American Taxpayer Relief Act Of 2012
Mr. Speaker, pursuant to House Resolution 844, I call up the bill (H.R. 8) to extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and…
Mr. Speaker, pursuant to House Resolution 844, I call up the bill (H.R. 8) to extend certain tax relief provisions enacted in 2001 and 2003, and to provide for expedited consideration of a bill providing for comprehensive tax reform, and for other purposes, with the Senate amendments thereto, and I have a motion at the desk.
Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and to include extraneous material on H.R. 8.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise today to urge what a colleague from Georgia called a legacy vote--making permanent the tax cuts Republicans enacted back in 2001 and 2003. I couldn't agree more, and let me say why: because we're making permanent tax policies Republicans originally crafted.
Now back then, despite having a majority in the House, a majority in the Senate, and a Republican in the White
House, those policies were only temporary. That's because Democrats refused to join Republicans in providing tax relief for working families. Well, after more than a decade of criticizing these tax cuts, Democrats are finally joining with Republicans in making these tax cuts permanent. Republicans and the American people are getting something really important--permanent tax relief.
As big as that is, and it's only the first step when it comes to taxes, this legislation settles the level of revenue Washington should bring in. Next, we need to make the Tax Code simpler and fairer for families and small businesses, and we need to pursue comprehensive and fundamental tax reform to create the jobs we need and to make American businesses and workers competitive in the global marketplace. Simply put, the Tax Code is a nightmare. It's too complex, too time-consuming, and too costly. About 60 percent of individual taxpayers have to hire others to do their tax returns because the code is too complicated. As a result, if tax compliance were an industry, it would be one of the largest in the United States and would consume 6.1 billion hours, the equivalent of more than 3 million full-time workers.
And yes, it's too costly. In 2008 alone, taxpayers spent $163 billion complying with the individual and corporate income tax rules. Add to that the fact that the U.S. has the highest corporate tax rate in the OECD and an outdated system of taxation, and it's not too difficult to imagine why many don't view America as an attractive place to invest and hire.
Nothing about the bill we're considering tonight changes any of those realities. That's why the Ways and Means Committee will pursue comprehensive tax reform in the next Congress. So by making Republican tax cuts permanent, we're one step closer to comprehensive tax reform that will help strengthen our economy and create more and higher paychecks for American workers.
I urge my colleagues to support this bill and get us one step closer to tax reform.
I reserve the balance of my time.
At this time, I yield 3 minutes to the gentleman from California (Mr. Issa), the distinguished chairman of the Oversight and Government Reform Committee.
(Mr. ISSA asked and was given permission to revise and extend his remarks.)
Mr. Speaker, I yield myself 45 seconds.
This is the first step. And now that we have permanently settled how much revenue the government is going to take out of the economy, we can move on to next steps. We can and will pursue comprehensive tax reform this year, in 2013, and next steps. We need to address the fundamental driver of our deficits and debt, and that is out-of-control spending.
I urge support for this bill, and I reserve the balance of my time.
I yield 30 seconds to the distinguished gentleman from Texas (Mr. Gohmert).
I reserve the balance of my time.
I continue to reserve the balance of my time.
I continue to reserve the balance of my time.
I continue to reserve the balance of my time.
Mr. Speaker, I would advise the gentleman that I am prepared to close.
Mr. Speaker, I yield 4 minutes to the distinguished gentleman from California (Mr. Royce).
I yield myself such time as I may consume.
We've heard some talk about what does the fiscal cliff mean, and I would say that I agree with my friend from Maryland that if we didn't address the fiscal cliff issue, every single American would see a tax increase, and it would be a big tax increase. It would be the biggest tax increase in the history of the country. That's why it's so important we're here tonight acting in a permanent way.
And I would say also to my friend from Michigan, he is correct, this is a permanent tax policy. These are permanent tax provisions we're putting in this bill that permanently sets the baseline. It permanently sets how much money the government can take out of the economy. Because of this, this is the largest tax cut in American history.
I think that's helpful, because the best way to get out of our debt and deficit is to grow our economy. We can do that through comprehensive and fundamental tax reform, and this is just the first step to getting to the ability to strengthen our economy and create the jobs we so badly need.
We've had years of anemic economic growth. We have projected anemic economic growth in 2013. It is so important that we try to create jobs and grow the economy, and we can do that through comprehensive pro- growth tax reform that lowers rates, broadens the base, and simplifies a Tax Code that is far too complex.
As I said in my opening statement, the Tax Code is a nightmare--and it is--and it's getting almost late enough to have a nightmare ourselves.
Let me just say that we not only need to grow the economy, but we also need to address the fundamental causes of our debts and deficits, and that's out-of-control spending--obligations that we have not got the financial wherewithal to meet. We need to strengthen those programs and make sure that they're sustainable for the long term, but we also need to address the problem that is out-of-control spending.
So this is the first step--permanent tax policy that then sets the stage for comprehensive and fundamental tax reform--and then addressing out-of-control spending. This will be several steps. This is an important one, and this is a critical one for the future of the country. I urge a ``yes'' vote.
I yield back the balance of my time.