, each of us will who have heard me debate time after would tank the economy. do our duty as we see it, but let us time know how concerned I am about He was 180 degrees wrong. when we do so pledge that we will do this debt and deficit, and you have seen In fact, we experienced the best econ- better in the months and years to me vote on this floor sometimes in the omy we have seen in this country in come. small minority against steps that I my lifetime, with 22 million new jobs Ms. HIRONO. Mr. Chair, I rise in reluctant thought would exacerbate the budget in 8 years—216,000 jobs per month in opposition to H.R. 4853, the Tax Relief, Un- deficit without a proper return. the private sector. But unfortunately, employment Insurance Reauthorization, and This bill, the President of the United under the economic program that we Job Creation Act. States believes, and I believe, will have adopted in 2001, we saw the worst econ- Two weeks ago, I voted for a better bill, the a positive effect on the economy, and I omy, the worst job production since Middle Class Tax Relief Act, which passed the think we need that. And unlike some of Herbert Hoover. House but was not taken up by the Senate. my colleagues, whose views I share but Now, I’m going to vote for this bill That bill would have extended tax cuts for I have reached a different conclusion, I because I think it does help the econ- middle class taxpayers, including about

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00056 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8577 323,000 lower- and middle-income families in richest families in the country will cost us more my colleagues, I understand the need for com- my congressional district who make less than than $68 billion, adding to our deficit without promise, and I fully appreciate the predica- $200,000 (under $250,000 for joint filers). creating jobs or strengthening our economy. ment the President found himself in. The bill that is on the floor today extends The Levin/Pomeroy Amendment makes the While Democrats have been fighting to en- tax cuts on all income levels, including the bill a bit fairer by taxing estates at the 2009 sure tax rates do not go up on 98% of Ameri- wealthiest Americans, costing $407.6 billion. rate of 45 percent and covering estates over cans, Senate Republicans have made it abun- Under this bill, the millionaires and billionaires $3.5 million, not the $5 million in the Senate dantly clear they are willing to raise taxes on can sleep soundly, secure in the knowledge bill. This amendment would save $23 billion. every American this January unless they get a that their tax cuts will continue for at least an- Extending estate tax relief for two years at the bonus tax break for the wealthiest in our soci- other two years, while the unemployed get re- 2009 rate provides Americans with some cer- ety—and provide a tax-cut bonanza to a hand- lief for only 13 months. Economists predict tainty for estate planning in a way that is much ful of super-rich estates. that many millions will continue to be unem- more reasonable and fair than that proposed In order to break the stalemate, the Presi- ployed beyond the 13 months. by the Senate bill. dent concluded he needed a deal—a deal that This deal is weighted so heavily toward the The key components of this bill that I had to balance two of our Nation’s very real richest few that the unemployed only receive strongly support include the extension of tax but competing imperatives: the need to accel- 7 percent of the total package. We must fight cuts for the middle class and the extension of erate economic growth, and the need to re- for a better deal. unemployment insurance for Americans who duce our national debt. But my biggest concern has to do with a lost their jobs because of this difficult econ- Some elements of today’s legislation strike threat to the solvency of Social Security con- omy. In addition to my recent vote on extend- the right balance. In particular, the middle tained in the legislation. The so-called ‘‘payroll ing tax cuts for the middle class, I voted to ex- class tax cuts, unemployment benefits and tax holiday’’ in H.R. 4853 raids the Social Se- tend unemployment benefits seven times this Recovery Act credits for working families are curity Trust Fund. Anyone who cares about year alone. both economically justifiable and likely to Social Security should be scared by this. This We’ve had numerous opportunities to ex- achieve their intended effect. provision reduces the Social Security payroll tend the tax cuts for the middle class and ex- Unfortunately, other provisions significantly tax and self-employment tax by two percent- tend unemployment benefits. The majority of miss the mark. According to the Congressional age points in 2011. Payroll taxes provide dedi- Republicans voted against these proposals Budget Office, the $89 billion spent extending cated funding for the Social Security Trust time and again. tax breaks for upper income earners is un- Fund, which is completely separate from the On balance, I cannot in good conscience likely to create jobs. Moreover, I have signifi- General Fund. Under this bill, these Social Se- vote for this bill in its present form. The $858 cant concerns about the structure and long curity funds will be repaid by $112 billion from billion price tag and true cost of the bill—tax term consequences of the payroll tax holiday. But the tipping point in this package is the the General Fund. But this ‘‘one-time’’ infusion cuts for the wealthiest Americans and the im- estate tax. In an era of $1 trillion deficits, with from the General Fund puts us on a slippery pact of the ‘‘payroll tax holiday’’ on Social Se- our national debt approaching $14 trillion, slope. While this payroll tax holiday expires in curity—far outweigh the benefits. This bill is barely two weeks after the publication of the one year, there is a serious question as to blackmail, holding the unemployed and middle bipartisan Fiscal Commission’s ‘‘Moment of whether expiration will occur. We can expect class hostage to give a special deal to the mil- lionaires and billionaires. We must fight for a Truth’’ report, does anybody really think we a bill to extend this payroll tax holiday be- should be borrowing $23 billion from China to cause any other outcome would be character- better deal. I urge my colleagues to oppose this legisla- give the wealthiest 6600 estates an average ized as a tax increase. A permanent decrease tax break of $1.7 million a year? in the Social Security payroll tax will put the tion unless we are able to vote on a bill that genuinely helps the working families that we Think about it. $23 Billion. For the wealthiest Social Security Trust Fund in jeopardy. Re- 6600 estates a year. In a nation of over 300 publicans will be one step closer to their stat- are here to represent. Ms. CORRINE BROWN of Florida. Mr. million people. Without any benefit whatsoever ed goal of privatizing and dismantling Social Chair, I rise today in opposition to the irre- for job creation or economic growth. Security’s safety net. If we want to put more sponsible and immoral tax cuts for the wealthi- I would say to my colleagues on both sides money in the hands of families, we could look est Americans included in this bill. of the aisle that if we can’t look this moment at cutting a check for families from the Gen- On this very night, senior citizens, disabled squarely in the eye and conclude that now is eral Fund, but weakening the funding source people, and poor families in public housing in not the time to be giving the top three tenths for Social Security is too risky. Sanford, Florida are going without heat during of one percent of Americans a multi-million tax In Hawaii, Social Security benefits serve as one of the coldest spells in Florida’s history. break, we are clearly not serious about tack- a lifeline for 220,000 seniors, disabled people, Yet, Congress is about to give billions to bil- ling the monumental fiscal challenges we face. and dependents. Thousands of my constitu- lionaires. There is a disconnect between tax And I would remind my colleagues that ents have urged me to preserve Social Secu- cuts for the wealthy and the pain of everyday these fiscal challenges are not theoretical. rity, and I have consistently acted to do so. Americans that is shocking beyond belief. Earlier this week, Moody’s warned that today’s Earlier this year, I spoke on the House floor in If we cannot take care of our poorest citi- legislation increased the likelihood of a down- support of preserving this bedrock promise to zens, why are we giving handouts to the rich- grade to the United States’ Triple-A rating over our nation’s seniors and fighting Republicans’ est? The elections told us that Americans are the next two years. Bond prices have fallen plans to privatize or reduce benefits. I also tired of giveaways to Wall Street and CEOs. sharply and yields now sit at six month highs. signed a letter to the Fiscal Commission urg- But here we go again. If we’re not careful, the bond market could ing that any plans to reduce the deficit make Why are we holding the middle class hos- easily take away what today’s legislation aims no cuts to Social Security or change the retire- tage to extending tax cuts for the top 2% of in- to provide. ment age. comes? We can give away $700 Billion in in- Many of my Republican colleagues sup- This bill truly is a raw deal for American come tax cuts, but we can’t fix the heat in porting today’s legislation profess a commit- seniors. One of my constituents in Hilo calls Sanford public housing. ment to fiscal discipline and balanced budgets, the proposal a ‘‘bomb of a cut to Social Secu- On Christmas Eve, why are we giving a 25 but turn a blind eye to deficit spending so long rity taxes.’’ A majority of Americans oppose Billion Dollar gift to forty thousand families, but as it arises from tax cuts. This is not coinci- cutting Social Security payroll funding and are giving nothing to millions of people who have dence. The rationale for the inconsistency has willing to pay more so that they can be as- been unemployed for more than 99 weeks? been succinctly explained by conservative ac- sured that they will get benefits when they re- The Bible teaches in Proverbs 21:13, ‘‘if a tivist Grover Norquist, who once proclaimed: ‘‘I tire or become disabled. I don’t make pledges man shuts his ears to the cry of the poor, he don’t want to abolish government. I simply lightly, but I pledge that I will vote to return too will cry out and not be answered.’’ want to reduce it to the size where I can drag dedicated Social Security payroll tax funding I have never shut my ears to the cries of it into the bathroom and drown it in the bath- should it be brought up for a vote next year. Americans who need help, but I will not vote tub.’’ Further, this legislation gives an estate tax for a bill that ties the fate of many to the After starving government, these same Re- giveaway to only 6,600 families in our entire wealth of a few. publicans will undoubtedly be back in the country, giving them each an average addi- Mr. VAN HOLLEN. Mr. Chair, after much 112th Congress demanding debilitating and tional tax cut of more than $1.5 million. Ac- deliberation, I rise in opposition to today’s leg- draconian cuts in priority investments like edu- cording to the Tax Policy Center, the new tax islation. cation, clean energy and biomedical research. would affect the smallest number of estates in To me, this has never been about the wis- This playbook is as predictable as it is mis- any year since 1934. This tax giveaway to the dom or necessity of compromise. Like most of guided.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00057 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8578 CONGRESSIONAL RECORD — HOUSE December 16, 2010 Mr. Chair, we simply cannot afford to borrow that funds Social Security, the long-term sta- the more than $100 billion reduction in our billions of dollars to perpetuate wasteful and bility and safety net for our senior citizens is deficit that will be the health care law once it unwarranted tax breaks for our wealthiest citi- in jeopardy. For every person who puts money is fully in effect. zens at a time of unprecedented and into the Social Security program, two people I cannot, and will not, support this fiscally ir- unsustainable national debt—tax breaks that take money out of it. If you think that this one- responsible bill. It is my hope and desire that do little for job creation and even less for the third cut to the payroll tax is going to come the wisdom of the Congress prevails and we economy. I accept the need for a deal. But for back in two years, don’t count on it. The more reject this legislation and start over with a bill our children and our grandchildren, I firmly be- that this fund is delayed, the more the Social that caps the top level of earnings at $250,000 lieve there is a better deal to be had. Security program—a governmental program and adds a tier five level for all of those indi- Ms. KILPATRICK of Michigan. Mr. Chair, I that has worked for more than seven decades, viduals who are unemployed and have ex- have been involved in politics for more than and which is the sole difference between life hausted their state and federal benefits. Our three decades. I am proud of my record of in a home or life on the street for over half of children and grandchildren, who have to pay public service to the people of the great State our senior citizens—is gutted. for these programs, are watching what we do. of Michigan and to our Nation. Some of the This bill insufficiently helps the unemployed. Mr. WOLF. Mr. Chair, I support extending proudest votes I have ever cast in my career Michigan has one of the Nation’s highest rates the 2001 and 2003 income tax cuts for all tax- have been in support of the economic stimulus of unemployment, and Michiganders des- payers, reducing or even eliminating the es- package, health care reform, saving our man- perately need unemployment insurance. But tate tax, and limiting the impact of the alter- ufacturing base by saving the auto industry, guess what? While this bill extends unemploy- native minimum tax. If those were the only and preventing our banking system from drag- ment for those three million people who cur- issues before us today, I would vote for that ging our economy into a full-blown depression. rently get it, it does nothing, not one thing at package to reduce the tax burden on Ameri- It is my point that we have not done enough all, for the millions of unemployed workers cans. to advertise the good things we have done for who have exhausted their benefits under tier But this package is a bridge too far and I Americans. four. If you have been out of work more than will vote no. With this package we are saying The economic stimulus package provided 99 weeks—and plenty of Americans have ‘‘charge it.’’ We aren’t even making an attempt 95 percent of all Americans with a tax cut, been out of work that long through no fault of to pay for it. We are voting to add over $857 saved or created close to three million jobs, their own—this bill does not provide what I billion to our Nation’s already massive, nearly and allowed States and cities to use bonds to have been pushing for the last year. That is a $14 trillion debt. This is less than two weeks fill their budget deficits. Thanks to the revolu- new tier five level of unemployment benefits after the president’s debt commission issued tion in health care by our health care law, the so that workers who have exhausted their fed- its a report called ‘‘A Moment of Truth,’’ which largest deficit reduction law in the history of eral and state benefits are able to feed their outlined the looming financial crisis that threat- the United States, all Americans will have ac- families and keep a roof over their head. If we ens the future of our country. cess to health care for the first time in history. are going to extend unemployment, let’s ex- We’re accumulating a trillion dollar deficit While this law becomes fully phased in by tend it for all Americans. every year. This year, we are paying $202 bil- 2014, some of its mandates are working for This bill is a tax increase for most Ameri- lion a year in interest on our debt. That’s near- Americans now, such as the fact that citizens cans. While this bill is a sure-shot tax cut for ly $4 billion a week. cannot be denied health care coverage due to those people making or inheriting millions of By 2021, we will pay nearly $1 trillion a year pre-existing conditions, filling in the Medicare dollars, for nearly 50 million hard working solely to service the debt. One trillion. Part D ‘‘doughnut hole,’’ and that insurance Americans, this bill is actually a tax increase. That’s nearly $19 billion a week or $2.7 bil- companies cannot deny your health insurance Workers who make less than $20,000 per lion a day. Two point seven billion dollars a once you are ill. The bold Democratic program year will see a tax increase. And by the way, day just to pay the interest. That is utterly to save the auto industry, like the Troubled if you are a federal worker, a worker who will unsustainable. Asset Relief Program (TARP) not only cost see a pay freeze over the next two years, if And money that goes to paying off the inter- taxpayers less than anticipated, taxpayers can your job has not been totally eliminated, you est, let alone the principle, on the debt is potentially reap a profit from these programs. will see a tax increase. Finally, if you work for money that will not be invested in road con- We have been efficient and effective with the your state or city government, you will see struction, or cancer research, or homeland se- peoples’ purse. your taxes increase because of this bill. curity, or math and science education. We are now voting on a tax ‘‘deal’’ that This bill is a woefully inefficient way to cre- Over four years ago I came to the House President Barack Obama agreed to with Re- ate jobs. The Congressional Budget Office floor to propose an independent bipartisan publicans to extend the 2001 and 2003 tax and other non-partisan, objective organizations commission to address unsustainable federal cuts started by former President George W. have widely stated that tax cuts is, by far, the spending. It would put everything on the Bush. These tax cuts, which were not offset most inefficient way to create jobs. At a total table—entitlements, all other spending and tax by responsible spending cuts and gave the cost of over $900 billion, this bill is expected policy. The SAFE Commission—short for Se- majority of the tax cuts to the richest one per- to lower unemployment by less than one per- curing America’s Future Economy—would op- cent of all Americans, were fiscally irrespon- cent. The most efficient way to create jobs in erate in an authentic and transparent way, sible when they were first proposed. They an economy in which businesses cannot cre- holding a series of public meetings across the were so controversial and so fiscally unstable, ate them? A federal direct-hire program. I of- country to hear from the American people. the Republicans refused to make them perma- fered such a program as an amendment to the The commission would send its recommenda- nent. It took then Vice President Dick Cheney Emergency Supplemental Appropriations bill, a tions for a way forward to a sustainable econ- to come to the Senate to break the 50–50 tie program modeled after the successful Com- omy to Congress, which would be required to that stopped the bill from final passage. prehensive Employment and Training Act vote up or down. I would like to take this opportunity to re- (CETA) that would have immediately put more Senator GEORGE VOINOVICH, who is retiring mind all Americans that we have had not one, than one million people back to work. It was this year and who has been a champion of fis- not two, but if this bill passes, four major tax rejected earlier this year. cal integrity throughout his career in public cuts at a time in which we are involved in not I proudly voted for the extension of tax service, was my partner in the Senate as one, but two, wars. This is the first time in breaks for Americans who make $250,000 or sponsor of the SAFE bill. Congressman JIM American history that we have had a war and less. I also proudly voted to extend unemploy- COOPER and I also teamed in the 110th and we did not have a tax increase to help pay for ment benefits for three million American fami- this Congress to push the SAFE bill, garnering that war. lies, and continued to fight for the addition of 118 cosponsors. Joining the effort in the Sen- I cannot, and will not, support this fiscally ir- a tier five level of unemployment benefits. ate with Senator VOINOVICH were Senators responsible bill. This bill is a horrible deal for These two fiscally sound policies would help LIEBERMAN, CONRAD and GREGG. Americans. Not only does it extend the Bush reduce our deficit and stabilize American fami- Senators CONRAD and GREGG introduced a tax cuts, and the Republicans are willing to lies during the holiday season and beyond. similar bill calling for a deficit commission that hold the extension of unemployment benefits Unfortunately, this was apparently not good became the blueprint for the President’s Na- to three million American families to get it enough for the Republicans, who overwhelm- tional Commission on Fiscal Responsibility done, as the late night infomercials like to say, ingly did not support the preservation of al- and Reform and on which both senators ‘‘wait, there’s more.’’ most three million jobs in the economic stim- served. On December 3, a bipartisan majority This bill hammers Social Security. Through ulus package, the saving of American manu- of 11 of the 18 commission members voted to this legislation’s cut in the payroll tax, the tax facturing through the auto loan program, or recommend a bold plan to Congress that

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00058 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8579 would address our Nation’s fiscal imbalance More than 46 percent of the U.S. debt held Is it conceivable to imagine the Saudis by cutting $4 trillion from the federal budget by the public is in foreign hands. Saudi Arabia threatening to dump our currency if we don’t over the next decade. I commend Senators was home to the 9/11 terrorists. Saudi Ara- withdraw from the region? Is it conceivable to COBURN, CONRAD, CRAPO, DURBIN, GREGG, bia’s Wahhabi brand of Islam is taught in imagine China threatening to dump our cur- and Representative SPRATT for voting to ad- some of the most radical mosques and rency if we don’t stop pressing nuclear-armed vance the proposal. They recognize the seri- madrassas around the world, including along North Korea? ousness of our fiscal situation and that the the Pakistan/Afghanistan border. Saudi Arabia Simply put, we are presently borrowing hun- Congress needs to develop a plan for action. represses women and persecutes Christians dreds of billions of dollars from countries The leaders of the bipartisan fiscal commis- and Jews. which pursue aims that are at odds with our sion, Erskine Bowles and former Senator Alan Their textbooks are filled with hateful mes- national interest and values, both directly and Simpson, wrote to the president and leaders sages about minority faiths. Just last month a indirectly. of Congress: BBC expose’ reveled that Saudi textbooks The chairman of the Joint Chiefs of Staff ‘‘Our growing national debt poses a dire used for weekend education programs to has pointed to our nation’s debt as a national threat to this Nation’s future. Ever since the teach about 5,000 Muslim children in Britain, security risk. It is expected that, as early as economic downturn, Americans have had to contained claims that ‘‘some Jews were trans- 2014, our nation will spend more on interest make tough choices about how to make ends formed into pigs and apes . . .’’ Further, the payments than was spent on the 2010 de- meet. Now it’s time for leaders in Washington books, which again are Saudi national cur- fense budget. In case you missed that, we will to do the same.’’ riculum, contain ‘‘text and pictures showing the pay more to borrow money than we will pay to Yet today, we see that once again, Wash- correct way to chop off the hands and feet of defend our freedom. ington is punting. Less than 80 hours after the thieves.’’ Is this a country we want to be be- This is a package full of numerous perks to commission’s 11 to 7 bipartisan vote, ‘‘this holden to? sweeten the deal. As the Wall Street Journal compromise’’ was unveiled at a cost of nearly Or what about communist China, our largest editorial, ‘‘The Hawkeye Handouts,’’ noted on $1 trillion in borrowed money. The commis- banker, which routinely violates the basic December 13, Republicans ‘‘should worry that sion’s chairmen told us that ‘‘the era of debt human rights and religious freedom of its own the tax bill is turning into a special interest denial is over.’’ Yet the legislation before us people where Catholic bishops, Protestant spectacle. The bill revives a $1 a gallon bio- today clearly demonstrates that that is simply ministers and Tibetan monks are jailed for diesel tax credit at a cost of nearly $2 billion, not the case. practicing their faith? I’ve seen how they plun- and there’s $202 million for ‘incentives for al- To quote Senator COBURN’s floor statement dered Tibet with my own eyes. China was ternative fuel,’ $331 million for a 50% tax cred- of December 8: once again in the spotlight recently when it for maintaining railroad tracks, and so on. ‘‘What we need to do, Democrats and Re- famed dissident Liu Xiaobo was awarded the publicans and our Independent colleagues, is These credits are a form of special interest Nobel Peace prize. China’s response? Place spending via the tax code, which is precisely recognize the depth and magnitude of our Liu’s wife under house arrest, stop other dis- the business as usual behavior that Repub- problem right now. There needs to be a great sidents from attending the award ceremony in licans told tea party voters they wouldn’t en- big time out. Who cares who is in charge if Oslo and place them under tight surveillance, there is no country to run that can be gage in.’’ and indefinitely postpone trade talks with Nor- Dan Eggen of the Washington Post reported salvaged? It doesn’t matter. way. yesterday that ‘‘. . . the ethanol provision . . . ‘‘Economists worldwide and some of the The U.S. intelligence community notes that has cost taxpayers more than $21 billion since brightest people at Harvard and MIT, the Uni- China’s attempts to penetrate U.S. agencies 2006. The Government Accountability Office versity of Texas, Pennsylvania, they don’t are the most aggressive of all foreign intel- sleep at night right now. They know we are on ligence organizations. According to the FBI, recently concluded that the credit has had little the razor-thin edge of falling over a cliff. Chinese intelligence services ‘‘pose a signifi- impact in encouraging ethanol use or produc- ‘‘The fact is, both parties have laid a trap for cant threat both to the national security and to tion, especially since the government already future generations by our inaction, our lazi- the compromise of U.S. critical national as- mandates rising levels of ethanol in gasoline ness, our arrogance, and a crass desire for sets.’’ Weapons that entities of the People’s and protects the corn ethanol industry through power. We are waterboarding the next genera- Republic of China supplied to Iran were tariffs.’’ tion with debt. We are drowning them in obli- ‘‘found to have been transferred to terrorist or- From farmers producing ethanol to Puerto gations because we don’t have the courage to ganizations in Iraq and Afghanistan.’’ China is Ricans making rum to film producers in Holly- come together and address or even debate a a significant arms supplier and source of eco- wood, there’s something for everyone. Even real solution. . . . The problem is so big and nomic strength to the genocidal regime in worse, the payroll tax holiday raids, for the so urgent and so necessary that we ought to Sudan. Do we really want China to be our first time in our history, the Social Security have [a] debate. We ought to make sure the banker? trust fund, which is already going broke. No American people know the significance of the In a February 2010 piece, Wall Street Jour- one comes away empty handed. problems facing us.’’ nal columnist Gerald Seib wrote, ‘‘the Federal This is, as Charles Krauthammer wrote in I couldn’t agree more. budget deficit has long since graduated from the Washington Post on December 10, noth- On Monday, Moody’s Investment Service nuisance to headache to pressing national ing more than a stimulus by another name— warned that this legislation jeopardizes Amer- concern. Now, however, it has become so an unfunded stimulus that costs considerably ica’s coveted AAA credit rating, and could lead large and persistent that it is time to start more than the President’s stimulus of 2009 to a negative outlook in as little as two years. thinking of it as something else entirely: A na- that so many on my side of the aisle opposed. For the record, I am inserting its report. tional security threat.’’ Maya MacGuineas, president of the Com- If our credit rating is downgraded, the cost These foreign countries, with vastly different mittee for a Responsible Federal Budget, hit to borrow money will rise. aims than our own, could end up negatively the nail on the head in an October 2009 Na- Everything, from a home loan to a car loan influencing U.S. foreign policy by threatening tional Journal article when she said, ‘‘It’s like to tuition for college to a credit card bill to in- to dump our currency in the world market. fiscal jenga, where people are piling on more terest payments on the debt, will increase. We Such actions would not be a historical anom- and more debt, and finally, something’s going will be paying more to sustain, not to improve, aly. to be the cause of it collapsing, but no one be- our existing quality of life. Recall 1956 in the Suez Canal crisis, which lieves their thing is going to be the tipping We need look no farther than Europe to see some believed signaled the end of Britain and point.’’ the destructive impact that results after a na- France as world powers. Egypt announced This package could be the ‘‘thing’’ that takes tion’s financial crisis. There have been riots in that it was going to nationalize the canal, us closer to the tipping point. Belgium, Spain, France, Ireland, England, which outraged the British and French, who Candidly, I have never been more con- Italy, and Latvia. Just Monday, Moody’s threat- then devised a plan to use military force to cerned about our country’s future. We see a ened to further downgrade Spain’s credit rat- keep control. The U.S. wanted to avert conflict nation whose young people are lagging behind ings. Will there be rioting in the streets here at any cost. And President Eisenhower threat- their peers globally. We see a Senate debat- like we are now seeing abroad? ened to sell the U.S. reserves of the British ing a $1.1 trillion omnibus spending measure This House, and the Senate before us, is pound, which would essentially result in the containing over 6,000 earmarks representing continuing on its profligate ways of adding bil- collapse of the British currency. The British over $8 billion worth of spending. We see a lions of dollars to the nation’s credit card, changed course, demonstrating the power, the Congress and a president embracing a tax which has been issued by the banks of China impact, that economic manipulation can have package that risks our nation’s highly valued and Saudi Arabia, among others. on foreign policy. AAA bond rating. All the while we see young

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00059 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8580 CONGRESSIONAL RECORD — HOUSE December 16, 2010 men and women in uniform, in distant places unemployment benefits, and some other This bill also reduces the burden of the es- like Afghanistan and Iraq, modeling the sort of measures may be $700–$900 billion, raising tate tax, which according to law is set to return sacrifice that few Americans even expect from the debt ratio to 72%–73%, depending on the in 2011. This unconscionable tax is an insid- effects on nominal economic growth. The their elected leaders any more. ious form of double taxation and comes into Only through shared sacrifice can we hope government’s ratio of debt to revenue, in- stead of declining rather steeply over the effect in 2011 with a 55 percent tax rate. to walk back from the precipice. But instead of two years from about 420% at the end of fis- Americans should not be penalized for accu- asking for sacrifice, the measure before us cal year 2010, would decline considerably less mulating savings during their lifetimes. The es- today provides something for everyone. to somewhere just under 400%. This is a very tate tax especially harms small and family- Maybe not as much as everyone wanted, but high ratio compared with both history and owned businesses, which often must be sold what was truly sacrificed? The word com- other highly rated sovereigns. to pay the tax bill. H.R. 4853 reduces this promise implies that both sides in the negotia- Thus, while higher growth and lower un- death tax rate from 55 percent to 35 percent, employment are clearly good for the econ- tion give up something. No one gave up any- and raises the exemption from $1 million to $5 thing. Legislation of this magnitude must be omy, the package is negative for US govern- ment debt metrics. In addition, there is a million. While I would prefer to see this tax balanced by reforms. risk that the two-year extension may be re- eliminated completely, this significant tax cut But instead of reforms we see recklessness. newed at the end of 2012, given that that pe- will help thousands of families. This legislation walks us further down the path riod coincides with a presidential election. A Many people have urged that this tax bill be to greater and greater deficits and debt that permanent extension of the tax cuts alone rejected and that Republicans come back in can only lead to a place none of us wants to (without other measures) could result in a January to vote on a clean bill. Waiting until go—a bankrupt America. I cannot in good considerable increase in deficits and debt the next Congress would also mean that tax- conscience leave that type of country to my levels unless other measures to reduce defi- payers would have much more of their salary cits are adopted. The exhibit below illus- children and grandchildren. withheld until any tax cuts could be made. At his 1796 farewell address, George Wash- trates that the fiscal balance in the coming decade would be considerably higher under While it is certainly possible to wait until Janu- ington admonished his fellow countrymen: ary, we still have a Democratic Senate, and a ‘‘We should avoid ungenerously throwing upon such a scenario, all other things being equal, and this would result in a worsening of the Democratic president who would likely veto a posterity the burden of which we ourselves government’s debt position. A package of op- clean tax bill. I too would prefer to see a com- ought to bear.’’ tions put forth by the fiscal commission at Enough is enough. I vote ‘‘no.’’ pletely clean bill, but that is not what we have the beginning of this month provides a menu been given. A vote against the bill before us [From Moody’s Weekly Credit Outlook, Dec. of such measures that would reverse these today would be a vote to raise taxes on all 13, 2010] trends, but their adoption remains uncer- US TAX PACKAGE IS NEGATIVE FOR US tain. Americans. CREDIT, BUT POSITIVE FOR ECONOMIC GROWTH Much of the debate about this bill only Mr. PAUL. Mr. Chair, I recently voted again serves to distract people from discussing sub- If the tax and unemployment-benefit pack- in favor of H.R. 4853, the Middle Class Tax age agreed to on 6 December by President stantive change and lead to argument about Obama and congressional Republican leaders Relief Act, legislation which ensures the con- picayune minutiae. I believe we should abolish becomes law, it will boost economic growth tinuation of the Bush-era tax cuts, fixes the the income tax and eliminate the IRS alto- in the next two years, but adversely affect AMT patch, and significantly reduces the bur- gether. Congress funded the government the federal government budget deficit and den of the estate tax in 2011. If no action had using excise taxes for more than 120 years debt level. From a credit perspective, the been taken by this Congress, all Americans without an income tax, and the Federal Gov- negative effects on government finance are would have had to pay higher income, divi- likely to outweigh the positive effects of ernment not surprisingly adhered much more dend, estate, and capital gains taxes begin- closely to the constitutionally-defined limits of higher economic growth. Unless there are ning on January 1, 2011. I will always vote to offsetting measures, the package will be its powers during that time. Real tax reform credit negative for the US and increase the lower taxes at all levels, and I will never vote can only happen when we insist on reducing likelihood of a negative outlook on the US for tax increases. the size of the Federal Government and re- government’s Aaa rating during the next two Many opponents of this bill labor under the ducing the pork in its bloated budget. years mistaken impression that it contains huge One motivation for the two-year extension Mr. FRELINGHUYSEN. Mr. Chair, I rise in amounts of pork, earmarks, and other spend- support of the Tax Relief Act of 2010 and urge of the current personal income tax rates (put ing. What they are referring to is hundreds of in place in 2001 and 2003 and referred to as its passage. the ‘‘Bush tax cuts’’) is to prevent a setback billions of dollars worth of tax credits. Tax My Colleagues, the goal of this legislation is to economic and employment growth that credits are not spending, they are not ear- to prevent the imposition of the largest tax in- would result from higher taxes beginning on marks, they are not pork: they merely allow crease in the history of the world and to con- 1 January, the expiration date of the earlier people to keep more of their own money. tinue many valuable tax provisions that pro- tax cuts. Keeping the existing tax rates While the Administration’s desire in extending mote economic growth. would not provide an impetus to growth, but these particular credits may be to placate cer- These goals are my goals. There Is never a raising them would have a negative effect. tain constituencies or to spur consumption or However, the package also includes, among good time to raise taxes, but I cannot think of other things, an extension of unemployment investment into certain sectors of the econ- a worse time to increase the tax burden on benefits for the long-term unemployed omy, the morally correct position is to allow America’s hard-working families and job-cre- through 2011 and a two-percentage-point cut people to keep their hard-earned money. That ating small businesses than in the middle of a in the Social Security payroll tax. The latter money belongs to the people and businesses weak recovery. two measures will give a boost to economic who earned it, not to the government. If one Like all Members, I have strongly supported and employment growth in the coming two wants to make it more equitable, then the extending the Bush tax rates, enacted in 2001 years, with some forecasters significantly amount of tax credits should be increased to and 2003. raising their GDP growth numbers in 2011 include everyone. and 2012. Like some of my Colleagues, I have sup- Higher economic growth should have a Characterizing the tax cuts as fiscally irre- ported extending these lower tax rates for ev- positive effect on government revenues and sponsible, as other opponents of the bill have eryone and making that extension permanent. reduce payments related to unemployment. done, is equally misguided. Those who wish to That’s why I introduced H.R. 4270 which However, the magnitude of this positive ef- see this deal defeated because it ‘‘adds nearly would lock in these lower tax rates indefinitely. fect will be considerably less than the fore- $900 billion to the National Debt’’ are pun- The important legislation before us today in- gone revenue and increased benefit expendi- ishing taxpayers for the profligacy of the gov- ture, resulting in substantially higher budg- cludes many beneficial provisions. For exam- et deficits than would have otherwise been ernment. The National Debt is nearly $14 tril- ple, the agreement: the case. The Congressional Budget Office’s lion because of excessive spending, not be- Prevents tax increases on every American most recent estimate of the deficit for fiscal cause of tax cuts. Every dollar added to the who pays income taxes. year 2011 was $1.1 trillion, or 7% of GDP, as- National Debt is due to the government’s in- Eliminates job-killing tax increases on small suming no expiration of the tax cuts, and ability to rein in spending, not because Amer- businesses. $665 billion (4.2%) in fiscal year 2012. These ican taxpayers are paying too little of their sal- Provides relief from the estate tax for family deficits would raise the ratio of government aries to the Federal Government. This is why owned businesses. debt to GDP to 68.5% by the end of fiscal year 2012, compared with 61.6% two years I vote against all appropriations bills. Allowing Preserves the $1,000 per child tax credit earlier. taxes to rise and provide more money to the and marriage penalty relief. The net cost of the proposed package of federal government would only serve to further Blocks higher taxes on capital gains and tax-cut extensions, payroll-tax reductions, feed the beast that is devouring this country. dividends.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00060 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8581 Protects at least 21 million households, in- gains made in this country over the last ten I urge my colleagues to take action and vote cluding 1.6 million in New Jersey, from being years have gone to the wealthiest one per- to send this legislation to the President’s desk. hit by the Alternative Minimum Tax (AMT) in cent. And the top one percent now owns more Now is the time to act. We owe it to our con- 2010. financial wealth than the bottom 90 percent. stituents and to our nation not to let their taxes Provides a one-year payroll tax cut that is They clearly don’t need any more help to go up on New Year’s Day. worth $1,400 for the average New Jersey get ahead. Mr. WAXMAN. Mr. Chair, I will vote for this household. This $114 billion tax giveaway to the rich is tax package that is before us tonight. I must acknowledge that I am not pleased not an investment in our economy. While there is absolutely no reason to justify that this bill prevents a tax hike on higher in- Just look at what happened in the decade or defend the extension of the Bush tax cuts come Americans and small businessmen and that followed the passage of these cuts in for wealthy Americans, and the unconscion- women, which would have taken effect on 2001. able tax treatment of wealthy estates—both of New Year’s Day 2011, for only two years. Even if you exclude the beginning of the re- which were insisted upon by the Repub- Our economy does not run on temporary, cession, we saw the slowest economic growth licans—those egregious giveaways to those stop-gap half-measures. In order to invest and since World War 2: fewer jobs created, fewer who need or deserve it least are, in fact, more grow their companies for the future—creating businesses started, fewer dollars injected into than balanced by generous support for tens of private sector jobs and opportunities in the our economy. millions of households across the country. process—businesses of all sizes need predict- So where did all that money go? Into the I will vote for the Pomeroy amendment to ability in the tax code. They need certainty in bank accounts of the wealthiest few. When restore the estate tax to sensible levels. There order to plan their operations and workforce their taxes were cut, they banked three times is no justification for massive estate tax relief expansion. In order to spur job creation, all the as much money than before. More money was for the Nation’s 6,600 wealthiest families, at a tax rates should be extended as far as the eye stashed away rather than—as some would cost of $25 billion to America’s taxpayers. can see! have you believe—put into business expan- Despite continuing the Bush tax cuts for The non-partisan Congressional Budget Of- sion or job creation. those earning over $250,000 per year, and de- fice estimates that fully extending the 2001 That’s why the Congressional Budget Office spite the estate tax provisions, this initiative, and 2003 tax rates would add between ranked an extension of these tax breaks LAST forged by President Obama, does a lot of 600,000 and 1.4 million private sector jobs in among the options we have to help grow the good. 2011 and between 900,000 and 2.7 million economy and create jobs. We are extending unemployment insurance jobs in 2012. In addition, lower tax rates on There are things in this proposal that are for 13 more months. It is desperately needed capital gains and dividends will boost capital about survival, like an extension of unemploy- by those who simply cannot find jobs after investment and spur economic growth. ment insurance to help the families hit hardest being out of work for months. I also have strong reservations about some by this recession. There are investments, like We are providing continued income tax rate of the spending included in this bill and some the tax credits that will help small businesses relief for two years for the middle class. of the so-called tax extensions. expand. The payroll tax holiday is an enormously For example, the package extends the fed- But unfortunately—and ultimately—the long- progressive reform at a time when it is most eral Unemployment insurance (UI) Program term costs of this bill are far more damaging needed to boost take home pay. for another 13 months and maintains the cur- to our nation than these short-term gains. The extension of the child tax credit and the rent cap of 99 weeks of total benefits. Borrowing money to give tax cuts to the tuition tax credit in particular will greatly assist I understand that people need a helping rich—tax cuts that are more than most families income security for American families. The hand and strongly support aiding unemployed make in a year—is unconscionable. green energy tax provisions will help create Americans. However, the President has in- Economics shows this is a dead-end. His- jobs and promote clean energy technology. sisted that the cost of extending benefits be tory proves it would be disastrous. And basic The bottom line is: This economy needs added to the country’s $14 trillion debt. We morality dictates that our priorities should more jobs. We need to get unemployment can do better than this. The fact is that we focus on making our economy work for EV- down and growth up. Working Americans CAN help the long-term unemployed AND pay ERYONE—not just the wealthy few. need more cash in their pockets. The econ- for it. I urge my colleagues to join me in standing omy needs a major jolt to go forward. Likewise, we should object to certain so- against this proposal and its unacceptable This package delivers on these urgent called ‘‘tax extenders’’ such as the renewed price and yield back the remainder of my time. needs. subsidies for the production and use of corn Mr. BISHOP of Georgia. Mr. Chair, our While I take no pride in any vote to give un- ethanol. For yet another year, $6 billion will be economy is still very weak: over 75 percent of earned financial rewards to the very wealthiest extracted from U.S. taxpayers to prop up the American workers are living paycheck-to-pay- among us, I cannot in good conscience be struggling ethanol industry while diverting valu- check. The unemployment rate stands at 9.8 party to legislative deadlock that means only able corn supplies from other worthwhile uses. percent, and over eight million Americans are one thing: millions of people cut off from un- Despite these and other reasons, I will sup- subsisting on unemployment insurance bene- employment insurance before Christmas, and port this bipartisan agreement. I recognize that fits while they search for work. In Georgia a big tax hit on the middle class and working a ‘‘no’’ vote on this bill represents a ‘‘no’’ vote alone, the unemployment rate is over 10 per- Americans as the new year begins. If we do on the U.S. economy. cent. 67,000 additional Georgians filed for un- not act, they will suffer grievously. That must It would be nothing short of a disaster to employment insurance last month. Despite not be permitted to happen. allow the largest tax increase in U.S. history to these sobering numbers, our nation is on a I must point out that the fact that the tax crush American families and small business in dangerous path toward the largest tax in- cuts last only two years and will not be perma- two short weeks. crease in over a decade if we do not approve nently extended is a major plus for me. When Mr. Chair, the larger debate surrounding ex- this vital legislation before us today. our economy recovers, our high priority to re- tension of the lower Bush tax rates under- We must not let this happen. We must duce the deficit will require us to both cut scores the need for Congress to act decisively change course. Our nation’s workers, retirees, spending and raise revenues. I am pleased in the New Year to support private sector job businesses, and job-seekers simply cannot af- the President has pledged that he will not fur- creation, reduce government spending, lower ford the crushing burden of new taxes in to- ther extend or make permanent the upper in- our dangerous public debt and enact perma- day’s economy. Raising taxes in this economic come tax cuts. nent tax reform. environment would stifle investment, slow I support the President’s proposals, and Mr. YARMUTH. Mr. Chair, when most peo- down job creation, and put severe financial urge my colleagues to join in supporting this ple borrow money—and go into debt—it’s ei- strain on businesses and individuals. legislation. ther for survival or for an investment that will This bipartisan legislation confronts this re- Mr. VISCLOSKY. Mr. Chair, I rise in strong pay off in the future. ality. It temporarily continues the Bush Tax opposition to H.R 4853, legislation based on Borrowing $114 billion from China to give Cuts for the benefit of all Americans. It pro- the agreement between the White House and massive tax breaks to the wealthiest Ameri- vides a desperately needed extension of un- Congressional Republican leaders that calls cans meets neither of those goals. employment insurance benefits. It reduces the for borrowing nearly $1 trillion over the next Over the last ten years, while economic crushing burden of the estate tax on our na- two years. growth has stalled and middle class wages tion’s family farms and businesses. And it puts Further, I am appalled that the unemployed have stagnated, the wealthy have been doing money back into the paychecks of America’s are being held hostage in order to ram the just fine. In fact, two-thirds of all the income workers. flawed measure through Congress. And I have

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00061 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8582 CONGRESSIONAL RECORD — HOUSE December 16, 2010 yet to find the equity in extending tax cuts for rich, this bill reduces the estate tax from 55 percent of Americans for two years but ex- 24 months, but the solvency of the unemploy- percent to 35 percent next year. This second tending unemployment insurance for only 13 ment fund for 13 months. bailout will give a gigantic tax giveaway to a months. This greatly frustrates me, and I be- I oppose borrowing nearly 1 trillion over the few thousand of the richest families in the lieve we must do more to help working fami- next two years when we have a debt today of country and add hundreds of billions to the na- lies. Equally distressing is the fact that this $13.8 trillion. tional debt. lop-sided agreement hides another, more in- I oppose borrowing nearly $1 trillion over I was also dismayed an increase to the debt sidious provision that could promise to do fu- the next two years when our projected deficit ceiling was not included in today’s proposal. ture violence to the federal program upon for Fiscal Year 2011 is $1.1 trillion. Congress will have to vote to increase the which millions of senior citizens in this country I oppose borrowing nearly $1 trillion over debt ceiling next year. Many in this body rely for their very existence, namely Social Se- the next two years when we will pay $438 bil- would like to hold the debt ceiling vote hos- curity. lion in interest on the national debt this year tage and demand massive spending cuts and I am somewhat comforted, however, that alone. I can’t imagine what this figure will look or make the Bush tax cuts permanent in ex- H.R. 4853 clearly mandates the shortfall in like when interest rates inevitably head higher. change for their votes. We need to show the revenue to the Social Security Trust Fund I oppose borrowing nearly $1 trillion over American people that tax cuts for the wealthy caused by the bill’s one-year payroll tax holi- the next two years for an agreement that fun- are not free and that they add huge amounts day be made whole with a transfer from the damentally weakens Social Security through a to the national debt. Treasury’s General Fund. This measure is de- payroll tax ‘‘holiday.’’ The holiday means we Just a few weeks ago, this chamber voted signed ostensibly to provide Americans with will be paying less money than anticipated into separately to extend both middle class tax more take-home pay to spend or save as they Social Security, thus reducing its solvency. In cuts and unemployment benefits to those who see fit, but it earns only my hesitant backing fairness, we’re told that the government will lost their jobs through no fault of their own. for fear that Republicans will attempt to make ‘‘find’’ the money to make up the loss. Where? While I agree that we need to protect the most this provision permanent when it expires next But what’s the big deal if this is only tem- vulnerable, the unemployed and working fami- year. Such a move can only be seen as the porary? If the debate around the expiration of lies who need every cent during this time of first step leading to what my colleagues on the the Bush tax cuts has taught us anything, it is economic malaise, it is irresponsible to con- other side of the aisle want most: privatizing that, fair or not, a so-called ‘‘temporary’’ tax tinue Bush era tax rates for wealthy Ameri- Social Security. cut can be quickly re-characterized as an im- cans, which are neither justified nor needed, While I maintain my strong reservations pending tax hike. for the next two years. Furthermore, there is about portions of this tax package that benefit If Members of Congress and the President no empirical evidence that tax cuts for rich only the wealthiest two percent of all Ameri- do not have the intestinal fortitude to make have helped the economy in any tangible way. cans, my colleagues and I cannot in good thoughtful, tough, permanent decisions today, The Act will steal hundreds of billions of dol- conscience return to our districts without hav- do you think they will with Presidential and lars of needed revenue for America’s fiscal fu- ing secured an extension of unemployment Congressional elections looming next Decem- ture. benefits and existing tax rates for middle-class ber? I believe the decisions made this week This compromise bill also includes a two families so aggrieved by the current recession. will become permanent, fundamentally weak- percent employee-side payroll tax cut that I The good people of the 15th District need the ening our country. fear will weaken the Social Security trust fund. stability of assured unemployment benefits to I oppose borrowing nearly $1 trillion over Today’s proposal would deny over $120 billion help get them through this holiday season, the next two years because we have a des- each year to the Social Security fund and giving them time until they find stable employ- perate need for investment in our nation’s make it easier for conservatives to weaken ment. roads, bridges, ports, railroads, and water Social Security’s revenue streams in the fu- Now is one of the times when it is ultimately services. Just three months ago, the infra- ture. I support giving working Americans extra better for our government leaders to come to- structure in the state of Indiana received a cash in their pay check, but it should not be gether on common ground where it can be grade of D+ from the Indiana section of the taken away from the Social Security trust fund. found, instead of letting the perfect be the American Society of Civil Engineers in a report Last week, I stated that this tax compromise enemy of the good enough. In this case, the that identified a need for billions of dollars in was a fight for the heart and soul of the government is taking real action to stimulate safety and service upgrades. Next year, be- Democratic Party. Democrats have always the economy and help those desperately in cause of this agreement, we’ll be told we just stood for the workers, the disenfranchised, need. Democrats are making the choice to don’t have any money left to invest. and those who are denied the opportunity to protect millions of Americans struggling to Not all the provisions in this agreement are compete for the blessings of the American keep food on the table and keep the heat on bad. There are many good ones, including Dream because of their race, creed, religion, while searching hard for a job. According to making a decision about estate taxes. But or class. I fear that passage of this bill tonight the Center for American Progress, the tax deal they are not all of equal merit. better approach will tarnish this proud legacy of our party and would save or create 2.2 million jobs through would have been to examine each tax provi- cause the 98 percent of Americans without es- 2012. In Michigan, the importance of the un- sion and approve those that encouraged sav- tates or astronomical personal wealth to ques- employment extension cannot be overstated. ings and investment the most, then pay for tion which party will fight for them. If this bill In November 2011, almost 300,000 them, and make them permanent. passes, each and every member of this body Michiganders will lose their unemployment But no, let’s hold the unemployed hostage. should look themselves in the mirror and con- benefits without federal action. These are real Let’s borrow nearly $1 trillion over the next 2 sider what we have lost in the name of com- numbers, and this is real money that will have years. Let’s reduce the solvency of Social Se- promise. I encourage my colleagues to reject a positive impact on our economy at a time curity. Let’s further disinvest in our nation’s in- this flawed bill.’’ when it is desperately needed. tellectual and economic infrastructure. Mr. DINGELL. Mr. Chair, H.R. 4853 was ne- Absent a better choice, I will vote in favor of Robin Hood stole from the rich for others. gotiated in the dead of night, and I am out- H.R. 4853. I do so as Dean of this House and We’re stealing from our children for ourselves. raged by the take-it-or-leave tactics employed the proud son of a man who helped pass the My first grade teacher, Sister Marlene, would to ram this legislation through the House, no Social Security Act but demand my col- be ashamed. less in a lame-duck session. This is not how leagues’ sacred vow that this bill’s payroll tax I urge my colleagues to oppose this meas- good legislation is produced, and I am con- holiday never again be extended. To do so ure. vinced we will feel the repercussions of this for would be an indefensible assault on the eco- Mr. CONYERS. Mr. Chair, I regret that I years. nomic and social progress achieved by gen- must rise in opposition to the Middle Class In considering H.R. 4853, the Middle Class erations of working-class Americans. I assure Tax Relief Act of 2010. Today’s legislation is Tax Relief Act of 2010, members of the House you, Madam Speaker and my colleagues on fiscally irresponsible and recklessly extends of Representatives confront the tragic choice the other side of the aisle, I will do everything Bush era tax cuts for the rich, the millionaires of extending unemployment benefits and cur- in power to make sure Social Security is pro- and billionaires, and establishes an extremely rent middle-class tax rates at the price of tected from rascality and available for not only low estate tax rate. However, I am supportive enormous tax give-aways to millionaires and current recipients, but also their children and of efforts to extend unemployment benefits. fat cats on Wall Street. At a time when Amer- grandchildren. To add insult to injury, this bill includes not ican corporations are making record earnings Mr. BRALEY of Iowa. Mr. Chair, Americans one, but two bailouts for the ultra wealthy. In and giving million-dollar holiday bonuses, we spoke clearly on November second. Congress addition to extending income tax cuts for the are extending tax cuts for the wealthiest two must get serious about reducing the deficit

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00062 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8583 and become better stewards of their tax dol- a cash grant in lieu of either the production or and funds, for the several departments, agen- lars. After endless talk throughout this session investment tax credit. The Program was de- cies, corporations, and other organizational about fiscal responsibility, the looming threat signed to allow renewable energy projects to units of Government for fiscal year 2011, and for other purposes, namely: of a growing deficit and forcing America’s next continue while investor demands for tax cred- SEC. ll. (a) The amounts provided in the generation into crushing debt to China—a so- its lagged in a sluggish economy. Unfortu- appropriations Acts for fiscal year 2008 re- called tax deal has been produced. Today this nately, a one year extension is insufficient to ferred to in section 101 of division A of Pub- House will vote on a bill that will explode the ensure a steady stream of investment in re- lic Law 110–329 and under the authority and deficit by $858 billion dollars. newable energy projects and may stall the conditions provided in such Acts for projects While this package includes several pro- momentum we’ve built in creating a strong, or activities (including the costs of direct grams I have proudly supported, I cannot sup- green economy. loans and loan guarantees) that are not oth- port the underlying bill. As recently as last Further, the tax package fails to include the erwise provided for, that were conducted in week I voted to give every American a tax cut fiscal years 2008 and 2010, and for which ap- Advanced Energy Manufacturing Tax Credit propriations, funds, or other authority were by making the middle class tax cuts perma- from ARRA, a program that was immensely made available in such Acts. nent for the millions of American families, con- useful. The tax credit was created to expand (b) If the amount provided for a project or sumers and small business owners who drive domestic clean energy manufacturing. Amer- activity by subsection (a) would be higher our economy. I have consistently voted to ex- ica needs to rebuild its manufacturing base to than the amount provided in appropriation tend unemployment insurance to assist the compete in the global marketplace. The Manu- Acts for fiscal year 2010, such project or ac- families struggling in this difficult recession. I facturing Tax Credit is crucial to laying a foun- tivity shall be funded at the lower such have voted to extend the Earned Income Tax dation for the United States to be a leader in amount. SEC. ll. There is hereby enacted into law Credit and Child Tax Credit to assist our na- the clean energy manufacturing industry. the provisions of the following: tion’s low-income families who have a difficult The failure to extend these critical programs (1) The Department of Defense Appropria- enough time making ends meet as it is. I have will have negative economic impact across the tions Act, 2011, as reported in the 111th Con- consistently voted in for ethanol and biodiesel country and in my district in San Jose. As a gress by the Subcommittee on Defense of the tax credits that sustain the growth of our na- Member from Silicon Valley, I represent many Committee on Appropriations of the House tion’s renewable energy industry and support renewable energy and energy efficiency com- of Representatives. the jobs of thousands of my constituents in panies that are currently utilizing these credits (2) The Department of Homeland Security Iowa. to create jobs and stimulate the economy. By Appropriations Act, 2011, as reported in the Those were some of the good things in- 111th Congress by the Subcommittee on not including robust renewable energy pro- Homeland Security of the Committee on Ap- cluded in this deal. Unfortunately, the merits of grams as part of our tax policy, we are failing propriations of the House of Representatives. these good things do not outweigh the bad to invest in our economic future, and for that (3) The Military Construction and Veterans things in this deal. I cannot justify mortgaging reason, I am unable to vote for the Tax Relief, Affairs and Related Agencies Appropriations our children’s futures to provide a Christmas Unemployment Insurance Reauthorization and Act, 2011, as passed in the 111th Congress by bonanza to the privileged few. I refuse to sup- Job Creation Act of 2010. the House of Representatives. port increasing the deficit by at least $81 bil- Mr. JORDAN of Ohio. Mr. Chair, despite the SEC. ll. Appropriations made by section lion to provide a tax break to the wealthiest clear message sent by the American people in ll shall be available to the extent and in the manner that would be provided by the persons in this country. I refuse to support a November, the Obama Administration and the pertinent appropriations Act. bill that would balloon the deficit by $23 billion Pelosi Congress continue to borrow and SEC. ll. Unless otherwise provided for in to provide an average tax break of more than spend like there is no tomorrow. the applicable appropriations Act, appropria- $1.5 million to only 6,600 families a year. And In another attempt to bring some fiscal re- tions and funds made available and author- I unequivocally refuse to threaten the long- sponsibility back to this Congress, I submitted ity granted pursuant to this joint resolution term viability of social security with a shell an amendment yesterday in the House Rules shall be available through September 30, game to pay for diminished social security Committee that would seek $149 billion in cuts 2011. contributions. SEC. ll. For entitlements and other man- to offset the $95 billion in new spending in datory payments whose budget authority I’m voting ‘‘no’’ on this bad deal because we H.R. 4853, the so-called Middle Class Tax Re- was provided in appropriations Acts for fis- cannot keep kicking the can down the road lief Act of 2010. cal year 2010, and for activities under the when it comes to difficult decisions about the While I am glad to see this bill temporarily Food and Nutrition Act of 2008, activities deficit, especially with a package that threat- stop the Democrats from raising the income shall be continued at the rate to maintain ens the financial stability of our nation. I urge tax rates of every American, I am disappointed program levels under current law, under the my colleagues to join me in voting ‘‘no.’’ that it includes a massive increase in the es- authority and conditions provided in the ap- Ms. ZOE LOFGREN of California. Mr. Chair, tate tax that will hurt the families, farmers and plicable appropriations Act for fiscal year 2010, to be continued through the date speci- I rise today to express my concerns regarding small business owners in my district and the Tax Relief, Unemployment Insurance Re- fied in section 104. across America. SEC. ll. Funds appropriated by this joint authorization and Job Creation Act of 2010. I am further disappointed that the new resolution may be obligated and expended The American economy is slowly recovering spending in this bill will add to the deficit, fur- notwithstanding section 10 of Public Law 91– from the worst recession we’ve seen since the ther burdening our children and grandchildren 672 (22 U.S.C. 2412), section 15 of the State Great Depression. While there has been some with debt that must be repaid. We cannot con- Department Basic Authorities Act of 1956 (22 improvement, the economy is still fragile, and tinue to grow our debt and by loading well-in- U.S.C. 2680), section 313 of the Foreign Rela- we need to ensure that our tax policy for the tentioned bills with billions of extra dollars in tions Authorization Act, Fiscal Years 1994 near future supports job growth if we are to and 1995 (22 U.S.C. 6212), and section 504(a)(1) borrowing and spending. of the National Security Act of 1947 (50 continue on this path of recovery. My amendment would do what the Amer- Unfortunately, the tax package that the Sen- U.S.C. 414(a)(1)). ican people are demanding we do: stop the SEC. ll. None of the funds made available ate has sent us today does not support the out-of-control federal spending! By returning in this joint resolution may be used to carry creation of new jobs. non-defense appropriations spending to FY out any program under, promulgate any reg- The United States is quickly being sur- 2008 levels, we will realize an immediate sav- ulation pursuant to, or defend against any passed by other countries in infrastructure and ings of $80 billion. By repealing the remaining lawsuit challenging any provision of, Public clean energy investments. Rather than sup- stimulus funds, we save another $69 billion. Law 111–148 or Public Law 111–152 or any amendment made by either such Public Law. porting tax policies to reverse this trend, the Tacking more spending on to bills is a hall- SEC. ll. None of the funds made available Senate’s tax package focuses on tax cuts for mark of Washington politics. It has landed us the wealthiest in our population and old en- in this joint resolution may be used for a in record-high debt. We must break away from congressional earmark as defined in clause ergy sources that do not present great possi- this trap with a commitment to passing clean 9(e) of rule XXI of the Rules of the House of bilities for our future. bills and eliminating excess waste. Representatives. While the American Recovery and Reinvest- Add at the end of the bill the following: Further, add at the end of the bill the fol- ment Act (ARRA) made important strides in TITLE ll—APPROPRIATIONS AT LOWER lowing: closing that gap, this legislation is a step back- PREVIOUS FISCAL YEAR LEVELS TITLE ll—ARRA RESCISSION AND wards. The Senate’s tax package includes a That the following sums are hereby appro- REPEALS one year extension of the Treasury Grant Pro- priated, out of any money in the Treasury SEC. ll. ARRA RESCISSION AND REPEALS. gram enacted in section 1603 of ARRA that not otherwise appropriated, and out of appli- (a) RESCISSION.—Of the discretionary ap- allows renewable energy companies to receive cable corporate or other revenues, receipts, propriations made available in division A of

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Tax Credit made by the Recovery Act also to stand up for future generations by allowing (b) REPEALS.—Subtitles B and C of title II and titles III through VII of division B of the makes sense and will help many families. expensive tax cuts that benefit only the American Recovery and Reinvestment Act of A payroll tax holiday will put money into the wealthiest while doing nothing to stimulate the 2009 (Public Law 111–5) are repealed. pockets of people who need it most, but I economy to expire on schedule, so that we Mr. STARK. Mr. Chair, I rise today to op- worry what this will mean for the future of So- can finally get back on track toward a bal- pose H.R. 4853, the Tax Relief, Unemploy- cial Security. The provision also unfairly anced budget. ment Insurance Reauthorization, and Job Cre- leaves out thousands of federal workers and Two weeks ago, this House approved, with my strong support, a bill that would have done ation Act of 2010. teachers in my state of California. It is sad that Santa Claus is arriving early for a handful of we have to hand out several hundred billion all of these things. This earlier version of the wealthy individuals and industries this year. dollars worth of benefits for millionaires just to legislation before us today would have given Wall Street should be throwing a parade find the votes to help working families make all American families a permanent tax cut on today. They can certainly afford one after the ends meet. the first $250,000 of their income, including President failed to uphold one of his signature Two weeks ago I voted for the Middle Class capital gains and dividends; it would have ex- campaign promises of letting tax breaks for Tax Relief Act of 2010 that would have ex- tended AMT relief, the enhanced EITC, and the rich expire as planned. tended tax cuts for middle class Americans. I the enhanced child tax credit; and it would We hear a lot of hand wringing about the also voted to extend Unemployment Benefits have maintained critical expensing provisions deficit, but this ‘‘compromise’’ extends all of for working people. Those are the bills we to encourage small businesses to invest. Sim- the Bush tax cuts for the next 2 years, adding should be sending to the President. But the ply put, this bill would have provided tax relief hundreds of billions to the deficit so that mil- legislation before us today is a colossus, bury- to those who need it most, and with the max- lionaires won’t have to pay their fair share of ing those benefits for Americans struggling to imum economic impact. Yet our Republican taxes. It also includes billions of deficit fi- keep a roof over their heads underneath bil- colleagues dismissed it as a ‘‘symbolic’’ vote. nanced tax favors to special interests. No one lions in blatant handouts to the wealthiest tax- Since then, the measure has been amended substantially to reflect the negotiations that who votes for this package has any credibility payers. I urge my colleagues to defeat this have occurred between the White House and left when talking about the deficit. legislation. This bill is skewed toward the very wealthy. Mr. PRICE of North Carolina. Mr. Chair, I Congressional leaders. The result is a much According to the Tax Policy Center, the big- rise in qualified support of this tax cut agree- more expansive package that has many posi- gest share of the tax cuts will go to the richest ment. I do so only after carefully weighing its tive elements but also major negative ones. It families, many with incomes of several million positive elements against its severe flaws and is also an expensive package, adding over dollars. Households in the top 1 percent of in- with a realistic sense of the dire con- $850 billion to the deficit over the next dec- come will see an average tax break that is sequences should the measure fail. ade. This cost is only justifiable to the extent that the legislation is both effective as an eco- higher than the annual income of nearly 80 This conclusion says as much about the nomic stimulus and equitable in its benefits, percent of American families. The distribution gamesmanship of our colleagues on the other and each of its provisions should be subjected of the tax savings is disproportionate and just side of the aisle—and, I’m afraid, about what to these criteria. unfair. The wealthiest 20 percent of taxpayers we can expect in the next Congress—as it does about the contents of the legislation. No On the positive side, the measure will ex- are going to get 60 percent of the tax savings tend unemployment insurance through the end program or priority has been too sacred for from this extension. of next year. This is both a moral obligation The handouts to the ultra-rich will follow House and Senate Republicans to hold hos- and a sound economic decision: there is per- them to the grave. Thousands of millionaires tage in their fervor to extend President Bush’s haps no greater return on our investment in will now be able to die with the confidence tax cuts for the wealthiest Americans, regard- the short run than to ensure that Americans that their assets will not be impacted by the less of how many hard-working families have who have lost their jobs and cannot find an- had to suffer in the process. Programs that estate tax. Without Congressional action, the other one can continue to make ends meet. At have always enjoyed strong bipartisan sup- 44,000 wealthiest families would have paid the the same time, they put almost all of this port—such as unemployment insurance and estate tax in 2011. Now that the administration money back into the economy, maintaining ag- small business tax credits—have suddenly be- has agreed to the most generous estate tax gregate demand for goods and services—in plan in recent history—a $5 million exemption come ‘‘Democratic’’ priorities, fair game to be stark contrast to tax cuts for the wealthy. and 35 percent rate—only the wealthiest 3,600 stonewalled by Republicans until they could The agreement maintains the historically low estates are expected to pay the estate tax in squeeze every last concession out of this tax rates that lower- and middle-income Amer- 2011. The theme here is clear: the rich will deal. icans have enjoyed for the past decade for 2 continue to hold more and more wealth and The disconnect between what they say and more years. While doing so will not be cheap, power in this country while the middle class is what they do should be painfully obvious to we cannot afford to raise taxes on working warned that it will have to accept cuts to So- the American people. How does their support families during the current downturn, and the cial Security and Medicare in order to balance for tax cuts for millionaires and billionaires stimulative impact of these extensions will be the budget. square with their stated priorities of balancing significant. It also extends several tax credits Every business interest imaginable will get the budget and growing the economy? Spend- targeted directly at lower- and middle-income their piece of the pie. The corn ethanol indus- ing $130 billion over the next 2 years alone on Americans, including the refundable child tax try, which is already guaranteed a robust mar- tax cuts for the richest 2 percent of Ameri- credit, the enhanced Earned Income Tax ket by the federal government, will continue to cans—without paying for a cent of it—is cer- Credit, and important credits or deductions for be showered with subsidies to the tune of $6 tainly a strange way to demonstrate their fiscal child care, education, and other essential serv- billion a year. You would be mistaken if you discipline. And it’s also the least effective step ices. The fact that the child tax credit is re- think this handout helps farmers. It is actually we can take to spur the economy. If economic fundable for low-income people whose income paid to the oil companies that blend the eth- recovery were really the goal, they would have tax liability is limited will provide a particularly anol—BP claimed over $500 million from the extended unemployment insurance the first important boost to them and to our economic credit in 2008 alone. And the list goes on. chance they had, because nothing plows recovery. Owners of NASCAR speedways will be able to money back into the economy more effec- In addition, the package offers critical relief accelerate their tax write-offs faster than other tively. to small businesses, including an extension of businesses, rum makers will get an extension If this is where the Republican Party’s true the bonus depreciation provision included in of tariff rebates and Hollywood studios will get priorities lie, then I have never been prouder the Recovery Act, a 2-year extension of the tax breaks when they produce movies and tel- to be a Democrat. I have never been prouder Research and Development tax credit so crit- evision shows. to stand up for hard-working Americans who ical to the Research Triangle, and several im- There are good things for working families have lost their jobs and cannot find a new one portant renewable energy incentives. These in this agreement, but they pale in comparison by assuring them that their unemployment in- and other provisions will provide business to the gifts to the upper class. Extended Un- surance will not expire. I have never been owners with the stability and support they employment Insurance benefits will be contin- prouder to stand up for middle-class families need to expand their operations, hire new ued for 13 months and spare millions of Amer- who have seen their savings depleted and workers, and continue the economic recovery. icans from losing their income, allowing them cannot afford to have their taxes raised during Finally, the legislation includes a payroll tax to keep food on their tables and a roof over an economic downturn. To stand up for small holiday that will result in a lower tax burden for

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00064 Fmt 4634 Sfmt 9920 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8585 all American workers next year. Some re- gratuitous estate tax provision, and last week In lieu of the matter proposed to be spected advocates, in North Carolina and I voted for the House’s middle class tax cut inserted, insert the following: elsewhere, have argued that this provision package which omitted these giveaways. I SECTION 1. SHORT TITLE; ETC. could in fact hurt lower-income workers, com- have also signed several letters arguing for a (a) SHORT TITLE.—This Act may be cited as pared to the Making Work Pay tax credit that more sensible package of energy incentives in the ‘‘Tax Relief, Unemployment Insurance Re- expires this year. Some have also claimed the legislation, including a reduction of the eth- authorization, and Job Creation Act of 2010’’. that this provision would threaten Social Secu- anol credit that was added by the Senate at (b) AMENDMENT OF 1986 CODE.—Except as oth- erwise expressly provided, whenever in this Act rity by temporarily reducing payments to the the last minute. I was a strong supporter of an amendment or repeal is expressed in terms of Social Security trust fund. the 2009 estate tax compromise offered by an amendment to, or repeal of, a section or To be clear, if I had my choice I would pre- Representative EARL POMEROY, which unfortu- other provision, the reference shall be consid- fer to be voting for an extension of Making nately failed to pass the Senate, and I will be ered to be made to a section or other provision Work Pay instead of a payroll tax holiday—but voting for it again tonight. of the Internal Revenue Code of 1986. that is not the choice we face today. The While I am deeply disappointed that these (c) TABLE OF CONTENTS.—The table of con- choice is between a payroll tax holiday and efforts have not been more successful, we are tents for this Act is as follows: nothing, and the simple fact is that if we do now called upon to evaluate this package as Sec. 1. Short title; etc. nothing, then lower-income workers will be it is, not as we would like it to be. The bottom TITLE I—TEMPORARY EXTENSION OF TAX much worse off than they are now: their in- line is that the positive impact of this package RELIEF come taxes will be higher; they will lose the for working- and middle-class Americans and Sec. 101. Temporary extension of 2001 tax relief. many other benefits this bill provides, such as our economic recovery outweighs its negative Sec. 102. Temporary extension of 2003 tax relief. Sec. 103. Temporary extension of 2009 tax relief. enhanced EITC; and they won’t receive any impact on the deficit and its unjust giveaways form of payroll tax relief. Moreover, because to the wealthy. TITLE II—TEMPORARY EXTENSION OF the benefits of a payroll tax holiday will be We must also consider the consequences of INDIVIDUAL AMT RELIEF more broadly shared, the stimulative impact of failing to enact this legislation today. Deferring Sec. 201. Temporary extension of increased al- a payroll tax holiday will be more broadly felt. action on these expiring tax provisions until ternative minimum tax exemption amount. And as for its impact on Social Security, both next year would not only create chaos for Sec. 202. Temporary extension of alternative the President and the AARP have assured us American taxpayers; it would also likely result minimum tax relief for nonrefund- that the diversion of funds will be both tem- in a package that is nowhere near as gen- able personal credits. porary and repaid in full. There are reasons to erous or as equitable, given the extreme views TITLE III—TEMPORARY ESTATE TAX be concerned about threats to Social Secu- of the incoming Republican majority on many RELIEF rity’s future, but this should not be one of of its provisions. Republicans leaders openly Sec. 301. Reinstatement of estate tax; repeal of them. state that their chief concern in the 112th Con- carryover basis. Now, these positive elements must be gress is not economic recovery, not putting Sec. 302. Modifications to estate, gift, and gen- weighed carefully against the major conces- Americans back to work, but ensuring Presi- eration-skipping transfer taxes. sions that were made to Republicans during dent Obama is a one-term President. While Sec. 303. Applicable exclusion amount increased the negotiations that produced this bill. I am by unused exclusion amount of their stated goals may be grossly misguided deceased spouse. referring, of course, to the extension of the and narrow, mine will not be. Scuttling this Sec. 304. Application of EGTRRA sunset to this Bush tax cuts on income over $250,000, package would mean foregoing what will likely title. which will add over $100 billion to the deficit be our last opportunity to provide any stimulus TITLE IV—TEMPORARY EXTENSION OF over the next 2 years while doing almost noth- to the economy, given that the Republicans INVESTMENT INCENTIVES ing to stimulate the economy. This is not sim- have made clear their opposition to additional Sec. 401. Extension of bonus depreciation; tem- ply my personal opinion or the view of the aid to states, infrastructure investments, and porary 100 percent expensing for Democratic Party: it is a fact confirmed by the other countercyclical programs. The need to certain business assets. Congressional Budget Office and any number maintain demand and stimulate growth has Sec. 402. Temporary extension of increased of respected economists, and well understood not fully abated—this economy is not yet out small business expensing. by the American people. As I have already of the woods. The question is not whether the TITLE V—TEMPORARY EXTENSION OF UN- stated, the fact that the Republican leadership package before us is the most effective one EMPLOYMENT INSURANCE AND RE- held this entire package hostage so that mil- conceivable—it is not—but whether we will do LATED MATTERS lionaires could get an average tax break of anything to keep the recovery going before the Sec. 501. Temporary extension of unemployment $100,000 per year tells us exactly where their insurance provisions. next Congress shuts the door entirely. Sec. 502. Temporary modification of indicators true priorities lie: Tax cuts for the wealthy are Under these circumstances, I support this under the extended benefit pro- clearly the ‘‘holy grail’’ of their economic pol- legislation despite its flaws. I cannot in good gram. icy, to which all other policy outcomes are conscience cast a ‘‘no’’ vote that, were it to Sec. 503. Technical amendment relating to col- subjugated. prevail, would expose working Americans to lection of unemployment com- I am equally disappointed by the inclusion of tax increases and end the EITC and child pensation debts. an estate tax proposal that is little more than credit provisions that have benefitted so many Sec. 504. Technical correction relating to repeal a gratuitous giveaway to some 6,600 wealthy people. I cannot in good conscience cast a of continued dumping and sub- families. We hear a lot of dire warnings about sidy offset. vote that would rip away the safety net for Sec. 505. Additional extended unemployment the impact of the estate tax on small farmers those not yet able to find work, and in the benefits under the Railroad Un- and business owners, but even to the extent process hobble an economic recovery. We employment Insurance Act. that they would be affected, the compromise risk all of these if this bill fails. Our good con- TITLE VI—TEMPORARY EMPLOYEE estate tax proposal passed by the House last science also causes us to question this bill’s PAYROLL TAX CUT December was more than sufficient to protect violations of tax fairness and fiscal prudence; Sec. 601. Temporary employee payroll tax cut. them. Now, we are considering a proposal that I have worked and will continue to work to TITLE VII—TEMPORARY EXTENSION OF costs $23 billion more than the 2009 proposal change these things. But tonight we must vote CERTAIN EXPIRING PROVISIONS and will have no economic impact at all aside while we have the chance to do so, and on Subtitle A—Energy from letting a few thousand millionaires and the only vehicle available to us, to protect the Sec. 701. Incentives for biodiesel and renewable billionaires keep even more of their inherited vast majority of our constituents and to bring diesel. wealth—an average windfall of $3.5 million per this economy back to health. Sec. 702. Credit for refined coal facilities. family. The Acting CHAIR. All time for gen- Sec. 703. New energy efficient home credit. As the details of these provisions have be- eral debate has expired. Sec. 704. Excise tax credits and outlay pay- come known, I have actively engaged in dis- Pursuant to the rule, the Senate ments for alternative fuel and al- cussions here and at home, doing everything amendment shall be considered for ternative fuel mixtures. within my power to oppose the inclusion of amendment under the 5-minute rule. Sec. 705. Special rule for sales or dispositions to giveaways to the wealthiest Americans in the The Clerk will designate the Senate implement FERC or State electric restructuring policy for qualified package. I have joined my colleagues in send- amendment. electric utilities. ing two separate letters to the House leader- The text of the amendment is as fol- Sec. 706. Suspension of limitation on percentage ship opposing the inclusion of upper-income lows: depletion for oil and gas from tax cuts and a third letter arguing against the Senate amendment: marginal wells.

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Sec. 707. Extension of grants for specified en- Sec. 753. Empowerment zone tax incentives. (c) EARNED INCOME TAX CREDIT.—Section ergy property in lieu of tax cred- Sec. 754. Tax incentives for investment in the 32(b)(3) is amended— its. District of Columbia. (1) by striking ‘‘2009 AND 2010’’ in the heading Sec. 708. Extension of provisions related to alco- Sec. 755. Temporary increase in limit on cover and inserting ‘‘2009, 2010, 2011, AND 2012’’, and hol used as fuel. over of rum excise taxes to Puerto (2) by striking ‘‘or 2010’’ and inserting ‘‘, 2010, Sec. 709. Energy efficient appliance credit. Rico and the Virgin Islands. 2011, or 2012’’. Sec. 710. Credit for nonbusiness energy prop- Sec. 756. American Samoa economic develop- (d) EFFECTIVE DATE.—The amendments made erty. ment credit. by this section shall apply to taxable years be- Sec. 711. Alternative fuel vehicle refueling prop- Sec. 757. Work opportunity credit. ginning after December 31, 2010. erty. Sec. 758. Qualified zone academy bonds. TITLE II—TEMPORARY EXTENSION OF Subtitle B—Individual Tax Relief Sec. 759. Mortgage insurance premiums. INDIVIDUAL AMT RELIEF Sec. 760. Temporary exclusion of 100 percent of Sec. 721. Deduction for certain expenses of ele- SEC. 201. TEMPORARY EXTENSION OF INCREASED mentary and secondary school gain on certain small business ALTERNATIVE MINIMUM TAX EXEMP- teachers. stock. TION AMOUNT. Sec. 722. Deduction of State and local sales Subtitle D—Temporary Disaster Relief (a) IN GENERAL.—Paragraph (1) of section taxes. Provisions 55(d) is amended— Sec. 723. Contributions of capital gain real SUBPART A—NEW YORK LIBERTY ZONE (1) by striking ‘‘$70,950’’ and all that follows property made for conservation Sec. 761. Tax-exempt bond financing. through ‘‘2009’’ in subparagraph (A) and insert- purposes. ing ‘‘$72,450 in the case of taxable years begin- Sec. 724. Above-the-line deduction for qualified SUBPART B—GO ZONE ning in 2010 and $74,450 in the case of taxable tuition and related expenses. Sec. 762. Increase in rehabilitation credit. years beginning in 2011’’, and Sec. 725. Tax-free distributions from individual Sec. 763. Low-income housing credit rules for (2) by striking ‘‘$46,700’’ and all that follows retirement plans for charitable buildings in GO zones. through ‘‘2009’’ in subparagraph (B) and insert- purposes. Sec. 764. Tax-exempt bond financing. ing ‘‘$47,450 in the case of taxable years begin- Sec. 726. Look-thru of certain regulated invest- Sec. 765. Bonus depreciation deduction applica- ning in 2010 and $48,450 in the case of taxable ment company stock in deter- ble to the GO Zone. years beginning in 2011’’. mining gross estate of non- TITLE VIII—BUDGETARY PROVISIONS (b) EFFECTIVE DATE.—The amendments made residents. by this section shall apply to taxable years be- Sec. 727. Parity for exclusion from income for Sec. 801. Determination of budgetary effects. Sec. 802. Emergency designations. ginning after December 31, 2009. employer-provided mass transit (c) REPEAL OF EGTRRA SUNSET.—Title IX of and parking benefits. TITLE I—TEMPORARY EXTENSION OF TAX the Economic Growth and Tax Relief Reconcili- Sec. 728. Refunds disregarded in the adminis- RELIEF ation Act of 2001 (relating to sunset of provi- tration of Federal programs and SEC. 101. TEMPORARY EXTENSION OF 2001 TAX sions of such Act) shall not apply to title VII of federally assisted programs. RELIEF. such Act (relating to alternative minimum tax). Subtitle C—Business Tax Relief (a) TEMPORARY EXTENSION.— SEC. 202. TEMPORARY EXTENSION OF ALTER- Sec. 731. Research credit. (1) IN GENERAL.—Section 901 of the Economic NATIVE MINIMUM TAX RELIEF FOR Sec. 732. Indian employment tax credit. Growth and Tax Relief Reconciliation Act of NONREFUNDABLE PERSONAL CRED- Sec. 733. New markets tax credit. 2001 is amended by striking ‘‘December 31, 2010’’ ITS. Sec. 734. Railroad track maintenance credit. both places it appears and inserting ‘‘December (a) IN GENERAL.—Paragraph (2) of section Sec. 735. Mine rescue team training credit. 31, 2012’’. 26(a) is amended— Sec. 736. Employer wage credit for employees (2) EFFECTIVE DATE.—The amendment made (1) by striking ‘‘or 2009’’ and inserting ‘‘2009, who are active duty members of by this subsection shall take effect as if included 2010, or 2011’’, and the uniformed services. in the enactment of the Economic Growth and (2) by striking ‘‘2009’’ in the heading thereof Sec. 737. 15-year straight-line cost recovery for Tax Relief Reconciliation Act of 2001. and inserting ‘‘2011’’. qualified leasehold improvements, (b) SEPARATE SUNSET FOR EXPANSION OF (b) EFFECTIVE DATE.—The amendments made qualified restaurant buildings and ADOPTION BENEFITS UNDER THE PATIENT PRO- by this section shall apply to taxable years be- improvements, and qualified retail TECTION AND AFFORDABLE CARE ACT.— ginning after December 31, 2009. improvements. (1) IN GENERAL.—Subsection (c) of section TITLE III—TEMPORARY ESTATE TAX Sec. 738. 7-year recovery period for motorsports 10909 of the Patient Protection and Affordable RELIEF entertainment complexes. Care Act is amended to read as follows: SEC. 301. REINSTATEMENT OF ESTATE TAX; RE- Sec. 739. Accelerated depreciation for business ‘‘(c) SUNSET PROVISION.—Each provision of PEAL OF CARRYOVER BASIS. property on an Indian reserva- law amended by this section is amended to read (a) IN GENERAL.—Each provision of law tion. as such provision would read if this section had amended by subtitle A or E of title V of the Eco- Sec. 740. Enhanced charitable deduction for never been enacted. The amendments made by nomic Growth and Tax Relief Reconciliation Act contributions of food inventory. the preceding sentence shall apply to taxable of 2001 is amended to read as such provision Sec. 741. Enhanced charitable deduction for years beginning after December 31, 2011.’’. would read if such subtitle had never been en- contributions of book inventories (2) CONFORMING AMENDMENT.—Subsection (d) acted. to public schools. of section 10909 of such Act is amended by strik- Sec. 742. Enhanced charitable deduction for (b) CONFORMING AMENDMENT.—On and after ing ‘‘The amendments’’ and inserting ‘‘Except January 1, 2011, paragraph (1) of section 2505(a) corporate contributions of com- as provided in subsection (c), the amendments’’. puter inventory for educational of the Internal Revenue Code of 1986 is amended SEC. 102. TEMPORARY EXTENSION OF 2003 TAX to read as such paragraph would read if section purposes. RELIEF. Sec. 743. Election to expense mine safety equip- 521(b)(2) of the Economic Growth and Tax Relief (a) IN GENERAL.—Section 303 of the Jobs and ment. Reconciliation Act of 2001 had never been en- Growth Tax Relief Reconciliation Act of 2003 is Sec. 744. Special expensing rules for certain film acted. amended by striking ‘‘December 31, 2010’’ and and television productions. (c) SPECIAL ELECTION WITH RESPECT TO ES- Sec. 745. Expensing of environmental remedi- inserting ‘‘December 31, 2012’’. TATES OF DECEDENTS DYING IN 2010.—Notwith- ation costs. (b) EFFECTIVE DATE.—The amendment made standing subsection (a), in the case of an estate Sec. 746. Deduction allowable with respect to by this section shall take effect as if included in of a decedent dying after December 31, 2009, and income attributable to domestic the enactment of the Jobs and Growth Tax Re- before January 1, 2011, the executor (within the production activities in Puerto lief Reconciliation Act of 2003. meaning of section 2203 of the Internal Revenue Rico. SEC. 103. TEMPORARY EXTENSION OF 2009 TAX Code of 1986) may elect to apply such Code as Sec. 747. Modification of tax treatment of cer- RELIEF. though the amendments made by subsection (a) tain payments to controlling ex- (a) AMERICAN OPPORTUNITY TAX CREDIT.— do not apply with respect to chapter 11 of such empt organizations. (1) IN GENERAL.—Section 25A(i) is amended by Code and with respect to property acquired or Sec. 748. Treatment of certain dividends of reg- striking ‘‘or 2010’’ and inserting ‘‘, 2010, 2011, or passing from such decedent (within the meaning ulated investment companies. 2012’’. of section 1014(b) of such Code). Such election Sec. 749. RIC qualified investment entity treat- (2) TREATMENT OF POSSESSIONS.—Section shall be made at such time and in such manner ment under FIRPTA. 1004(c)(1) of the American Recovery and Rein- as the Secretary of the Treasury or the Sec- Sec. 750. Exceptions for active financing in- vestment Tax Act of 2009 is amended by striking retary’s delegate shall provide. Such an election come. ‘‘and 2010’’ each place it appears and inserting once made shall be revocable only with the con- Sec. 751. Look-thru treatment of payments be- ‘‘, 2010, 2011, and 2012’’. sent of the Secretary of the Treasury or the Sec- tween related controlled foreign (b) CHILD TAX CREDIT.—Section 24(d)(4) is retary’s delegate. For purposes of section corporations under foreign per- amended— 2652(a)(1) of such Code, the determination of sonal holding company rules. (1) by striking ‘‘2009 AND 2010’’ in the heading whether any property is subject to the tax im- Sec. 752. Basis adjustment to stock of S corps and inserting ‘‘2009, 2010, 2011, AND 2012’’, and posed by such chapter 11 shall be made without making charitable contributions (2) by striking ‘‘or 2010’’ and inserting ‘‘, 2010, regard to any election made under this sub- of property. 2011, or 2012’’. section.

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(d) EXTENSION OF TIME FOR PERFORMING CER- 2502 is amended to read as such subsection ‘deceased spousal unused exclusion amount’ TAIN ACTS.— would read if section 511(d) of the Economic means the lesser of— (1) ESTATE TAX.—In the case of the estate of Growth and Tax Relief Reconciliation Act of ‘‘(A) the basic exclusion amount, or a decedent dying after December 31, 2009, and 2001 had never been enacted. ‘‘(B) the excess of— before the date of the enactment of this Act, the (c) MODIFICATION OF GENERATION-SKIPPING ‘‘(i) the basic exclusion amount of the last due date for— TRANSFER TAX.—In the case of any generation- such deceased spouse of such surviving spouse, (A) filing any return under section 6018 of the skipping transfer made after December 31, 2009, over Internal Revenue Code of 1986 (including any and before January 1, 2011, the applicable rate ‘‘(ii) the amount with respect to which the election required to be made on such a return) determined under section 2641(a) of the Internal tentative tax is determined under section as such section is in effect after the date of the Revenue Code of 1986 shall be zero. 2001(b)(1) on the estate of such deceased spouse. enactment of this Act without regard to any (d) MODIFICATIONS OF ESTATE AND GIFT ‘‘(5) SPECIAL RULES.— election under subsection (c), TAXES TO REFLECT DIFFERENCES IN CREDIT RE- ‘‘(A) ELECTION REQUIRED.—A deceased spous- (B) making any payment of tax under chapter SULTING FROM DIFFERENT TAX RATES.— al unused exclusion amount may not be taken 11 of such Code, and (1) ESTATE TAX.— into account by a surviving spouse under para- (C) making any disclaimer described in section (A) IN GENERAL.—Section 2001(b)(2) is amend- graph (2) unless the executor of the estate of the 2518(b) of such Code of an interest in property ed by striking ‘‘if the provisions of subsection (c) deceased spouse files an estate tax return on passing by reason of the death of such decedent, (as in effect at the decedent’s death)’’ and in- which such amount is computed and makes an shall not be earlier than the date which is 9 serting ‘‘if the modifications described in sub- election on such return that such amount may months after the date of the enactment of this section (g)’’. be so taken into account. Such election, once Act. (B) MODIFICATIONS.—Section 2001 is amended made, shall be irrevocable. No election may be (2) GENERATION-SKIPPING TAX.—In the case of by adding at the end the following new sub- made under this subparagraph if such return is any generation-skipping transfer made after De- section: filed after the time prescribed by law (including cember 31, 2009, and before the date of the en- ‘‘(g) MODIFICATIONS TO GIFT TAX PAYABLE TO extensions) for filing such return. actment of this Act, the due date for filing any REFLECT DIFFERENT TAX RATES.—For purposes ‘‘(B) EXAMINATION OF PRIOR RETURNS AFTER return under section 2662 of the Internal Rev- of applying subsection (b)(2) with respect to 1 or EXPIRATION OF PERIOD OF LIMITATIONS WITH RE- enue Code of 1986 (including any election re- more gifts, the rates of tax under subsection (c) SPECT TO DECEASED SPOUSAL UNUSED EXCLUSION quired to be made on such a return) shall not be in effect at the decedent’s death shall, in lieu of AMOUNT.—Notwithstanding any period of limi- earlier than the date which is 9 months after the the rates of tax in effect at the time of such tation in section 6501, after the time has expired date of the enactment of this Act. gifts, be used both to compute— under section 6501 within which a tax may be (e) EFFECTIVE DATE.—Except as otherwise ‘‘(1) the tax imposed by chapter 12 with re- assessed under chapter 11 or 12 with respect to provided in this section, the amendments made spect to such gifts, and a deceased spousal unused exclusion amount, by this section shall apply to estates of dece- ‘‘(2) the credit allowed against such tax under the Secretary may examine a return of the de- dents dying, and transfers made, after December section 2505, including in computing— ceased spouse to make determinations with re- 31, 2009. ‘‘(A) the applicable credit amount under sec- spect to such amount for purposes of carrying SEC. 302. MODIFICATIONS TO ESTATE, GIFT, AND tion 2505(a)(1), and out this subsection. GENERATION-SKIPPING TRANSFER ‘‘(B) the sum of the amounts allowed as a ‘‘(6) REGULATIONS.—The Secretary shall pre- TAXES. credit for all preceding periods under section scribe such regulations as may be necessary or (a) MODIFICATIONS TO ESTATE TAX.— 2505(a)(2).’’. appropriate to carry out this subsection.’’. (1) $5,000,000 APPLICABLE EXCLUSION (2) GIFT TAX.—Section 2505(a) is amended by (b) CONFORMING AMENDMENTS.— AMOUNT.—Subsection (c) of section 2010 is adding at the end the following new flush sen- amended to read as follows: (1) Paragraph (1) of section 2505(a), as amend- tence: ed by section 302(b)(1), is amended to read as ‘‘(c) APPLICABLE CREDIT AMOUNT.— ‘‘For purposes of applying paragraph (2) for ‘‘(1) IN GENERAL.—For purposes of this sec- follows: any calendar year, the rates of tax in effect ‘‘(1) the applicable credit amount in effect tion, the applicable credit amount is the amount under section 2502(a)(2) for such calendar year of the tentative tax which would be determined under section 2010(c) which would apply if the shall, in lieu of the rates of tax in effect for pre- donor died as of the end of the calendar year, under section 2001(c) if the amount with respect ceding calendar periods, be used in determining to which such tentative tax is to be computed reduced by’’. the amounts allowable as a credit under this (2) Section 2631(c) is amended by striking ‘‘the were equal to the applicable exclusion amount. section for all preceding calendar periods.’’. ‘‘(2) APPLICABLE EXCLUSION AMOUNT.— applicable exclusion amount’’ and inserting (e) CONFORMING AMENDMENT.—Section 2511 is ‘‘(A) IN GENERAL.—For purposes of this sub- ‘‘the basic exclusion amount’’. amended by striking subsection (c). section, the applicable exclusion amount is (3) Section 6018(a)(1) is amended by striking (f) EFFECTIVE DATE.—Except as otherwise $5,000,000. ‘‘applicable exclusion amount’’ and inserting provided in this subsection, the amendments ‘‘(B) INFLATION ADJUSTMENT.—In the case of ‘‘basic exclusion amount’’. made by this section shall apply to estates of de- any decedent dying in a calendar year after (c) EFFECTIVE DATES.— cedents dying, generation-skipping transfers, 2011, the dollar amount in subparagraph (A) (1) IN GENERAL.—Except as provided in para- shall be increased by an amount equal to— and gifts made, after December 31, 2009. graph (2), the amendments made by this section ‘‘(i) such dollar amount, multiplied by SEC. 303. APPLICABLE EXCLUSION AMOUNT IN- shall apply to estates of decedents dying and ‘‘(ii) the cost-of-living adjustment determined CREASED BY UNUSED EXCLUSION gifts made after December 31, 2010. AMOUNT OF DECEASED SPOUSE. under section 1(f)(3) for such calendar year by (2) CONFORMING AMENDMENT RELATING TO N ENERAL substituting ‘calendar year 2010’ for ‘calendar (a) I G .—Section 2010(c), as amended GENERATION-SKIPPING TRANSFERS.—The amend- year 1992’ in subparagraph (B) thereof. by section 302(a), is amended by striking para- ment made by subsection (b)(2) shall apply to If any amount as adjusted under the preceding graph (2) and inserting the following new para- generation-skipping transfers after December 31, sentence is not a multiple of $10,000, such graphs: 2010. amount shall be rounded to the nearest multiple ‘‘(2) APPLICABLE EXCLUSION AMOUNT.—For purposes of this subsection, the applicable ex- SEC. 304. APPLICATION OF EGTRRA SUNSET TO of $10,000.’’. THIS TITLE. clusion amount is the sum of— (2) MAXIMUM ESTATE TAX RATE EQUAL TO 35 Section 901 of the Economic Growth and Tax PERCENT.—Subsection (c) of section 2001 is ‘‘(A) the basic exclusion amount, and ‘‘(B) in the case of a surviving spouse, the de- Relief Reconciliation Act of 2001 shall apply to amended— the amendments made by this title. (A) by striking ‘‘Over $500,000’’ and all that ceased spousal unused exclusion amount. follows in the table contained in paragraph (1) ‘‘(3) BASIC EXCLUSION AMOUNT.— TITLE IV—TEMPORARY EXTENSION OF and inserting the following: ‘‘(A) IN GENERAL.—For purposes of this sub- INVESTMENT INCENTIVES section, the basic exclusion amount is $5,000,000. SEC. 401. EXTENSION OF BONUS DEPRECIATION; ‘‘Over $155,800, plus 35 percent of the ‘‘(B) INFLATION ADJUSTMENT.—In the case of TEMPORARY 100 PERCENT EXPENS- $500,000. excess of such amount over any decedent dying in a calendar year after ING FOR CERTAIN BUSINESS AS- $500,000.’’, 2011, the dollar amount in subparagraph (A) SETS. N ENERAL (B) by striking ‘‘(1) IN GENERAL.—’’, and shall be increased by an amount equal to— (a) I G .—Paragraph (2) of section (C) by striking paragraph (2). ‘‘(i) such dollar amount, multiplied by 168(k) is amended— (b) MODIFICATIONS TO GIFT TAX.— ‘‘(ii) the cost-of-living adjustment determined (1) by striking ‘‘January 1, 2012’’ in subpara- (1) RESTORATION OF UNIFIED CREDIT AGAINST under section 1(f)(3) for such calendar year by graph (A)(iv) and inserting ‘‘January 1, 2014’’, GIFT TAX.— substituting ‘calendar year 2010’ for ‘calendar and (A) IN GENERAL.—Paragraph (1) of section year 1992’ in subparagraph (B) thereof. (2) by striking ‘‘January 1, 2011’’ each place it 2505(a), after the application of section 301(b), is If any amount as adjusted under the preceding appears and inserting ‘‘January 1, 2013’’. amended by striking ‘‘(determined as if the ap- sentence is not a multiple of $10,000, such (b) TEMPORARY 100 PERCENT EXPENSING.— plicable exclusion amount were $1,000,000)’’. amount shall be rounded to the nearest multiple Subsection (k) of section 168 is amended by add- (B) EFFECTIVE DATE.—The amendment made of $10,000. ing at the end the following new paragraph: by this paragraph shall apply to gifts made ‘‘(4) DECEASED SPOUSAL UNUSED EXCLUSION ‘‘(5) SPECIAL RULE FOR PROPERTY ACQUIRED after December 31, 2010. AMOUNT.—For purposes of this subsection, with DURING CERTAIN PRE-2012 PERIODS.—In the case (2) MODIFICATION OF GIFT TAX RATE.—On and respect to a surviving spouse of a deceased of qualified property acquired by the taxpayer after January 1, 2011, subsection (a) of section spouse dying after December 31, 2010, the term (under rules similar to the rules of clauses (ii)

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00067 Fmt 4634 Sfmt 6333 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8588 CONGRESSIONAL RECORD — HOUSE December 16, 2010 and (iii) of paragraph (2)(A)) after September 8, (3) Subparagraph (D) of section 168(k)(4) is TITLE V—TEMPORARY EXTENSION OF UN- 2010, and before January 1, 2012, and which is amended— EMPLOYMENT INSURANCE AND RE- placed in service by the taxpayer before January (A) by striking clauses (iv) and (v), LATED MATTERS 1, 2012 (January 1, 2013, in the case of property (B) by inserting ‘‘and’’ at the end of clause SEC. 501. TEMPORARY EXTENSION OF UNEMPLOY- described in subparagraph (2)(B) or (2)(C)), (ii), and MENT INSURANCE PROVISIONS. paragraph (1)(A) shall be applied by sub- (C) by striking the comma at the end of clause (a) IN GENERAL.—(1) Section 4007 of the Sup- stituting ‘100 percent’ for ‘50 percent’.’’. (iii) and inserting a period. plemental Appropriations Act, 2008 (Public Law (c) EXTENSION OF ELECTION TO ACCELERATE (4) Paragraph (5) of section 168(l) is amend- 110–252; 26 U.S.C. 3304 note) is amended— THE AMT CREDIT IN LIEU OF BONUS DEPRECIA- ed— (A) by striking ‘‘November 30, 2010’’ each TION.— (A) by inserting ‘‘and’’ at the end of subpara- place it appears and inserting ‘‘January 3, (1) EXTENSION.—Clause (iii) of section graph (A), 2012’’; 168(k)(4)(D) is amended by striking ‘‘or produc- (B) by striking subparagraph (B), and (B) in the heading for subsection (b)(2), by tion’’ and all that follows and inserting ‘‘or pro- (C) by redesignating subparagraph (C) as sub- striking ‘‘NOVEMBER 30, 2010’’ and inserting ‘‘JAN- duction— paragraph (B). UARY 3, 2012’’; and ‘‘(I) after March 31, 2008, and before January (5) Subparagraph (C) of section 168(n)(2) is (C) in subsection (b)(3), by striking ‘‘April 30, 1, 2010, and amended by striking ‘‘January 1, 2011’’ and in- 2011’’ and inserting ‘‘June 9, 2012’’. ‘‘(II) after December 31, 2010, and before Jan- serting ‘‘January 1, 2013’’. (2) Section 2005 of the Assistance for Unem- uary 1, 2013, (6) Subparagraph (D) of section 1400L(b)(2) is ployed Workers and Struggling Families Act, as shall be taken into account under subparagraph amended by striking ‘‘January 1, 2011’’ and in- contained in Public Law 111–5 (26 U.S.C. 3304 (B)(ii) thereof,’’. serting ‘‘January 1, 2013’’. note; 123 Stat. 444), is amended— (2) RULES FOR ROUND 2 EXTENSION PROP- (7) Subparagraph (B) of section 1400N(d)(3) is (A) by striking ‘‘December 1, 2010’’ each place ERTY.—Paragraph (4) of section 168(k) is amend- amended by striking ‘‘January 1, 2011’’ and in- it appears and inserting ‘‘January 4, 2012’’; and ed by adding at the end the following new sub- serting ‘‘January 1, 2013’’. (B) in subsection (c), by striking ‘‘May 1, paragraph: (e) EFFECTIVE DATES.— 2011’’ and inserting ‘‘June 11, 2012’’. ‘‘(I) SPECIAL RULES FOR ROUND 2 EXTENSION (1) IN GENERAL.—Except as provided in para- (3) Section 5 of the Unemployment Compensa- PROPERTY.— graph (2), the amendments made by this section tion Extension Act of 2008 (Public Law 110–449; ‘‘(i) IN GENERAL.—In the case of round 2 ex- shall apply to property placed in service after 26 U.S.C. 3304 note) is amended by striking tension property, this paragraph shall be ap- December 31, 2010, in taxable years ending after ‘‘April 30, 2011’’ and inserting ‘‘June 10, 2012’’. plied without regard to— such date. (b) FUNDING.—Section 4004(e)(1) of the Sup- ‘‘(I) the limitation described in subparagraph (2) TEMPORARY 100 PERCENT EXPENSING.—The plemental Appropriations Act, 2008 (Public Law (B)(i) thereof, and amendment made by subsection (b) shall apply 110–252; 26 U.S.C. 3304 note) is amended— ‘‘(II) the business credit increase amount to property placed in service after September 8, (1) in subparagraph (E), by striking ‘‘and’’ at under subparagraph (E)(iii) thereof. 2010, in taxable years ending after such date. the end; and (2) by inserting after subparagraph (F) the ‘‘(ii) TAXPAYERS PREVIOUSLY ELECTING ACCEL- SEC. 402. TEMPORARY EXTENSION OF INCREASED following: ERATION.—In the case of a taxpayer who made SMALL BUSINESS EXPENSING. ‘‘(G) the amendments made by section the election under subparagraph (A) for its first (a) DOLLAR LIMITATION.—Section 179(b)(1) is 501(a)(1) of the Tax Relief, Unemployment In- taxable year ending after March 31, 2008, or a amended by striking ‘‘and’’ at the end of sub- surance Reauthorization, and Job Creation Act taxpayer who made the election under subpara- paragraph (B) and by striking subparagraph of 2010; and’’. graph (H)(ii) for its first taxable year ending (C) and inserting the following new subpara- (c) EFFECTIVE DATE.—The amendments made after December 31, 2008— graphs: by this section shall take effect as if included in ‘‘(I) the taxpayer may elect not to have this ‘‘(C) $125,000 in the case of taxable years be- the enactment of the Unemployment Compensa- paragraph apply to round 2 extension property, ginning in 2012, and tion Extension Act of 2010 (Public Law 111–205). but ‘‘(D) $25,000 in the case of taxable years be- SEC. 502. TEMPORARY MODIFICATION OF INDICA- ‘‘(II) if the taxpayer does not make the elec- ginning after 2012.’’. TORS UNDER THE EXTENDED BEN- tion under subclause (I), in applying this para- (b) REDUCTION IN LIMITATION.—Section EFIT PROGRAM. graph to the taxpayer the bonus depreciation 179(b)(2) is amended by striking ‘‘and’’ at the (a) INDICATOR.—Section 203(d) of the Federal- amount, maximum amount, and maximum in- end of subparagraph (B) and by striking sub- State Extended Unemployment Compensation crease amount shall be computed and applied to paragraph (C) and inserting the following new Act of 1970 (26 U.S.C. 3304 note) is amended, in eligible qualified property which is round 2 ex- subparagraphs: the flush matter following paragraph (2), by in- tension property. ‘‘(C) $500,000 in the case of taxable years be- serting after the first sentence the following sen- The amounts described in subclause (II) shall be ginning in 2012, and tence: ‘‘Effective with respect to compensation computed separately from any amounts com- ‘‘(D) $200,000 in the case of taxable years be- for weeks of unemployment beginning after the puted with respect to eligible qualified property ginning after 2012.’’. date of enactment of the Tax Relief, Unemploy- which is not round 2 extension property. (c) INFLATION ADJUSTMENT.—Subsection (b) of ment Insurance Reauthorization, and Job Cre- ‘‘(iii) TAXPAYERS NOT PREVIOUSLY ELECTING section 179 is amended by adding at the end the ation Act of 2010 (or, if later, the date estab- ACCELERATION.—In the case of a taxpayer who following new paragraph: lished pursuant to State law), and ending on or neither made the election under subparagraph ‘‘(6) INFLATION ADJUSTMENT.— before December 31, 2011, the State may by law (A) for its first taxable year ending after March ‘‘(A) IN GENERAL.—In the case of any taxable provide that the determination of whether there 31, 2008, nor made the election under subpara- year beginning in calendar year 2012, the has been a state ‘on’ or ‘off’ indicator beginning graph (H)(ii) for its first taxable year ending $125,000 and $500,000 amounts in paragraphs or ending any extended benefit period shall be after December 31, 2008— (1)(C) and (2)(C) shall each be increased by an made under this subsection as if the word ‘two’ ‘‘(I) the taxpayer may elect to have this para- amount equal to— were ‘three’ in subparagraph (1)(A).’’. graph apply to its first taxable year ending after ‘‘(i) such dollar amount, multiplied by (b) ALTERNATIVE TRIGGER.—Section 203(f) of December 31, 2010, and each subsequent taxable ‘‘(ii) the cost-of-living adjustment determined the Federal-State Extended Unemployment Com- year, and under section 1(f)(3) for the calendar year in pensation Act of 1970 (26 U.S.C. 3304 note) is ‘‘(II) if the taxpayer makes the election under which the taxable year begins, by substituting amended— subclause (I), this paragraph shall only apply to ‘calendar year 2006’ for ‘calendar year 1992’ in (1) by redesignating paragraph (2) as para- eligible qualified property which is round 2 ex- subparagraph (B) thereof. graph (3); and tension property. ‘‘(B) ROUNDING.— (2) by inserting after paragraph (1) the fol- ‘‘(iv) ROUND 2 EXTENSION PROPERTY.—For ‘‘(i) DOLLAR LIMITATION.—If the amount in lowing new paragraph: purposes of this subparagraph, the term ‘round paragraph (1) as increased under subparagraph ‘‘(2) Effective with respect to compensation for 2 extension property’ means property which is (A) is not a multiple of $1,000, such amount weeks of unemployment beginning after the date eligible qualified property solely by reason of shall be rounded to the nearest multiple of of enactment of the Tax Relief, Unemployment the extension of the application of the special $1,000. Insurance Reauthorization, and Job Creation allowance under paragraph (1) pursuant to the ‘‘(ii) PHASEOUT AMOUNT.—If the amount in Act of 2010 (or, if later, the date established pur- amendments made by section 401(a) of the Tax paragraph (2) as increased under subparagraph suant to State law), and ending on or before De- Relief, Unemployment Insurance Reauthoriza- (A) is not a multiple of $10,000, such amount cember 31, 2011, the State may by law provide tion, and Job Creation Act of 2010 (and the ap- shall be rounded to the nearest multiple of that the determination of whether there has plication of such extension to this paragraph $10,000.’’. been a state ‘on’ or ‘off’ indicator beginning or pursuant to the amendment made by section (d) COMPUTER SOFTWARE.—Section ending any extended benefit period shall be 401(c)(1) of such Act).’’. 179(d)(1)(A)(ii) is amended by striking ‘‘2012’’ made under this subsection as if the word ‘ei- (d) CONFORMING AMENDMENTS.— and inserting ‘‘2013’’. ther’ were ‘any’, the word ‘‘both’’ were ‘all’, (1) The heading for subsection (k) of section (e) CONFORMING AMENDMENT.—Section and the figure ‘2’ were ‘3’ in clause (1)(A)(ii).’’. 168 is amended by striking ‘‘JANUARY 1, 2011’’ 179(c)(2) is amended by striking ‘‘2012’’ and in- SEC. 503. TECHNICAL AMENDMENT RELATING TO and inserting ‘‘JANUARY 1, 2013’’. serting ‘‘2013’’. COLLECTION OF UNEMPLOYMENT (2) The heading for clause (ii) of section (f) EFFECTIVE DATE.—The amendments made COMPENSATION DEBTS. 168(k)(2)(B) is amended by striking ‘‘PRE-JANU- by this section shall apply to taxable years be- (a) IN GENERAL.—Section 6402(f)(3)(C), as ARY 1, 2011’’ and inserting ‘‘PRE-JANUARY 1, 2013’’. ginning after December 31, 2011. amended by section 801 of the Claims Resolution

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Act of 2010, is amended by striking ‘‘is not a (e) TRANSFERS OF FUNDS.— (b) EFFECTIVE DATE.—The amendment made covered unemployment compensation debt’’ and (1) TRANSFERS TO FEDERAL OLD-AGE AND SUR- by this section shall apply to facilities placed in inserting ‘‘is a covered unemployment com- VIVORS INSURANCE TRUST FUND.—There are here- service after December 31, 2009. pensation debt’’. by appropriated to the Federal Old-Age and SEC. 703. NEW ENERGY EFFICIENT HOME CREDIT. (b) EFFECTIVE DATE.—The amendment made Survivors Trust Fund and the Federal Disability (a) IN GENERAL.—Subsection (g) of section 45L by subsection (a) shall take effect as if included Insurance Trust Fund established under section is amended by striking ‘‘December 31, 2009’’ and in section 801 of the Claims Resolution Act of 201 of the Social Security Act (42 U.S.C. 401) inserting ‘‘December 31, 2011’’. 2010. amounts equal to the reduction in revenues to (b) EFFECTIVE DATE.—The amendment made SEC. 504. TECHNICAL CORRECTION RELATING TO the Treasury by reason of the application of by this section shall apply to homes acquired REPEAL OF CONTINUED DUMPING subsection (a). Amounts appropriated by the after December 31, 2009. AND SUBSIDY OFFSET. preceding sentence shall be transferred from the SEC. 704. EXCISE TAX CREDITS AND OUTLAY PAY- (a) IN GENERAL.—Section 822(2)(A) of the general fund at such times and in such manner MENTS FOR ALTERNATIVE FUEL AND Claims Resolution Act of 2010 is amended by as to replicate to the extent possible the trans- ALTERNATIVE FUEL MIXTURES. striking ‘‘or’’ and inserting ‘‘and’’. fers which would have occurred to such Trust (a) IN GENERAL.—Sections 6426(d)(5), (b) EFFECTIVE DATE.—The amendment made Fund had such amendments not been enacted. 6426(e)(3), and 6427(e)(6)(C) are each amended by subsection (a) shall take effect as if included (2) TRANSFERS TO SOCIAL SECURITY EQUIVA- by striking ‘‘December 31, 2009’’ and inserting in the provisions of the Claims Resolution Act of LENT BENEFIT ACCOUNT.—There are hereby ap- ‘‘December 31, 2011’’. 2010. propriated to the Social Security Equivalent (b) EXCLUSION OF BLACK LIQUOR FROM CRED- SEC. 505. ADDITIONAL EXTENDED UNEMPLOY- Benefit Account established under section IT ELIGIBILITY.—The last sentence of section MENT BENEFITS UNDER THE RAIL- 15A(a) of the Railroad Retirement Act of 1974 6426(d)(2) is amended by striking ‘‘or biodiesel’’ ROAD UNEMPLOYMENT INSURANCE (45 U.S.C. 231n–1(a)) amounts equal to the re- and inserting ‘‘biodiesel, or any fuel (including ACT. duction in revenues to the Treasury by reason lignin, wood residues, or spent pulping liquors) (a) EXTENSION.—Section 2(c)(2)(D)(iii) of the of the application of subsection (a)(2). Amounts derived from the production of paper or pulp’’. Railroad Unemployment Insurance Act, as appropriated by the preceding sentence shall be (c) SPECIAL RULE FOR 2010.—Notwithstanding added by section 2006 of the American Recovery transferred from the general fund at such times any other provision of law, in the case of any and Reinvestment Act of 2009 (Public Law 111– and in such manner as to replicate to the extent alternative fuel credit or any alternative fuel 5) and as amended by section 9 of the Worker, possible the transfers which would have oc- mixture credit properly determined under sub- Homeownership, and Business Assistance Act of curred to such Account had such amendments section (d) or (e) of section 6426 of the Internal 2009 (Public Law 111–92), is amended— not been enacted. Revenue Code of 1986 for periods during 2010, (1) by striking ‘‘June 30, 2010’’ and inserting (3) COORDINATION WITH OTHER FEDERAL such credit shall be allowed, and any refund or ‘‘June 30, 2011’’; and LAWS.—For purposes of applying any provision (2) by striking ‘‘December 31, 2010’’ and insert- payment attributable to such credit (including of Federal law other than the provisions of the any payment under section 6427(e) of such ing ‘‘December 31, 2011’’. Internal Revenue Code of 1986, the rate of tax in (b) CLARIFICATION ON AUTHORITY TO USE Code) shall be made, only in such manner as the effect under section 3101(a) of such Code shall FUNDS.—Funds appropriated under either the Secretary of the Treasury (or the Secretary’s be determined without regard to the reduction first or second sentence of clause (iv) of section delegate) shall provide. Such Secretary shall in such rate under this section. 2(c)(2)(D) of the Railroad Unemployment Insur- issue guidance within 30 days after the date of ance Act shall be available to cover the cost of TITLE VII—TEMPORARY EXTENSION OF the enactment of this Act providing for a one- additional extended unemployment benefits pro- CERTAIN EXPIRING PROVISIONS time submission of claims covering periods dur- vided under such section 2(c)(2)(D) by reason of Subtitle A—Energy ing 2010. Such guidance shall provide for a 180- day period for the submission of such claims (in the amendments made by subsection (a) as well SEC. 701. INCENTIVES FOR BIODIESEL AND RE- as to cover the cost of such benefits provided NEWABLE DIESEL. such manner as prescribed by such Secretary) to under such section 2(c)(2)(D), as in effect on the (a) CREDITS FOR BIODIESEL AND RENEWABLE begin not later than 30 days after such guidance day before the date of the enactment of this Act. DIESEL USED AS FUEL.—Subsection (g) of section is issued. Such claims shall be paid by such Sec- 40A is amended by striking ‘‘December 31, 2009’’ retary not later than 60 days after receipt. If TITLE VI—TEMPORARY EMPLOYEE such Secretary has not paid pursuant to a claim PAYROLL TAX CUT and inserting ‘‘December 31, 2011’’. (b) EXCISE TAX CREDITS AND OUTLAY PAY- filed under this subsection within 60 days after SEC. 601. TEMPORARY EMPLOYEE PAYROLL TAX the date of the filing of such claim, the claim CUT. MENTS FOR BIODIESEL AND RENEWABLE DIESEL FUEL MIXTURES.— shall be paid with interest from such date deter- (a) IN GENERAL.—Notwithstanding any other (1) Paragraph (6) of section 6426(c) is amended mined by using the overpayment rate and meth- provision of law— by striking ‘‘December 31, 2009’’ and inserting od under section 6621 of such Code. (1) with respect to any taxable year which be- (d) EFFECTIVE DATE.—The amendments made gins in the payroll tax holiday period, the rate ‘‘December 31, 2011’’. (2) Subparagraph (B) of section 6427(e)(6) is by this section shall apply to fuel sold or used of tax under section 1401(a) of the Internal Rev- amended by striking ‘‘December 31, 2009’’ and after December 31, 2009. enue Code of 1986 shall be 10.40 percent, and SEC. 705. SPECIAL RULE FOR SALES OR DISPOSI- (2) with respect to remuneration received dur- inserting ‘‘December 31, 2011’’. (c) SPECIAL RULE FOR 2010.—Notwithstanding TIONS TO IMPLEMENT FERC OR ing the payroll tax holiday period, the rate of any other provision of law, in the case of any STATE ELECTRIC RESTRUCTURING tax under 3101(a) of such Code shall be 4.2 per- biodiesel mixture credit properly determined POLICY FOR QUALIFIED ELECTRIC cent (including for purposes of determining the UTILITIES. under section 6426(c) of the Internal Revenue applicable percentage under sections 3201(a) (a) IN GENERAL.—Paragraph (3) of section Code of 1986 for periods during 2010, such credit and 3211(a)(1) of such Code). 451(i) is amended by striking ‘‘January 1, 2010’’ shall be allowed, and any refund or payment at- (b) COORDINATION WITH DEDUCTIONS FOR EM- and inserting ‘‘January 1, 2012’’. tributable to such credit (including any pay- PLOYMENT TAXES.— (b) EFFECTIVE DATE.—The amendment made ment under section 6427(e) of such Code) shall (1) DEDUCTION IN COMPUTING NET EARNINGS by this section shall apply to dispositions after be made, only in such manner as the Secretary FROM SELF-EMPLOYMENT.—For purposes of ap- December 31, 2009. plying section 1402(a)(12) of the Internal Rev- of the Treasury (or the Secretary’s delegate) shall provide. Such Secretary shall issue guid- SEC. 706. SUSPENSION OF LIMITATION ON PER- enue Code of 1986, the rate of tax imposed by CENTAGE DEPLETION FOR OIL AND subsection 1401(a) of such Code shall be deter- ance within 30 days after the date of the enact- GAS FROM MARGINAL WELLS. mined without regard to the reduction in such ment of this Act providing for a one-time sub- (a) IN GENERAL.—Clause (ii) of section rate under this section. mission of claims covering periods during 2010. 613A(c)(6)(H) is amended by striking ‘‘January (2) INDIVIDUAL DEDUCTION.—In the case of the Such guidance shall provide for a 180-day pe- 1, 2010’’ and inserting ‘‘January 1, 2012’’. taxes imposed by section 1401 of such Code for riod for the submission of such claims (in such (b) EFFECTIVE DATE.—The amendment made any taxable year which begins in the payroll manner as prescribed by such Secretary) to by this section shall apply to taxable years be- tax holiday period, the deduction under section begin not later than 30 days after such guidance ginning after December 31, 2009. is issued. Such claims shall be paid by such Sec- 164(f) with respect to such taxes shall be equal SEC. 707. EXTENSION OF GRANTS FOR SPECIFIED to the sum of— retary not later than 60 days after receipt. If ENERGY PROPERTY IN LIEU OF TAX (A) 59.6 percent of the portion of such taxes such Secretary has not paid pursuant to a claim CREDITS. attributable to the tax imposed by section filed under this subsection within 60 days after (a) IN GENERAL.—Subsection (a) of section 1401(a) (determined after the application of this the date of the filing of such claim, the claim 1603 of division B of the American Recovery and section), plus shall be paid with interest from such date deter- Reinvestment Act of 2009 is amended— (B) one-half of the portion of such taxes at- mined by using the overpayment rate and meth- (1) in paragraph (1), by striking ‘‘2009 or tributable to the tax imposed by section 1401(b). od under section 6621 of such Code. 2010’’ and inserting ‘‘2009, 2010, or 2011’’, and (c) PAYROLL TAX HOLIDAY PERIOD.—The term (d) EFFECTIVE DATE.—The amendments made (2) in paragraph (2)— ‘‘payroll tax holiday period’’ means calendar by this section shall apply to fuel sold or used (A) by striking ‘‘after 2010’’ and inserting year 2011. after December 31, 2009. ‘‘after 2011’’, and (d) EMPLOYER NOTIFICATION.—The Secretary SEC. 702. CREDIT FOR REFINED COAL FACILITIES. (B) by striking ‘‘2009 or 2010’’ and inserting of the Treasury shall notify employers of the (a) IN GENERAL.—Subparagraph (B) of section ‘‘2009, 2010, or 2011’’. payroll tax holiday period in any manner the 45(d)(8) is amended by striking ‘‘January 1, (b) CONFORMING AMENDMENT.—Subsection (j) Secretary deems appropriate. 2010’’ and inserting ‘‘January 1, 2012’’. of section 1603 of division B of such Act is

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amended by striking ‘‘2011’’ and inserting ‘‘(ii) which is a front-loading clothes washer (2) MODIFICATION OF STANDARDS.— ‘‘2012’’. and which meets or exceeds a 2.8 modified en- (A) IN GENERAL.—Paragraph (1) of section SEC. 708. EXTENSION OF PROVISIONS RELATED ergy factor and does not exceed a 3.5 water con- 25C(c) is amended by striking ‘‘2000’’ and all TO ALCOHOL USED AS FUEL. sumption factor.’’. that follows through ‘‘this section’’ and insert- (a) EXTENSION OF INCOME TAX CREDIT FOR (c) REFRIGERATORS.—Paragraph (3) of section ing ‘‘2009 International Energy Conservation ALCOHOL USED AS FUEL.— 45M(b) is amended by striking ‘‘and’’ at the end Code, as such Code (including supplements) is (1) IN GENERAL.—Paragraph (1) of section of subparagraph (C), by striking the period at in effect on the date of the enactment of the 40(e) is amended— the end of subparagraph (D) and inserting a American Recovery and Reinvestment Tax Act (A) by striking ‘‘December 31, 2010’’ in sub- comma, and by adding at the end the following of 2009’’. paragraph (A) and inserting ‘‘December 31, new subparagraphs: (B) WOOD STOVES.—Subparagraph (E) of sec- 2011’’, and ‘‘(E) $150 in the case of a refrigerator manu- tion 25C(d)(3) is amended by striking ‘‘, as meas- (B) by striking ‘‘January 1, 2011’’ in subpara- factured in calendar year 2011 which consumes ured using a lower heating value’’. graph (B) and inserting ‘‘January 1, 2012’’. at least 30 percent less energy than the 2001 en- (C) OIL FURNACES AND HOT WATER BOILERS.— (2) REDUCED AMOUNT FOR ETHANOL BLEND- ergy conservation standards, and (i) IN GENERAL.—Paragraph (4) of section ERS.—Subsection (h) of section 40 is amended by ‘‘(F) $200 in the case of a refrigerator manu- 25C(d) is amended to read as follows: striking ‘‘2010’’ both places it appears and in- factured in calendar year 2011 which consumes ‘‘(4) QUALIFIED NATURAL GAS, PROPANE, OR serting ‘‘2011’’. at least 35 percent less energy than the 2001 en- OIL FURNACE OR HOT WATER BOILER.—The term (3) EFFECTIVE DATE.—The amendments made ergy conservation standards.’’. ‘qualified natural gas, propane, or oil furnace by this subsection shall apply to periods after (d) REBASING OF LIMITATIONS.— or hot water boiler’ means a natural gas, pro- December 31, 2010. (1) IN GENERAL.—Paragraph (1) of section pane, or oil furnace or hot water boiler which (b) EXTENSION OF EXCISE TAX CREDIT FOR AL- 45M(e) is amended— achieves an annual fuel utilization efficiency COHOL USED AS FUEL.— (A) by striking ‘‘$75,000,000’’ and inserting rate of not less than 95.’’. (1) IN GENERAL.—Paragraph (6) of section ‘‘$25,000,000’’, and (ii) CONFORMING AMENDMENT.—Clause (ii) of 6426(b) is amended by striking ‘‘December 31, (B) by striking ‘‘December 31, 2007’’ and in- section 25C(d)(2)(A) is amended to read as fol- 2010’’ and inserting ‘‘December 31, 2011’’. serting ‘‘December 31, 2010’’. lows: ‘‘(ii) a qualified natural gas, propane, or oil (2) EFFECTIVE DATE.—The amendment made (2) EXCEPTION FOR CERTAIN REFRIGERATORS furnace or hot water boiler, or’’. by this subsection shall apply to periods after AND CLOTHES WASHERS.—Paragraph (2) of sec- (D) EXTERIOR WINDOWS, DOORS, AND SKY- December 31, 2010. tion 45M(e) is amended— LIGHTS.— (c) EXTENSION OF PAYMENT FOR ALCOHOL (A) by striking ‘‘subsection (b)(3)(D)’’ and in- (i) IN GENERAL.—Subsection (c) of section 25C FUEL MIXTURE.— serting ‘‘subsection (b)(3)(F)’’, and is amended by striking paragraph (4). (1) IN GENERAL.—Subparagraph (A) of section (B) by striking ‘‘subsection (b)(2)(D)’’ and in- (ii) APPLICATION OF ENERGY STAR STAND- 6427(e)(6) is amended by striking ‘‘December 31, serting ‘‘subsection (b)(2)(F)’’. ARDS.—Paragraph (1) of section 25C(c) is 2010’’ and inserting ‘‘December 31, 2011’’. (3) GROSS RECEIPTS LIMITATION.—Paragraph amended by inserting ‘‘an exterior window, a (2) EFFECTIVE DATE.—The amendment made (3) of section 45M(e) is amended by striking ‘‘2 skylight, an exterior door,’’ after ‘‘in the case by this subsection shall apply to sales and uses percent’’ and inserting ‘‘4 percent’’. of’’ in the matter preceding subparagraph (A). after December 31, 2010. (e) EFFECTIVE DATES.— (E) INSULATION.—Subparagraph (A) of section (d) EXTENSION OF ADDITIONAL DUTIES ON (1) IN GENERAL.—The amendments made by 25C(c)(2) is amended by striking ‘‘and meets the ETHANOL.— subsections (a), (b), and (c) shall apply to appli- prescriptive criteria for such material or system (1) IN GENERAL.—Headings 9901.00.50 and ances produced after December 31, 2010. established by the 2009 International Energy 9901.00.52 of the Harmonized Tariff Schedule of (2) LIMITATIONS.—The amendments made by Conservation Code, as such Code (including the United States are each amended in the effec- subsection (d) shall apply to taxable years be- supplements) is in effect on the date of the en- tive period column by striking ‘‘1/1/2011’’ and in- ginning after December 31, 2010. serting ‘‘1/1/2012’’. actment of the American Recovery and Rein- SEC. 710. CREDIT FOR NONBUSINESS ENERGY vestment Tax Act of 2009’’. (2) EFFECTIVE DATE.—The amendments made PROPERTY. (3) SUBSIDIZED ENERGY FINANCING.—Sub- by this subsection shall take effect on January (a) EXTENSION.—Section 25C(g)(2) is amended section (e) of section 25C is amended by adding 1, 2011. by striking ‘‘2010’’ and inserting ‘‘2011’’. at the end the following new paragraph: SEC. 709. ENERGY EFFICIENT APPLIANCE CREDIT. (b) RETURN TO PRE-ARRA LIMITATIONS AND ‘‘(3) PROPERTY FINANCED BY SUBSIDIZED EN- (a) DISHWASHERS.—Paragraph (1) of section STANDARDS.— ERGY FINANCING.—For purposes of determining 45M(b) is amended by striking ‘‘and’’ at the end (1) IN GENERAL.—Subsections (a) and (b) of the amount of expenditures made by any indi- of subparagraph (A), by striking the period at section 25C are amended to read as follows: vidual with respect to any property, there shall the end of subparagraph (B) and inserting a ‘‘(a) ALLOWANCE OF CREDIT.—In the case of not be taken into account expenditures which comma, and by adding at the end the following an individual, there shall be allowed as a credit are made from subsidized energy financing (as new subparagraphs: against the tax imposed by this chapter for the defined in section 48(a)(4)(C)).’’. ‘‘(C) $25 in the case of a dishwasher which is taxable year an amount equal to the sum of— (c) EFFECTIVE DATE.—The amendments made manufactured in calendar year 2011 and which ‘‘(1) 10 percent of the amount paid or incurred by this section shall apply to property placed in uses no more than 307 kilowatt hours per year by the taxpayer for qualified energy efficiency service after December 31, 2010. and 5.0 gallons per cycle (5.5 gallons per cycle improvements installed during such taxable SEC. 711. ALTERNATIVE FUEL VEHICLE REFUEL- for dishwashers designed for greater than 12 year, and ING PROPERTY. place settings), ‘‘(2) the amount of the residential energy (a) EXTENSION OF CREDIT.—Paragraph (2) of ‘‘(D) $50 in the case of a dishwasher which is property expenditures paid or incurred by the section 30C(g) is amended by striking ‘‘December manufactured in calendar year 2011 and which taxpayer during such taxable year. 31, 2010’’ and inserting ‘‘December 31, 2011.’’. uses no more than 295 kilowatt hours per year ‘‘(b) LIMITATIONS.— (b) EFFECTIVE DATE.—The amendment made and 4.25 gallons per cycle (4.75 gallons per cycle ‘‘(1) LIFETIME LIMITATION.—The credit al- by this section shall apply to property placed in for dishwashers designed for greater than 12 lowed under this section with respect to any service after December 31, 2010. place settings), and taxpayer for any taxable year shall not exceed Subtitle B—Individual Tax Relief ‘‘(E) $75 in the case of a dishwasher which is the excess (if any) of $500 over the aggregate credits allowed under this section with respect SEC. 721. DEDUCTION FOR CERTAIN EXPENSES manufactured in calendar year 2011 and which OF ELEMENTARY AND SECONDARY uses no more than 280 kilowatt hours per year to such taxpayer for all prior taxable years end- SCHOOL TEACHERS. and 4 gallons per cycle (4.5 gallons per cycle for ing after December 31, 2005. (a) IN GENERAL.—Subparagraph (D) of section dishwashers designed for greater than 12 place ‘‘(2) WINDOWS.—In the case of amounts paid 62(a)(2) is amended by striking ‘‘or 2009’’ and settings).’’. or incurred for components described in sub- inserting ‘‘2009, 2010, or 2011’’. (b) CLOTHES WASHERS.—Paragraph (2) of sec- section (c)(2)(B) by any taxpayer for any tax- (b) EFFECTIVE DATE.—The amendment made tion 45M(b) is amended by striking ‘‘and’’ at the able year, the credit allowed under this section by this section shall apply to taxable years be- end of subparagraph (C), by striking the period with respect to such amounts for such year shall ginning after December 31, 2009. at the end of subparagraph (D) and inserting a not exceed the excess (if any) of $200 over the SEC. 722. DEDUCTION OF STATE AND LOCAL comma, and by adding at the end the following aggregate credits allowed under this section SALES TAXES. new subparagraphs: with respect to such amounts for all prior tax- (a) IN GENERAL.—Subparagraph (I) of section ‘‘(E) $175 in the case of a top-loading clothes able years ending after December 31, 2005. 164(b)(5) is amended by striking ‘‘January 1, washer manufactured in calendar year 2011 ‘‘(3) LIMITATION ON RESIDENTIAL ENERGY 2010’’ and inserting ‘‘January 1, 2012’’. which meets or exceeds a 2.2 modified energy PROPERTY EXPENDITURES.—The amount of the (b) EFFECTIVE DATE.—The amendment made factor and does not exceed a 4.5 water consump- credit allowed under this section by reason of by this section shall apply to taxable years be- tion factor, and subsection (a)(2) shall not exceed— ginning after December 31, 2009. ‘‘(F) $225 in the case of a clothes washer man- ‘‘(A) $50 for any advanced main air circu- SEC. 723. CONTRIBUTIONS OF CAPITAL GAIN ufactured in calendar year 2011— lating fan, REAL PROPERTY MADE FOR CON- ‘‘(i) which is a top-loading clothes washer and ‘‘(B) $150 for any qualified natural gas, pro- SERVATION PURPOSES. which meets or exceeds a 2.4 modified energy pane, or oil furnace or hot water boiler, and (a) IN GENERAL.—Clause (vi) of section factor and does not exceed a 4.2 water consump- ‘‘(C) $300 for any item of energy-efficient 170(b)(1)(E) is amended by striking ‘‘December tion factor, or building property.’’. 31, 2009’’ and inserting ‘‘December 31, 2011’’.

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(b) CONTRIBUTIONS BY CERTAIN CORPORATE (c) EFFECTIVE DATE.—The amendments made (c) EFFECTIVE DATE.—The amendments made FARMERS AND RANCHERS.—Clause (iii) of section by this section shall apply to amounts received by this section shall apply to property placed in 170(b)(2)(B) is amended by striking ‘‘December after December 31, 2009. service after December 31, 2009. 31, 2009’’ and inserting ‘‘December 31, 2011’’. Subtitle C—Business Tax Relief SEC. 738. 7-YEAR RECOVERY PERIOD FOR MOTOR- (c) EFFECTIVE DATE.—The amendments made SPORTS ENTERTAINMENT COM- SEC. 731. RESEARCH CREDIT. by this section shall apply to contributions made PLEXES. N ENERAL in taxable years beginning after December 31, (a) I G .—Subparagraph (B) of section (a) IN GENERAL.—Subparagraph (D) of section 2009. 41(h)(1) is amended by striking ‘‘December 31, 168(i)(15) is amended by striking ‘‘December 31, 2009’’ and inserting ‘‘December 31, 2011’’. SEC. 724. ABOVE-THE-LINE DEDUCTION FOR 2009’’ and inserting ‘‘December 31, 2011’’. ONFORMING MENDMENT QUALIFIED TUITION AND RELATED (b) C A .—Subparagraph (b) EFFECTIVE DATE.—The amendment made EXPENSES. (D) of section 45C(b)(1) is amended by striking by this section shall apply to property placed in (a) IN GENERAL.—Subsection (e) of section 222 ‘‘December 31, 2009’’ and inserting ‘‘December service after December 31, 2009. 31, 2011’’. is amended by striking ‘‘December 31, 2009’’ and SEC. 739. ACCELERATED DEPRECIATION FOR (c) EFFECTIVE DATE.—The amendments made inserting ‘‘December 31, 2011’’. BUSINESS PROPERTY ON AN INDIAN (b) EFFECTIVE DATE.—The amendment made by this section shall apply to amounts paid or RESERVATION. by this section shall apply to taxable years be- incurred after December 31, 2009. (a) IN GENERAL.—Paragraph (8) of section ginning after December 31, 2009. SEC. 732. INDIAN EMPLOYMENT TAX CREDIT. 168(j) is amended by striking ‘‘December 31, SEC. 725. TAX-FREE DISTRIBUTIONS FROM INDI- (a) IN GENERAL.—Subsection (f) of section 45A 2009’’ and inserting ‘‘December 31, 2011’’. VIDUAL RETIREMENT PLANS FOR is amended by striking ‘‘December 31, 2009’’ and (b) EFFECTIVE DATE.—The amendment made CHARITABLE PURPOSES. inserting ‘‘December 31, 2011’’. by this section shall apply to property placed in (a) IN GENERAL.—Subparagraph (F) of section (b) EFFECTIVE DATE.—The amendment made service after December 31, 2009. 408(d)(8) is amended by striking ‘‘December 31, by this section shall apply to taxable years be- SEC. 740. ENHANCED CHARITABLE DEDUCTION 2009’’ and inserting ‘‘December 31, 2011’’. ginning after December 31, 2009. FOR CONTRIBUTIONS OF FOOD IN- (b) EFFECTIVE DATE; SPECIAL RULE.— SEC. 733. NEW MARKETS TAX CREDIT. VENTORY. (1) EFFECTIVE DATE.—The amendment made (a) IN GENERAL.—Paragraph (1) of section (a) IN GENERAL.—Clause (iv) of section by this section shall apply to distributions made 45D(f) is amended— 170(e)(3)(C) is amended by striking ‘‘December in taxable years beginning after December 31, (1) by striking ‘‘and’’ at the end of subpara- 31, 2009’’ and inserting ‘‘December 31, 2011’’. 2009. graph (E), (b) EFFECTIVE DATE.—The amendment made (2) SPECIAL RULE.—For purposes of sub- (2) by striking the period at the end of sub- by this section shall apply to contributions made sections (a)(6), (b)(3), and (d)(8) of section 408 of paragraph (F), and after December 31, 2009. the Internal Revenue Code of 1986, at the elec- (3) by adding at the end the following new tion of the taxpayer (at such time and in such SEC. 741. ENHANCED CHARITABLE DEDUCTION subparagraph: FOR CONTRIBUTIONS OF BOOK IN- manner as prescribed by the Secretary of the ‘‘(G) $3,500,000,000 for 2010 and 2011.’’. VENTORIES TO PUBLIC SCHOOLS. Treasury) any qualified charitable distribution (b) CONFORMING AMENDMENT.—Paragraph (3) (a) IN GENERAL.—Clause (iv) of section made after December 31, 2010, and before Feb- of section 45D(f) is amended by striking ‘‘2014’’ 170(e)(3)(D) is amended by striking ‘‘December ruary 1, 2011, shall be deemed to have been and inserting ‘‘2016’’. 31, 2009’’ and inserting ‘‘December 31, 2011’’. made on December 31, 2010. (c) EFFECTIVE DATE.—The amendments made (b) EFFECTIVE DATE.—The amendment made SEC. 726. LOOK-THRU OF CERTAIN REGULATED by this section shall apply to calendar years be- by this section shall apply to contributions made INVESTMENT COMPANY STOCK IN ginning after 2009. after December 31, 2009. DETERMINING GROSS ESTATE OF NONRESIDENTS. SEC. 734. RAILROAD TRACK MAINTENANCE CRED- SEC. 742. ENHANCED CHARITABLE DEDUCTION FOR CORPORATE CONTRIBUTIONS (a) IN GENERAL.—Paragraph (3) of section IT. (a) IN GENERAL.—Subsection (f) of section 45G OF COMPUTER INVENTORY FOR EDU- 2105(d) is amended by striking ‘‘December 31, CATIONAL PURPOSES. 2009’’ and inserting ‘‘December 31, 2011’’. is amended by striking ‘‘January 1, 2010’’ and (a) IN GENERAL.—Subparagraph (G) of section (b) EFFECTIVE DATE.—The amendment made inserting ‘‘January 1, 2012’’. 170(e)(6) is amended by striking ‘‘December 31, by this section shall apply to estates of dece- (b) EFFECTIVE DATE.—The amendment made 2009’’ and inserting ‘‘December 31, 2011’’. dents dying after December 31, 2009. by this section shall apply to expenditures paid or incurred in taxable years beginning after De- (b) EFFECTIVE DATE.—The amendment made SEC. 727. PARITY FOR EXCLUSION FROM INCOME by this section shall apply to contributions made FOR EMPLOYER-PROVIDED MASS cember 31, 2009. in taxable years beginning after December 31, TRANSIT AND PARKING BENEFITS. SEC. 735. MINE RESCUE TEAM TRAINING CREDIT. 2009. (a) IN GENERAL.—Paragraph (2) of section (a) IN GENERAL.—Subsection (e) of section 45N 132(f) is amended by striking ‘‘January 1, 2011’’ is amended by striking ‘‘December 31, 2009’’ and SEC. 743. ELECTION TO EXPENSE MINE SAFETY EQUIPMENT. and inserting ‘‘January 1, 2012’’. inserting ‘‘December 31, 2011’’. (a) IN GENERAL.—Subsection (g) of section (b) EFFECTIVE DATE.—The amendment made (b) EFFECTIVE DATE.—The amendment made by this section shall apply to months after De- by this section shall apply to taxable years be- 179E is amended by striking ‘‘December 31, 2009’’ cember 31, 2010. ginning after December 31, 2009. and inserting ‘‘December 31, 2011’’. SEC. 728. REFUNDS DISREGARDED IN THE ADMIN- (b) EFFECTIVE DATE.—The amendment made SEC. 736. EMPLOYER WAGE CREDIT FOR EMPLOY- by this section shall apply to property placed in ISTRATION OF FEDERAL PROGRAMS EES WHO ARE ACTIVE DUTY MEM- AND FEDERALLY ASSISTED PRO- BERS OF THE UNIFORMED SERV- service after December 31, 2009. GRAMS. ICES. SEC. 744. SPECIAL EXPENSING RULES FOR CER- (a) IN GENERAL.—Subchapter A of chapter 65 (a) IN GENERAL.—Subsection (f) of section 45P TAIN FILM AND TELEVISION PRO- is amended by adding at the end the following is amended by striking ‘‘December 31, 2009’’ and DUCTIONS. new section: inserting ‘‘December 31, 2011’’. (a) IN GENERAL.—Subsection (f) of section 181 ‘‘SEC. 6409. REFUNDS DISREGARDED IN THE AD- (b) EFFECTIVE DATE.—The amendment made is amended by striking ‘‘December 31, 2009’’ and MINISTRATION OF FEDERAL PRO- by this section shall apply to payments made inserting ‘‘December 31, 2011’’. GRAMS AND FEDERALLY ASSISTED after December 31, 2009. (b) EFFECTIVE DATE.—The amendment made PROGRAMS. by this section shall apply to productions com- SEC. 737. 15-YEAR STRAIGHT-LINE COST RECOV- ‘‘(a) IN GENERAL.—Notwithstanding any other mencing after December 31, 2009. provision of law, any refund (or advance pay- ERY FOR QUALIFIED LEASEHOLD IM- PROVEMENTS, QUALIFIED RES- SEC. 745. EXPENSING OF ENVIRONMENTAL REME- ment with respect to a refundable credit) made TAURANT BUILDINGS AND IMPROVE- DIATION COSTS. to any individual under this title shall not be MENTS, AND QUALIFIED RETAIL IM- (a) IN GENERAL.—Subsection (h) of section 198 taken into account as income, and shall not be PROVEMENTS. is amended by striking ‘‘December 31, 2009’’ and taken into account as resources for a period of (a) IN GENERAL.—Clauses (iv), (v), and (ix) of inserting ‘‘December 31, 2011’’. 12 months from receipt, for purposes of deter- section 168(e)(3)(E) are each amended by strik- (b) EFFECTIVE DATE.—The amendment made mining the eligibility of such individual (or any ing ‘‘January 1, 2010’’ and inserting ‘‘January by this section shall apply to expenditures paid other individual) for benefits or assistance (or 1, 2012’’. or incurred after December 31, 2009. the amount or extent of benefits or assistance) (b) CONFORMING AMENDMENTS.— SEC. 746. DEDUCTION ALLOWABLE WITH RE- under any Federal program or under any State (1) Clause (i) of section 168(e)(7)(A) is amend- SPECT TO INCOME ATTRIBUTABLE or local program financed in whole or in part ed by striking ‘‘if such building is placed in TO DOMESTIC PRODUCTION ACTIVI- with Federal funds. service after December 31, 2008, and before Janu- TIES IN PUERTO RICO. ‘‘(b) TERMINATION.—Subsection (a) shall not ary 1, 2010,’’. (a) IN GENERAL.—Subparagraph (C) of section apply to any amount received after December 31, (2) Paragraph (8) of section 168(e) is amended 199(d)(8) is amended— 2012.’’. by striking subparagraph (E). (1) by striking ‘‘first 4 taxable years’’ and in- (b) CLERICAL AMENDMENT.—The table of sec- (3) Section 179(f)(2) is amended— serting ‘‘first 6 taxable years’’; and tions for such subchapter is amended by adding (A) by striking ‘‘(without regard to the dates (2) by striking ‘‘January 1, 2010’’ and insert- at the end the following new item: specified in subparagraph (A)(i) thereof)’’ in ing ‘‘January 1, 2012’’. ‘‘Sec. 6409. Refunds disregarded in the adminis- subparagraph (B), and (b) EFFECTIVE DATE.—The amendments made tration of Federal programs and (B) by striking ‘‘(without regard to subpara- by this section shall apply to taxable years be- federally assisted programs.’’. graph (E) thereof)’’ in subparagraph (C). ginning after December 31, 2009.

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00071 Fmt 4634 Sfmt 6333 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE H8592 CONGRESSIONAL RECORD — HOUSE December 16, 2010 SEC. 747. MODIFICATION OF TAX TREATMENT OF (2) by striking the last sentence of subsection SEC. 756. AMERICAN SAMOA ECONOMIC DEVELOP- CERTAIN PAYMENTS TO CONTROL- (h)(2). MENT CREDIT. LING EXEMPT ORGANIZATIONS. (b) INCREASED EXCLUSION OF GAIN ON STOCK (a) IN GENERAL.—Subsection (d) of section 119 (a) IN GENERAL.—Clause (iv) of section OF EMPOWERMENT ZONE BUSINESSES.—Subpara- of division A of the Tax Relief and Health Care 512(b)(13)(E) is amended by striking ‘‘December graph (C) of section 1202(a)(2) is amended— Act of 2006 is amended— 31, 2009’’ and inserting ‘‘December 31, 2011’’. (1) by striking ‘‘first 4 taxable years’’ and in- (b) EFFECTIVE DATE.—The amendment made (1) by striking ‘‘December 31, 2014’’ and insert- ing ‘‘December 31, 2016’’; and serting ‘‘first 6 taxable years’’, and by this section shall apply to payments received (2) by striking ‘‘January 1, 2010’’ and insert- (2) by striking ‘‘2014’’ in the heading and in- or accrued after December 31, 2009. ing ‘‘January 1, 2012’’. serting ‘‘2016’’. SEC. 748. TREATMENT OF CERTAIN DIVIDENDS OF (b) EFFECTIVE DATE.—The amendments made (c) TREATMENT OF CERTAIN TERMINATION REGULATED INVESTMENT COMPA- by this section shall apply to taxable years be- NIES. DATES SPECIFIED IN NOMINATIONS.—In the case ginning after December 31, 2009. (a) IN GENERAL.—Paragraphs (1)(C) and of a designation of an empowerment zone the (2)(C) of section 871(k) are each amended by nomination for which included a termination SEC. 757. WORK OPPORTUNITY CREDIT. striking ‘‘December 31, 2009’’ and inserting ‘‘De- date which is contemporaneous with the date (a) IN GENERAL.—Subparagraph (B) of section cember 31, 2011’’. specified in subparagraph (A)(i) of section 51(c)(4) is amended by striking ‘‘August 31, (b) EFFECTIVE DATE.—The amendments made 1391(d)(1) of the Internal Revenue Code of 1986 2011’’ and inserting ‘‘December 31, 2011’’. by this section shall apply to taxable years be- (as in effect before the enactment of this Act), (b) EFFECTIVE DATE.—The amendment made ginning after December 31, 2009. subparagraph (B) of such section shall not by this section shall apply to individuals who SEC. 749. RIC QUALIFIED INVESTMENT ENTITY apply with respect to such designation if, after begin work for the employer after the date of the TREATMENT UNDER FIRPTA. the date of the enactment of this section, the en- enactment of this Act. (a) IN GENERAL.—Clause (ii) of section tity which made such nomination amends the SEC. 758. QUALIFIED ZONE ACADEMY BONDS. 897(h)(4)(A) is amended by striking ‘‘December nomination to provide for a new termination (a) IN GENERAL.—Section 54E(c)(1) is amend- 31, 2009’’ and inserting ‘‘December 31, 2011’’. date in such manner as the Secretary of the ed— (b) EFFECTIVE DATE.— Treasury (or the Secretary’s designee) may pro- (1) by striking ‘‘2008 and’’ and inserting (1) IN GENERAL.—The amendment made by vide. ‘‘2008,’’, and subsection (a) shall take effect on January 1, (d) EFFECTIVE DATE.—The amendments made (2) by inserting ‘‘and $400,000,000 for 2011’’ 2010. Notwithstanding the preceding sentence, by this section shall apply to periods after De- after ‘‘2010,’’. such amendment shall not apply with respect to cember 31, 2009. (b) REPEAL OF REFUNDABLE CREDIT FOR the withholding requirement under section 1445 SEC. 754. TAX INCENTIVES FOR INVESTMENT IN QZABS.—Paragraph (3) of section 6431(f) is of the Internal Revenue Code of 1986 for any amended by inserting ‘‘determined without re- payment made before the date of the enactment THE DISTRICT OF COLUMBIA. (a) IN GENERAL.—Subsection (f) of section 1400 gard to any allocation relating to the national of this Act. zone academy bond limitation for 2011 or any MOUNTS WITHHELD ON OR BEFORE DATE is amended by striking ‘‘December 31, 2009’’ (2) A carryforward of such allocation’’ after ‘‘54E)’’ OF ENACTMENT.—In the case of a regulated in- each place it appears and inserting ‘‘December in subparagraph (A)(iii). vestment company— 31, 2011’’. (c) EFFECTIVE DATE.—The amendments made (A) which makes a distribution after December (b) TAX-EXEMPT DC EMPOWERMENT ZONE by this section shall apply to obligations issued 31, 2009, and before the date of the enactment of BONDS.—Subsection (b) of section 1400A is after December 31, 2010. this Act; and amended by striking ‘‘December 31, 2009’’ and (B) which would (but for the second sentence inserting ‘‘December 31, 2011’’. SEC. 759. MORTGAGE INSURANCE PREMIUMS. of paragraph (1)) have been required to with- (c) ZERO-PERCENT CAPITAL GAINS RATE.— (a) IN GENERAL.—Clause (iv) of section hold with respect to such distribution under sec- (1) ACQUISITION DATE.—Paragraphs (2)(A)(i), 163(h)(3)(E) is amended by striking ‘‘December tion 1445 of such Code, (3)(A), (4)(A)(i), and (4)(B)(i)(I) of section 31, 2010’’ and inserting ‘‘December 31, 2011’’. such investment company shall not be liable to 1400B(b) are each amended by striking ‘‘Janu- (b) EFFECTIVE DATE.—The amendment made any person to whom such distribution was made ary 1, 2010’’ and inserting ‘‘January 1, 2012’’. by this section shall apply to amounts paid or for any amount so withheld and paid over to (2) LIMITATION ON PERIOD OF GAINS.— accrued after December 31, 2010. the Secretary of the Treasury. (A) IN GENERAL.—Paragraph (2) of section SEC. 760. TEMPORARY EXCLUSION OF 100 PER- SEC. 750. EXCEPTIONS FOR ACTIVE FINANCING 1400B(e) is amended— CENT OF GAIN ON CERTAIN SMALL BUSINESS STOCK. INCOME. (i) by striking ‘‘December 31, 2014’’ and insert- (a) IN GENERAL.—Sections 953(e)(10) and (a) IN GENERAL.—Paragraph (4) of section ing ‘‘December 31, 2016’’; and 954(h)(9) are each amended by striking ‘‘Janu- 1202(a) is amended— (ii) by striking ‘‘2014’’ in the heading and in- ary 1, 2010’’ and inserting ‘‘January 1, 2012’’. (1) by striking ‘‘January 1, 2011’’ and insert- serting ‘‘2016’’. (b) CONFORMING AMENDMENT.—Section ing ‘‘January 1, 2012’’, and (B) PARTNERSHIPS AND S-CORPS.—Paragraph 953(e)(10) is amended by striking ‘‘December 31, (2) by inserting ‘‘AND 2011’’ after ‘‘2010’’ in the 2009’’ and inserting ‘‘December 31, 2011’’. (2) of section 1400B(g) is amended by striking heading thereof. (c) EFFECTIVE DATE.—The amendments made ‘‘December 31, 2014’’ and inserting ‘‘December (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years of 31, 2016’’. by this section shall apply to stock acquired foreign corporations beginning after December (d) FIRST-TIME HOMEBUYER CREDIT.—Sub- after December 31, 2010. 31, 2009, and to taxable years of United States section (i) of section 1400C is amended by strik- ing ‘‘January 1, 2010’’ and inserting ‘‘January Subtitle D—Temporary Disaster Relief shareholders with or within which any such Provisions taxable year of such foreign corporation ends. 1, 2012’’. SEC. 751. LOOK-THRU TREATMENT OF PAYMENTS (e) EFFECTIVE DATES.— PART BETWEEN RELATED CONTROLLED (1) IN GENERAL.—Except as otherwise provided Subpart A—New York Liberty Zone FOREIGN CORPORATIONS UNDER in this subsection, the amendments made by this SEC. 761. TAX-EXEMPT BOND FINANCING. FOREIGN PERSONAL HOLDING COM- section shall apply to periods after December 31, (a) IN GENERAL.—Subparagraph (D) of section PANY RULES. 2009. (a) IN GENERAL.—Subparagraph (C) of section 1400L(d)(2) is amended by striking ‘‘January 1, (2) TAX-EXEMPT DC EMPOWERMENT ZONE 954(c)(6) is amended by striking ‘‘January 1, 2010’’ and inserting ‘‘January 1, 2012’’. BONDS.—The amendment made by subsection (b) (b) EFFECTIVE DATE.—The amendment made 2010’’ and inserting ‘‘January 1, 2012’’. shall apply to bonds issued after December 31, (b) EFFECTIVE DATE.—The amendment made by this section shall apply to bonds issued after 2009. by this section shall apply to taxable years of December 31, 2009. (3) ACQUISITION DATES FOR ZERO-PERCENT foreign corporations beginning after December Subpart B—GO Zone 31, 2009, and to taxable years of United States CAPITAL GAINS RATE.—The amendments made by subsection (c) shall apply to property acquired SEC. 762. INCREASE IN REHABILITATION CREDIT. shareholders with or within which any such (a) IN GENERAL.—Subsection (h) of section taxable year of such foreign corporation ends. or substantially improved after December 31, 2009. 1400N is amended by striking ‘‘December 31, SEC. 752. BASIS ADJUSTMENT TO STOCK OF S 2009’’ and inserting ‘‘December 31, 2011’’. CORPS MAKING CHARITABLE CON- (4) HOMEBUYER CREDIT.—The amendment (b) EFFECTIVE DATE.—The amendment made TRIBUTIONS OF PROPERTY. made by subsection (d) shall apply to homes by this section shall apply to amounts paid or (a) IN GENERAL.—Paragraph (2) of section purchased after December 31, 2009. incurred after December 31, 2009. 1367(a) is amended by striking ‘‘December 31, SEC. 755. TEMPORARY INCREASE IN LIMIT ON 2009’’ and inserting ‘‘December 31, 2011’’. COVER OVER OF RUM EXCISE TAXES SEC. 763. LOW-INCOME HOUSING CREDIT RULES (b) EFFECTIVE DATE.—The amendment made TO PUERTO RICO AND THE VIRGIN FOR BUILDINGS IN GO ZONES. by this section shall apply to contributions made ISLANDS. Section 1400N(c)(5) is amended by striking in taxable years beginning after December 31, (a) IN GENERAL.—Paragraph (1) of section ‘‘January 1, 2011’’ and inserting ‘‘January 1, 2009. 7652(f) is amended by striking ‘‘January 1, 2010’’ 2012’’. SEC. 753. EMPOWERMENT ZONE TAX INCENTIVES. and inserting ‘‘January 1, 2012’’. SEC. 764. TAX-EXEMPT BOND FINANCING. (a) IN GENERAL.—Section 1391 is amended— (b) EFFECTIVE DATE.—The amendment made (a) IN GENERAL.—Paragraphs (2)(D) and (1) by striking ‘‘December 31, 2009’’ in sub- by this section shall apply to distilled spirits (7)(C) of section 1400N(a) are each amended by section (d)(1)(A)(i) and inserting ‘‘December 31, brought into the United States after December striking ‘‘January 1, 2011’’ and inserting ‘‘Janu- 2011’’; and 31, 2009. ary 1, 2012’’.

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(b) CONFORMING AMENDMENTS.—Sections 2505(a) of the Internal Revenue Code of 1986 ‘‘(i) such dollar amount, multiplied by 702(d)(1) and 704(a) of the Heartland Disaster is amended to read as such paragraph would ‘‘(ii) the cost-of-living adjustment deter- Tax Relief Act of 2008 are each amended by read if section 521(b)(2) of the Economic mined under section 1(f)(3) for such calendar striking ‘‘January 1, 2011’’ each place it appears Growth and Tax Relief Reconciliation Act of year by substituting ‘calendar year 2010’ for and inserting ‘‘January 1, 2012’’. 2001 had never been enacted. ‘calendar year 1992’ in subparagraph (B) SEC. 765. BONUS DEPRECIATION DEDUCTION AP- (c) SPECIAL ELECTION WITH RESPECT TO ES- thereof. PLICABLE TO THE GO ZONE. TATES OF DECEDENTS DYING IN 2010.—Not- If any amount as adjusted under the pre- (a) IN GENERAL.—Paragraph (6) of section withstanding subsection (a), in the case of an ceding sentence is not a multiple of $10,000, 1400N(d) is amended— estate of a decedent dying after December 31, such amount shall be rounded to the nearest (1) by striking ‘‘December 31, 2010’’ both 2009, and before January 1, 2011, the executor multiple of $10,000.’’. places it appears in subparagraph (B) and in- (within the meaning of section 2203 of the In- (2) MAXIMUM ESTATE TAX RATE EQUAL TO 45 serting ‘‘December 31, 2011’’, and ternal Revenue Code of 1986) may elect to PERCENT.—Subsection (c) of section 2001 is (2) by striking ‘‘January 1, 2010’’ in the head- apply such Code as though the amendments amended— ing and the text of subparagraph (D) and in- made by subsection (a) do not apply with re- (A) by striking ‘‘Over $1,500,000’’ and all serting ‘‘January 1, 2012’’. spect to chapter 11 of such Code and with re- that follows in the table contained in para- spect to property acquired or passing from (b) EFFECTIVE DATE.—The amendment made graph (1) and inserting the following: by this section shall apply to property placed in such decedent (within the meaning of section 1014(b) of such Code). Such election shall be ‘‘Over $1,500,000 ..... $555,800 plus 45 percent service after December 31, 2009. made at such time and in such manner as the of the excess of such TITLE VIII—BUDGETARY PROVISIONS Secretary of the Treasury or the Secretary’s amount over SEC. 801. DETERMINATION OF BUDGETARY EF- delegate shall provide. Such an election once $1,500,000.’’, FECTS. made shall be revocable only with the con- The budgetary effects of this Act, for the pur- sent of the Secretary of the Treasury or the (B) by striking ‘‘(1) IN GENERAL.—’’, and pose of complying with the Statutory Pay-As- Secretary’s delegate. For purposes of section (C) by striking paragraph (2). (b) MODIFICATIONS OF GIFT TAX RATE.— You-Go Act of 2010, shall be determined by ref- 2652(a)(1) of such Code, the determination of (1) IN GENERAL.—On and after January 1, erence to the latest statement titled ‘‘Budgetary whether any property is subject to the tax 2011, subsection (a) of section 2502 is amended Effects of PAYGO Legislation’’ for this Act, imposed by such chapter 11 shall be made to read as such subsection would read if sec- jointly submitted for printing in the Congres- without regard to any election made under tion 511(d) of the Economic Growth and Tax sional Record by the Chairmen of the House and this subsection. Relief Reconciliation Act of 2001 had never Senate Budget Committees, provided that such (d) EXTENSION OF TIME FOR PERFORMING been enacted. statement has been submitted prior to the vote CERTAIN ACTS.— (2) APPLICABLE EXCLUSION AMOUNT FOR GIFT on passage in the House acting first on this con- (1) ESTATE TAX.—In the case of the estate TAX.— ference report or amendment between the of a decedent dying after December 31, 2009, (A) INFLATION ADJUSTMENT.—Section 2505 is Houses. and before the date of the enactment of this Act, the due date for— amended by adding at the end the following SEC. 802. EMERGENCY DESIGNATIONS. (A) filing any return under section 6018 of new subsection: (a) STATUTORY PAYGO.—This Act is des- the Internal Revenue Code of 1986 (including ‘‘(d) INFLATION ADJUSTMENT.—In the case ignated as an emergency requirement pursuant any election required to be made on such a of any calendar year after 2011, the dollar to section 4(g) of the Statutory Pay-As-You-Go return) as such section is in effect after the amount in subsection (a)(1) shall be in- Act of 2010 (Public Law 111–139; 2 U.S.C. 933(g)) date of the enactment of this Act without re- creased by an amount equal to— except to the extent that the budgetary effects of gard to any election under subsection (c), ‘‘(1) such dollar amount, multiplied by this Act are determined to be subject to the cur- (B) making any payment of tax under ‘‘(2) the cost-of-living adjustment deter- rent policy adjustments under sections 4(c) and chapter 11 of such Code, and mined under section 1(f)(3) for such calendar 7 of the Statutory Pay-As-You-Go Act. (C) making any disclaimer described in year by substituting ‘calendar year 2010’ for (b) SENATE.—In the Senate, this Act is des- section 2518(b) of such Code of an interest in ‘calendar year 1992’ in subparagraph (B) ignated as an emergency requirement pursuant property passing by reason of the death of thereof. to section 403(a) of S. Con. Res. 13 (111th Con- such decedent, If any amount as adjusted under the pre- gress), the concurrent resolution on the budget shall not be earlier than the date which is 9 ceding sentence is not a multiple of $10,000, for fiscal year 2010. months after the date of the enactment of such amount shall be rounded to the nearest (c) HOUSE OF REPRESENTATIVES.—In the this Act. multiple of $10,000.’’. House of Representatives, every provision of this (2) GENERATION-SKIPPING TAX.—In the case (B) EFFECTIVE DATE.—The amendment Act is expressly designated as an emergency for of any generation-skipping transfer made made by this paragraph shall apply to cal- purposes of pay-as-you-go principles except to after December 31, 2009, and before the date endar years beginning after 2011. the extent that any such provision is subject to of the enactment of this Act, the due date (c) MODIFICATION OF GENERATION-SKIPPING the current policy adjustments under section for filing any return under section 2662 of the TRANSFER TAX.—In the case of any genera- 4(c) of the Statutory Pay-As-You-Go Act of Internal Revenue Code of 1986 (including any tion-skipping transfer made after December 2010. election required to be made on such a re- 31, 2009, and before January 1, 2011, the appli- The Acting CHAIR. No amendment is turn) shall not be earlier than the date cable rate determined under section 2641(a) which is 9 months after the date of the en- of the Internal Revenue Code of 1986 shall be in order except the amendment printed zero. in the report accompanying House Res- actment of this Act. (e) EFFECTIVE DATE.—Except as otherwise (d) MODIFICATIONS OF ESTATE AND GIFT olution 1766, which may be offered only provided in this section, the amendments TAXES TO REFLECT DIFFERENCES IN CREDIT by Representative LEVIN of Michigan made by this section shall apply to estates of RESULTING FROM DIFFERENT TAX RATES.— or his designee and shall not be debat- decedents dying, and transfers made, after (1) ESTATE TAX.— able. December 31, 2009. (A) IN GENERAL.—Section 2001(b)(2) is amended by striking ‘‘if the provisions of AMENDMENT OFFERED BY MR. LEVIN SEC. 302. MODIFICATIONS TO ESTATE, GIFT, AND GENERATION-SKIPPING TRANSFER subsection (c) (as in effect at the decedent’s Mr. LEVIN. I have an amendment at TAXES. death)’’ and inserting ‘‘if the modifications the desk. (a) MODIFICATIONS TO ESTATE TAX.— described in subsection (g)’’. The Clerk will designate the amend- (1) $3,500,000 APPLICABLE EXCLUSION (B) MODIFICATIONS.—Section 2001 is amend- ment. AMOUNT.—Subsection (c) of section 2010 is ed by adding at the end the following new The text of the amendment is as fol- amended to read as follows: subsection: lows: ‘‘(c) APPLICABLE CREDIT AMOUNT.— ‘‘(g) MODIFICATIONS TO GIFT TAX PAYABLE ‘‘(1) IN GENERAL.—For purposes of this sec- TO REFLECT DIFFERENT TAX RATES.—For pur- Amendment printed in House Report 111– tion, the applicable credit amount is the poses of applying subsection (b)(2) with re- 682 offered by Mr. LEVIN: amount of the tentative tax which would be spect to 1 or more gifts, the rates of tax Strike title III and insert the following: determined under section 2001(c) if the under subsection (c) in effect at the dece- TITLE III—TEMPORARY ESTATE TAX amount with respect to which such tentative dent’s death shall, in lieu of the rates of tax RELIEF tax is to be computed were equal to the ap- in effect at the time of such gifts, be used SEC. 301. REINSTATEMENT OF ESTATE TAX; RE- plicable exclusion amount. both to compute— PEAL OF CARRYOVER BASIS. ‘‘(2) APPLICABLE EXCLUSION AMOUNT.— ‘‘(1) the tax imposed by chapter 12 with re- (a) IN GENERAL.—Each provision of law ‘‘(A) IN GENERAL.—For purposes of this sub- spect to such gifts, and amended by subtitle A or E of title V of the section, the applicable exclusion amount is ‘‘(2) the credit allowed against such tax Economic Growth and Tax Relief Reconcili- $3,500,000. under section 2505, including in computing— ation Act of 2001 is amended to read as such ‘‘(B) INFLATION ADJUSTMENT.—In the case ‘‘(A) the applicable credit amount under provision would read if such subtitle had of any decedent dying in a calendar year section 2505(a)(1), and never been enacted. after 2011, the dollar amount in subpara- ‘‘(B) the sum of the amounts allowed as a (b) CONFORMING AMENDMENT.—On and after graph (A) shall be increased by an amount credit for all preceding periods under section January 1, 2011, paragraph (1) of section equal to— 2505(a)(2).’’.

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(2) GIFT TAX.—Section 2505(a) is amended Quigley Serrano Tonko ANSWERED ‘‘PRESENT’’—1 Rangel Sestak Towns by adding at the end the following new flush Lipinski sentence: Richardson Shea-Porter Tsongas Rodriguez Sherman ‘‘For purposes of applying paragraph (2) for Van Hollen NOT VOTING—11 Rothman (NJ) Sires Vela´ zquez any calendar year, the rates of tax in effect Berry Johnson, E. B. Ryan (OH) Roybal-Allard Slaughter Visclosky Brown (SC) Marchant Wamp under section 2502(a)(2) for such calendar Rush Smith (WA) Wasserman Gerlach McCarthy (NY) Young (FL) year shall, in lieu of the rates of tax in effect Sablan Speier Schultz ´ Granger Pierluisi for preceding calendar periods, be used in de- Sanchez, Linda Spratt Waters T. Stark termining the amounts allowable as a credit Watson Sanchez, Loretta Stupak b 2341 under this section for all preceding calendar Watt Sarbanes Sutton Waxman Messrs. BRIGHT and HARE changed periods.’’. Schakowsky Tanner (e) CONFORMING AMENDMENT.—Section 2511 Schauer Taylor Weiner their vote from ‘‘aye’’ to ‘‘no.’’ is amended by striking subsection (c). Schiff Thompson (CA) Welch Ms. BORDALLO, Mrs. NAPOLITANO Woolsey (f) EFFECTIVE DATE.—Except as otherwise Schwartz Thompson (MS) and Mr. SMITH of Washington changed Wu provided in this section, the amendments Scott (GA) Tierney their vote from ‘‘no’’ to ‘‘aye.’’ Scott (VA) Titus Yarmuth made by this section shall apply to estates of So the amendment was rejected. decedents dying, generation-skipping trans- NOES—233 The result of the vote was announced fers, and gifts made, after December 31, 2009. Aderholt Fleming Mollohan as above recorded. SEC. 303. APPLICATION OF EGTRRA SUNSET TO Adler (NJ) Forbes Moran (KS) THIS TITLE. PERSONAL EXPLANATION Akin Fortenberry Murphy, Tim Section 901 of the Economic Growth and Alexander Foxx Myrick Mr. ORTIZ. Mr. Chair, on rollcall Nos. 644, Tax Relief Reconciliation Act of 2001 shall Altmire Franks (AZ) Neugebauer 645, and 646, I was inadvertently detained. apply to the amendments made by this title. Austria Frelinghuysen Nunes Had I been present, I would have voted ‘‘yes.’’ Bachmann Gallegly Nye The Acting CHAIR. There being no The Acting CHAIR. The amendment Bachus Garrett (NJ) Olson is not debatable. Barrett (SC) Giffords Ortiz further amendment in order, under the The question is on the amendment Barrow Gingrey (GA) Owens rule, the Committee rises. offered by the gentleman from Michi- Bartlett Gohmert Pastor (AZ) Accordingly, the Committee rose; Barton (TX) Goodlatte Paul and the Speaker pro tempore (Mr. gan. Bean Gordon (TN) Paulsen The question was taken; and the Act- Becerra Graves (GA) Pence ALTMIRE) having assumed the chair, ing Chair announced that the ayes ap- Berkley Graves (MO) Peterson Mr. SCHIFF, Acting Chair of the Com- Biggert Griffith Petri mittee of the Whole House on the State peared to have it. Bilbray Guthrie Pitts of the Union, reported that that Com- RECORDED VOTE Bilirakis Hall (TX) Platts Bishop (GA) Halvorson mittee, having had under consideration Mr. LEVIN. Mr. Chairman, I demand Poe (TX) Bishop (UT) Hare Posey the Senate amendment to the House a recorded vote. Blackburn Harper Price (GA) amendment to the Senate amendment A recorded vote was ordered. Blunt Hastings (WA) Putnam Boehner Heller to the bill (H.R. 4853) to amend the In- The vote was taken by electronic de- Radanovich Bonner Hensarling Rahall ternal Revenue Code of 1986 to extend vice, and there were—ayes 194, noes 233, Bono Mack Herger Reed the funding and expenditure authority Boozman Herseth Sandlin answered ‘‘present’’ 1, not voting 11, as Rehberg of the Airport and Airway Trust Fund, follows: Boren Hinojosa Reichert Boswell Hoekstra Reyes to amend title 49, United States Code, [Roll No. 646] Boucher Holden Roe (TN) to extend authorizations for the air- Boustany Hunter Rogers (AL) AYES—194 Brady (TX) Inglis port improvement program, and for Rogers (KY) Ackerman Ellison Larson (CT) Bright Issa other purposes, and, pursuant to House Rogers (MI) Andrews Engel Lee (CA) Broun (GA) Jenkins Rohrabacher Resolution 1766, reported the Senate Arcuri Eshoo Levin Brown-Waite, Johnson (IL) Rooney amendment back to the House. Baca Etheridge Lewis (GA) Ginny Johnson, Sam Ros-Lehtinen Baird Faleomavaega Loebsack Buchanan Jones The SPEAKER pro tempore. Pursu- Roskam Baldwin Farr Lofgren, Zoe Burgess Jordan (OH) ant to section 4 of House Resolution Ross Berman Fattah Lowey Burton (IN) Kagen Royce 1766, pending is a motion that the Bishop (NY) Filner Luja´ n Buyer King (IA) Ruppersberger Blumenauer Foster Lynch Calvert King (NY) House concur in the Senate amend- Ryan (WI) Boccieri Frank (MA) Maffei Camp Kingston ment to the House amendment to the Salazar Bordallo Fudge Maloney Campbell Kirkpatrick (AZ) Scalise Senate amendment. Boyd Garamendi Markey (CO) Cantor Kissell The question is on the motion. Brady (PA) Gonzalez Markey (MA) Cao Kline (MN) Schmidt Braley (IA) Grayson Marshall Capito Kosmas Schock The question was taken; and the Brown, Corrine Green, Al Matsui Cardoza Kratovil Schrader Speaker pro tempore announced that Butterfield Green, Gene McCollum Carney Lamborn Sensenbrenner the ayes appeared to have it. Capps Grijalva McDermott Carter Lance Sessions Capuano Gutierrez McGovern Cassidy Latham Shadegg RECORDED VOTE Carnahan Hall (NY) McNerney Castle LaTourette Shimkus Mr. LEVIN. Mr. Speaker, I demand a Shuler Carson (IN) Harman Meek (FL) Chaffetz Latta recorded vote. Castor (FL) Hastings (FL) Meeks (NY) Chandler Lee (NY) Shuster Childers Heinrich Melancon Clay Lewis (CA) Simpson A recorded vote was ordered. Christensen Higgins Michaud Coble Linder Skelton The SPEAKER pro tempore. Pursu- Chu Hill Miller (NC) Coffman (CO) LoBiondo Smith (NE) ant to clause 8 of rule XX, this 15- Clarke Himes Miller, George Cole Lucas Smith (NJ) Cleaver Hinchey Moore (KS) Conaway Luetkemeyer Smith (TX) minute vote on the motion to concur in Clyburn Hirono Moore (WI) Connolly (VA) Lummis Snyder the Senate amendment will be followed Cohen Hodes Moran (VA) Costa Lungren, Daniel Space by a 5-minute vote on the motion to Conyers Holt Murphy (CT) Costello E. Stearns suspend the rules on House Resolution Cooper Honda Murphy (NY) Crenshaw Mack Stutzman Courtney Hoyer Murphy, Patrick Critz Manzullo Sullivan 20, if ordered. Crowley Inslee Nadler (NY) Cuellar Matheson Teague The vote was taken by electronic de- Cummings Israel Napolitano Culberson McCarthy (CA) Terry vice, and there were—ayes 277, noes 148, Dahlkemper Jackson (IL) Neal (MA) Davis (AL) McCaul Thompson (PA) Davis (CA) Jackson Lee Norton Davis (KY) McClintock Thornberry not voting 8, as follows: Davis (IL) (TX) Oberstar Davis (TN) McCotter Tiahrt [Roll No. 647] DeFazio Johnson (GA) Obey Dent McHenry Tiberi AYES—277 DeGette Kanjorski Olver Diaz-Balart, L. McIntyre Turner Delahunt Kaptur Pallone Diaz-Balart, M. McKeon Upton Aderholt Barrett (SC) Bishop (UT) DeLauro Kennedy Pascrell Djou McMahon Walden Adler (NJ) Barrow Blackburn Deutch Kildee Payne Dreier McMorris Walz Akin Bartlett Blunt Dicks Kilpatrick (MI) Perlmutter Duncan Rodgers Westmoreland Alexander Bean Boccieri Dingell Kilroy Perriello Edwards (TX) Mica Whitfield Altmire Berkley Boehner Doggett Kind Peters Ehlers Miller (FL) Wilson (OH) Andrews Berman Bonner Donnelly (IN) Klein (FL) Pingree (ME) Ellsworth Miller (MI) Wilson (SC) Arcuri Biggert Bono Mack Doyle Kucinich Polis (CO) Emerson Miller, Gary Wittman Austria Bilbray Boozman Driehaus Langevin Pomeroy Fallin Minnick Wolf Baca Bishop (GA) Boren Edwards (MD) Larsen (WA) Price (NC) Flake Mitchell Young (AK) Bachus Bishop (NY) Boswell

VerDate Mar 15 2010 03:07 Jun 10, 2011 Jkt 099060 PO 00000 Frm 00074 Fmt 4634 Sfmt 0634 E:\RECORD10\RECFILES\H16DE0.REC H16DE0 bjneal on DSK2TWX8P1PROD with CONG-REC-ONLINE December 16, 2010 CONGRESSIONAL RECORD — HOUSE H8595 Boucher Heller Pallone Forbes Lewis (GA) Roybal-Allard The SPEAKER pro tempore. Is there Boustany Hensarling Pascrell Fortenberry Linder Rush Brady (PA) Herger Pastor (AZ) Foxx Lofgren, Zoe Sa´ nchez, Linda objection to the request of the gen- Brady (TX) Herseth Sandlin Paul Frank (MA) Luja´ n T. tleman from Colorado? Bright Higgins Paulsen Franks (AZ) Lynch Sanchez, Loretta There was no objection. Brown-Waite, Hill Perriello Fudge Mack Schmidt f Ginny Himes Peters Garamendi Markey (MA) Schrader Buchanan Hinojosa Peterson Garrett (NJ) Matsui Scott (VA) REPORT ON RESOLUTION WAIVING Burton (IN) Hodes Petri Gingrey (GA) McCollum Serrano REQUIREMENT OF CLAUSE 6(a) Buyer Holden Pitts Gohmert McCotter Shadegg Calvert Hoyer Platts Graves (GA) McDermott Shea-Porter OF RULE XIII WITH RESPECT TO Camp Hunter Polis (CO) Grayson McGovern Simpson CONSIDERATION OF CERTAIN Cantor Inglis Posey Green, Gene Melancon Slaughter RESOLUTIONS AND PROVIDING Grijalva Michaud Smith (WA) Cao Israel Price (GA) FOR CONSIDERATION OF MO- Capito Issa Price (NC) Hastings (FL) Miller (NC) Speier Capps Jenkins Putnam Heinrich Miller, George Stark TIONS TO SUSPEND THE RULES Cardoza Johnson (GA) Quigley Hinchey Moore (WI) Stupak Mr. POLIS, from the Committee on Carnahan Johnson (IL) Radanovich Hirono Moran (KS) Sullivan Carney Johnson, Sam Rahall Hoekstra Moran (VA) Tanner Rules, submitted a privileged report Carson (IN) Jones Reed Holt Murphy (CT) Taylor (Rept. No. 111–685) on the resolution (H. Carter Kennedy Reichert Honda Nadler (NY) Thompson (CA) Res. 1771) waiving a requirement of Cassidy Kildee Inslee Napolitano Thompson (MS) Richardson clause 6(a) of rule XIII with respect to Castle King (NY) Roe (TN) Jackson (IL) Neal (MA) Tierney Castor (FL) Kirkpatrick (AZ) Rogers (KY) Jackson Lee Obey Tonko consideration of certain resolutions re- Chandler Kissell Rogers (MI) (TX) Olver Towns ported from the Committee on Rules Childers Klein (FL) Rohrabacher Jordan (OH) Ortiz Van Hollen Clay Kline (MN) Kagen Payne Vela´ zquez and providing for consideration of mo- Rooney tions to suspend the rules, which was Coble Kosmas Ros-Lehtinen Kanjorski Pence Visclosky Coffman (CO) Kratovil Roskam Kaptur Perlmutter Waters referred to the House Calendar and or- Cole Kucinich Ross Kilpatrick (MI) Pingree (ME) Watson dered to be printed. Kilroy Poe (TX) Conaway Lance Rothman (NJ) Weiner Kind Pomeroy Welch f Connolly (VA) Langevin Royce King (IA) Rangel Wilson (SC) Costa Larsen (WA) Ruppersberger Kingston Rehberg Wolf LEAVE OF ABSENCE Courtney Latham Ryan (OH) Crenshaw LaTourette Lamborn Reyes Woolsey Ryan (WI) By unanimous consent, leave of ab- Critz Latta Larson (CT) Rodriguez Wu Salazar Crowley Lee (NY) Lee (CA) Rogers (AL) Yarmuth sence was granted to: Sarbanes Cuellar Levin Mr. PLATTS (at the request of Mr. Scalise Culberson Lewis (CA) NOT VOTING—8 BOEHNER) for until 3 p.m. today on ac- Schakowsky Davis (AL) Lipinski Schauer Berry Johnson, E. B. Wamp count of attending the funeral for Davis (CA) LoBiondo Brown (SC) Marchant Schiff Young (FL) Dallastown Mayor Beverly Scott. Davis (IL) Loebsack Granger McCarthy (NY) Schock Davis (KY) Lowey f Schwartz Davis (TN) Lucas Scott (GA) b 0000 Delahunt Luetkemeyer SENATE ENROLLED BILLS SIGNED Sensenbrenner Dent Lummis So the motion was agreed to. The Speaker announced her signa- Deutch Lungren, Daniel Sessions The result of the vote was announced Sestak ture to enrolled bills of the Senate of Diaz-Balart, L. E. as above recorded. Diaz-Balart, M. Maffei Sherman the following titles: Dicks Maloney Shimkus A motion to reconsider was laid on Shuler S. 1405. An act to redesignate the Long- Dingell Manzullo the table. fellow National Historic Site, Massachusetts, Djou Markey (CO) Shuster Donnelly (IN) Marshall Sires f as the ‘‘Longfellow House-Washington’s Doyle Matheson Skelton Headquarters National Historic Site’’. Dreier McCarthy (CA) Smith (NE) CALLING ON STATE DEPARTMENT S. 1774. An act for the relief of Hotaru Driehaus McCaul Smith (NJ) TO LIST VIETNAM AS A RELI- Nakama Ferschke. Smith (TX) S. 4010. An act for the relief of Shigeru Ya- Duncan McClintock GIOUS FREEDOM VIOLATOR Edwards (TX) McHenry Snyder mada. Ehlers McIntyre Space The SPEAKER pro tempore. The un- Spratt f Ellsworth McKeon finished business is the question on Emerson McMahon Stearns ADJOURNMENT Etheridge McMorris Stutzman suspending the rules and agreeing to Fallin Rodgers Sutton the resolution (H. Res. 20) calling on Mr. POLIS. Mr. Speaker, I move that Fattah McNerney Teague the State Department to list the So- the House do now adjourn. Foster Meek (FL) Terry The motion was agreed to; accord- Frelinghuysen Meeks (NY) Thompson (PA) cialist Republic of Vietnam as a Gallegly Mica Thornberry ‘‘Country of Particular Concern’’ with ingly (at 12 o’clock and 5 minutes Gerlach Miller (FL) Tiahrt respect to religious freedom, as amend- a.m.), the House adjourned until today, Giffords Miller (MI) Tiberi Friday, December 17, 2010, at 9 a.m. Gonzalez Miller, Gary Titus ed. Goodlatte Minnick Tsongas The Clerk read the title of the resolu- f Gordon (TN) Mitchell Turner tion. EXECUTIVE COMMUNICATIONS, Graves (MO) Mollohan Upton The SPEAKER pro tempore. The Green, Al Moore (KS) Walden ETC. question is on the motion offered by Griffith Murphy (NY) Walz Under clause 2 of rule XIV, executive Guthrie Murphy, Patrick Wasserman the gentleman from California (Mr. communications were taken from the Gutierrez Murphy, Tim Schultz BERMAN) that the House suspend the Hall (NY) Myrick Watt Speaker’s table and referred as follows: Hall (TX) Neugebauer Waxman rules and agree to the resolution, as amended. 10956. A letter from the Director, National Halvorson Nunes Westmoreland Institute of Food and Agriculture, Depart- Hare Nye Whitfield The question was taken; and (two- ment of Agriculture, transmitting the De- Harman Oberstar Wilson (OH) thirds being in the affirmative) the Harper Olson Wittman partment’s final rule — Establishment of Hastings (WA) Owens Young (AK) rules were suspended and the resolu- New Agency; Revision of Delegations of Au- tion, as amended, was agreed to. thority (RIN#: A-0521-AA63) received Decem- NOES—148 A motion to reconsider was laid on ber 8, 2010, pursuant to 5 U.S.C. 801(a)(1)(A); Ackerman Butterfield Dahlkemper the table. to the Committee on Agriculture. Bachmann Campbell DeFazio 10957. A letter from the Chairman, Council Baird Capuano DeGette f of Economic Advisers, transmitting fifth re- Baldwin Chaffetz DeLauro port regarding the American Recovery and Barton (TX) Chu Doggett GENERAL LEAVE Reinvestment Act through the third quarter Becerra Clarke Edwards (MD) of 2010; to the Committee on Appropriations. Bilirakis Cleaver Ellison Mr. POLIS. Mr. Speaker, I ask unani- mous consent that all Members have 5 10958. A letter from the Director, Defense Blumenauer Clyburn Engel Procurement and Acquisition Policy, De- Boyd Cohen Eshoo legislative days to revise and extend partment of Defense, transmitting the De- Braley (IA) Conyers Farr their remarks and insert any extra- Broun (GA) Cooper Filner partment’s final rule — Defense Federal Ac- Brown, Corrine Costello Flake neous material into the RECORD on quisition Regulation Supplement; Restric- Burgess Cummings Fleming H.R. 4853. tion on Ball and Roller Bearings (DFARS

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