• Abstract and Figures
• Public Full-text

E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 110 CONGRESS, FIRST SESSION Vol. 153 WASHINGTON, TUESDAY, OCTOBER 30, 2007 No. 166 House of Representatives PRAYER lic for which it stands, one nation under God, indivisible, with liberty and justice for all. The House met at 9 a.m. and was The Chaplain, the Reverend Daniel P. called to order by the Speaker pro tem- Coughlin, offered the following prayer: f pore (Mr. SIRES). Lord God, we seek Your guidance and EFFECTS OF ALTERNATIVE f protection; yet, we are often reluctant MINIMUM TAX to bend to Your ways. Help us to under- DESIGNATION OF SPEAKER PRO (Mr. ISRAEL asked and was given stand the patterns of Your creative TEMPORE permission to address the House for 1 hand. In the miracle of life and the minute and to revise and extend his re- The SPEAKER pro tempore laid be- transformation to light, You show us marks.) fore the House the following commu- Your awesome wonder. Both the chang- Mr. ISRAEL. Madam Speaker, one of nication from the Speaker: ing seasons and the dawning of each the greatest financial assaults on WASHINGTON, DC, day reveal for us Your subtle but con- America’s middle class is the alter- October 30, 2007. sistent movement during every mo- native minimum tax. Originally, it was I hereby appoint the Honorable ALBIO ment of life. SIRES to act as Speaker pro tempore on this meant to ensure that several dozen of Without a screeching halt or sudden day. the richest families in America paid curtain, You change darkness into NANCY PELOSI, their fair share of taxes, but it wasn’t light and provide a new day. Only week Speaker of the House of Representatives. indexed for inflation, so it’s robbing after week does Mother Earth strip f middle class taxpayers, like our union herself and then blanket herself for members, our cops, firefighters, teach- MORNING-HOUR DEBATE winter. Guide us to imitate Your silent ers and nurses. Now, after too long, fi- but relentless plan of transcendence. The SPEAKER pro tempore. Pursu- nally a real effort at reform is devel- Through the gradual building of con- ant to the order of the House of Janu- oping. sensus and the hard work toward re- ary 4, 2007, the Chair will now recog- The Ways and Means Committee ma- sponsible transition, may Your people nize Members from lists submitted by jority has unveiled a repeal of the all over the globalized world tire of the majority and minority leaders for AMT. Now, it’s too early for me to say competition and war and awaken to morning-hour debate. that I agree with every single element new ways of interdependence and The Chair will alternate recognition of this proposal. I am convening a peace. between the parties, with each party panel of experts to assess it. But I am For this we pray, now and forever. limited to 25 minutes and each Mem- pleased that finally we are seriously Amen. ber, other than the majority and mi- addressing this middle-class rip-off. I nority leaders and the minority whip, f want to thank Chairman RANGEL. I limited to 5 minutes, but in no event THE JOURNAL hope to work closely with him in shall debate continue beyond 9:50 a.m. achieving real reform and real relief f The SPEAKER pro tempore. The for America’s working families and Chair has examined the Journal of the RECESS middle-class taxpayers. last day’s proceedings and announces f The SPEAKER pro tempore. Pursu- to the House her approval thereof. ant to clause 12(a) of rule I, the Chair Pursuant to clause 1, rule I, the Jour- R&D TAX CREDIT declares the House in recess until 10 nal stands approved. (Mr. ROSKAM asked and was given a.m. today. f permission to address the House for 1 Accordingly (at 9 o’clock and 3 min- minute.) utes a.m.), the House stood in recess PLEDGE OF ALLEGIANCE Mr. ROSKAM. Madam Speaker, I rise until 10 a.m. The SPEAKER pro tempore. Will the today to raise awareness of the immi- f gentleman from Louisiana (Mr. nent need for Congress to extend and b 1000 BOUSTANY) come forward and lead the make permanent the research and de- House in the Pledge of Allegiance. velopment tax credit. The R&D tax AFTER RECESS Mr. BOUSTANY led the Pledge of Al- credit is set to expire at the end of this The recess having expired, the House legiance as follows: year. At a time of increasing was called to order by the Speaker pro I pledge allegiance to the Flag of the globalization, America’s prosperity de- tempore (Mrs. TAUSCHER) at 10 a.m. United States of America, and to the Repub- pends more than ever on its capacity to b This symbol represents the time of day during the House proceedings, e.g., b 1407 is 2:07 p.m. Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor. H12157 . VerDate Aug 31 2005 03:40 Nov 30, 2007 Jkt 059060 PO 00000 Frm 00001 Fmt 7634 Sfmt 0634 J:\CRONLINE\2007BA~1\2007NE~2\H30OC7.REC H30OC7 mmaher on MIKETEMP with CONG-REC-ONLINE H12158 CONGRESSIONAL RECORD — HOUSE October 30, 2007 innovate. For decades, our Nation’s on the leading edge of technology and auto manufacturers spend $20 billion a leadership in research has led to dis- innovation will our competitive edge year on research and development, and coveries that have dramatically im- stay sharp. Our competitive advantage such investment and innovation among proved living standards around the will diminish unless our companies American automakers should be en- world and given rise to new industries have the ability to perform research couraged. that have in turn created millions of and develop the technology improve- One positive step Congress can imme- new jobs. ments that keep America out front. diately take to continue similar inno- Other countries are well aware of the That is why we need a permanent R&D vation is to make permanent the re- significant economic benefits that flow tax credit. search and development tax credit. from R&D activities, and many have One recent study found that R&D This legislation would keep high-tech, created strong tax incentives designed credit teases out nearly $3 of additional high-paying jobs in America by main- to attract R&D investment around the R&D investment for every $1 of taxes taining important incentives and en- world. In fact, 10,000 American compa- companies can deduct. In addition, it able American companies to grow, be- nies will be able to take advantage of has been estimated that more than come more competitive globally, and the permanency of the R&D tax credit. three-quarters of R&D tax credit dol- ultimately result in additional high- In my district alone, small and medium lars are used for the compensation of paying American jobs. manufacturers, technology companies employees who work in U.S.-based re- I urge my colleagues to support H.R. and leading research institutions will search and development. 2138, the research and development tax greatly benefit from this tax credit. In my home State of Idaho, roughly credit, and encourage further invest- Let’s not play politics with the life- 35,000 people are employed in the high- ment and growth in our great Nation. blood of our economy. Let’s join to- tech industry. The companies where f gether, both sides of the aisle, to ex- they work depend on the best possible DEMOCRATS MAKE CHANGES TO tend the R&D tax credit. research and development. It is hard ADDRESS REPUBLICAN CON- for firms to plan for future growth f CERNS AND IT IS STILL NOT when a key tax credit is destined to ex- SPENDING FOR CHIP VERSUS ENOUGH pire at the end of the year. SPENDING IN IRAQ—THIS IS A Madam Speaker, it is time to make (Ms. LORETTA SANCHEZ of Cali- QUESTION OF PRIORITIES the R&D tax credit permanent. fornia asked and was given permission (Mr. BRALEY of Iowa asked and was f to address the House for 1 minute.) given permission to address the House Ms. LORETTA SANCHEZ of Cali- for 1 minute and to revise and extend SCHIP VERSUS SPENDING IN IRAQ fornia. Madam Speaker, the children’s his remarks.) (Mr. SARBANES asked and was given health insurance legislation passed by Mr. BRALEY of Iowa. Madam Speak- permission to address the House for 1 the House last month was a bipartisan er, the American people agree with the minute and to revise and extend his re- bill that provided health care coverage Democratic Congress: It is time to marks.) to 10 million American children. Al- begin responsibly redeploying our Mr. SARBANES. Madam Speaker, though it received overwhelming sup- troops from Iraq and investing much- once again, we have a vivid, vivid ex- port from the American people, from 43 needed funds here at home. Instead of ample of this President’s misplaced Governors, and a veto-proof majority beginning to spend less money in Iraq, priorities. Earlier this month, the in the Senate, the majority of House the President is once again asking Con- President vetoed the Children’s Health Republicans rejected it and said they gress to do more; a lot more. Insurance Program, which would have had specific concerns.

Load more

  166

Copy Link