Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in opposition to the motion. The House has considered similar motion on 14 different occasions in the last month. And just as those previously, this motion will…
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise in opposition to the motion. The House has considered similar motion on 14 different occasions in the last month. And just as those previously, this motion will deny millions of families the relief we have already proposed by broadening coverage under the child tax credit.
Earlier this year, the House passed House bill 1308, the All American Tax Relief Act. This very important legislation includes increasing the child tax credit through the end of the decade. We all agree on expanding the refundability of the child tax credit. On a bipartisan basis, we want to broaden the child credit's availability to more families. This is one reason why H.R. 1308 not only increased the child credit to $1,000, but also eliminated the marriage penalty in the child credit. We also agree that those serving this Nation in uniform should receive tax relief, including the increases in the child credit. That is included in House resolution 1308. We differ, however, on how to achieve these goals.
This vote is not about denying a refundable tax credit to certain families. It is about helping more working families get tax relief for a longer period of time. A vote for this Democrat motion would reduce the child credit to 2 years instead of maintaining the credit at $1,000 and making it permanent over the decade.
Who realistically believes we should allow the credit to revert to $700 a year in just 2 years?
A vote for this motion would eliminate the possibility of more married couples with children receiving the child credit. A vote for this motion would deny tax relief to members of the Armed Forces. Much of the cost of the House bill goes toward maintaining the child credit at $1,000 until 2010.
I hope no one will hide behind the rhetoric of deficit reduction. The fact is we should insist on keeping our provisions in the bill.
Mr. Speaker, I do not want to belabor matters that have been exhaustively debated day, after day, after day on the floor on the many occasions that I referenced. I think it is important for folks to realize that all of these provisions are included in House Resolution 1308, that the House of Representatives has passed that piece of legislation, stands behind it and the other provisions included in that legislation, and vote no on this motion.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I think it is important to respond to the point of the military families not receiving child credit.
The House-passed bill, H.R. 1308, does not deny the child credit to military families. Military families, including those who are deployed abroad, are already receiving a refundable child tax credit, and they will continue to receive a refundable child credit under the House- passed bill.
The Democrat motion to instruct would only increase the refundable child tax credit to some military families, by allowing them to take into account income that is currently tax free when they compute their refundable credit if they are in a combat zone.
I think it is important to also bring up that in our provision, H.R. 1308, that we provide additional tax relief for members of the Armed Services including capital gains tax relief on home sales, tax free death gratuity payments, and of course, tax free dependent care assistance which is child care assistance, and that these provisions provide $806 million of tax relief to people who are members of the Armed Forces over the next 11 years.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I reserve the balance of my time.
Mr. Speaker, I yield 3 minutes to the gentleman from Tennessee (Mr. Duncan).
Mr. Speaker, I yield myself such time as I may consume.
I think it has been an interesting discussion this afternoon. I am glad that we had this discussion. I have listened to what the gentleman from New Jersey has said, and some of it has merit, but some of it, I believe, is a flawed argument.
We have included in our proposal, which passed the House by a vote of 224 to 201 several months ago, H.R. 1308, all the elements of the gentleman's proposal, but our bill is far better and far superior, and that is what has been kept out of this debate.
Our bill increases the child credit to $1,000 per eligible child through the year 2010. The Democrat bill ensures that the child tax credit stays at the same level only through 2005, and then it reverts back to $700. Our bill eliminates the marriage penalty in the tax credit. It raises the phase-out threshold for marriage couples. His bill creates a marriage penalty for married couples because it keeps the income levels below what our bill does.
Our bill accelerates the increase in the refundable child tax credit so that the 15 percent rate takes effect in 2003 instead of having to wait until 2005. His bill requires that the rate schedule be phased in and not become 15 percent until 2005.
In sum, Mr. Speaker, we passed a very, very good bill. We passed a bill with some Democrat support. This selecting out of a provision of our bill, which covers a number of very, very important topics, like providing tax relief and enhancing tax fairness for members of the Armed Forces, like suspending the tax-exempt status of designated terrorist organizations, like providing tax relief for astronauts who die on space missions, and like increasing the child tax credit to all people, including the ones he wishes to serve, and doing it far more quickly and for a greater length of time.
And so, Mr. Speaker, I encourage a ``no'' vote on this motion.
Mr. Speaker, I yield back the balance of my time.