House Proceeding on Sep 26th, 2008 :: 0:16:38 to 0:25:02
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0:13:57 to 0:16:38( Edit History Discussion )
Speech By: Richard E. Neal

0:16:27 to 0:16:38( Edit History Discussion )

Richard E. Neal: the speaker pro tempore: without objection, so ordered. mr. camp: i rise today in opposition to h.r. 7060, the majority's latest extenders package. a bill that will never actually deliver the

0:16:38 to 0:16:50( Edit History Discussion )

Dave Camp: tax relief it's promising because it will never pass the senate and it will never be enacted into law. so i agree with the distinguished chairman of the ways and means committee. it's time to be realistic.

0:16:38 to 0:25:02( Edit History Discussion )
Speech By: Dave Camp

0:16:50 to 0:17:02( Edit History Discussion )

Dave Camp: we are in the waning hours of this congress, madam speaker, m only a day away from our scheduled adjournment. nt a day or two. or three. yet here we are conducting another purely political

0:17:02 to 0:17:15( Edit History Discussion )

Dave Camp: exercise on a tax bill that is doomed in the other body because of our houseur majority's insistence on adhering to the misguided pay-go rules. indeed, as the end of the 110th congress draws near,

0:17:15 to 0:17:30( Edit History Discussion )

Dave Camp: it's interesting to see the application of pay-go to expiring tax provisions remain as difficult for the majority today as it has ever been. throughout the year republicans have insisted

0:17:30 to 0:17:42( Edit History Discussion )

Dave Camp: that we stehould not have to raise taxes to prevent a tax increase. democrats meanwhile have insisted that pay-go requires us to find offsets for these tax extensions. of course the majority's adherence

0:17:42 to 0:17:58( Edit History Discussion )

Dave Camp: to pay-go has been intermittant. it's been waived to fund unemployment benefits and on the housing bill passed in july, and pay-go has never applied to spending which continues to grow at unsustainable

0:17:58 to 0:18:10( Edit History Discussion )

Dave Camp: rates. it's also been waived for extenses of some tax provisions, including just wednesday on the a.m.t. patch, nevertheless the majority has steadfastly refused to waive pay-go foror our expiring

0:18:10 to 0:18:23( Edit History Discussion )

Dave Camp: tax provision evens in the face of example evidence that the senate and president are not in agreement with that position. . on tuesday the senate acted in a bipartisan basis to find

0:18:23 to 0:18:36( Edit History Discussion )

Dave Camp: common ground on this issue. they agreed by an overwhelming vote of 93-2 to approve a comprehensive tax relief package, containing extenders provision that is are not fully offset as many democrats

0:18:36 to 0:18:46( Edit History Discussion )

Dave Camp: would prefer but contains more offsets than republicans would like. is the senate's package perfect? of course it isn't. but given the limited time left in this congress, the senate's

0:18:46 to 0:18:59( Edit History Discussion )

Dave Camp: comprehensive package is likely the only option that will lead to enactment of much-needed extensions of expired and expiring tax provisions, including the a.m.t. patch, the state and local

0:18:59 to 0:19:12( Edit History Discussion )

Dave Camp: sales tax deduction, the resdeearch and development tax credit, which is so critical to restarting our economy, and the extension of the subpart f exception for financial services income. why

0:19:12 to 0:19:22( Edit History Discussion )

Dave Camp: is this our only option? because the senate has -- which has labored long and hard to develop that compromise, has indicated that under no uncertain terms that it's not going to reconsider these

0:19:22 to 0:19:34( Edit History Discussion )

Dave Camp: issues again this year. the senate majority leader made that point on tuesday on three separate occasions. in the morning he urged the house, and i quote, don't send us back something else. we

0:19:34 to 0:19:45( Edit History Discussion )

Dave Camp: can't get it passed. if they try to mess with our package, it will come back here, it will die, and we will have snatched defeat from the jaws of victory. end quote. in the early afternoon,

0:19:45 to 0:19:56( Edit History Discussion )

Dave Camp: he told a reporter that he had talked to house leaders and, quote, told thehow important it is that we get a bill back like the one we sent them. they send us back something different, it is

0:19:56 to 0:20:13( Edit History Discussion )

Dave Camp: dead. sorry to say, end quote. and then to make sure there was no confion even later in the afternoon, the majority leader said, and i quote, if the house doesn't pass this the full responsibility

0:20:13 to 0:20:28( Edit History Discussion )

Dave Camp: of this not passing is theirs, not ours. so let's be clear. the senate's comprehensive tack package, which passed 9 -- package, which passed 92-3, is the only clear path for enactment of the

0:20:28 to 0:20:39( Edit History Discussion )

Dave Camp: a.m.t. patch and the tax exend ter package we're debating here today. -- extenders package we're debating here to day. i don't like being told by the senate what and what not to do. with adjournment

0:20:39 to 0:20:51( Edit History Discussion )

Dave Camp: looming and with a continuing resolution that takes us into next year, it's time to be realistic as the chairman -- the distinguished chairman called on. we're headed down a path that

0:20:51 to 0:21:01( Edit History Discussion )

Dave Camp: will leave all these critical issues unresolved well til 2009. simply put, the majority's insistence on paying for extenders has painted us into this corner, and unfortunately we don't have

0:21:01 to 0:21:16( Edit History Discussion )

Dave Camp: time to wait for the paint to dry. failing to act on the extenders this year will be burdensome to businesses and families alike. it's important to note, madam te speaker, that the house majority's

0:21:16 to 0:21:30( Edit History Discussion )

Dave Camp: extenders bill contains no net tax relief, none. that is in stark contrast to the senate's position. the senate's comprehensive tax package contains approximately $107 billion in net tax relief

0:21:30 to 0:21:41( Edit History Discussion )

Dave Camp: after subtracting out the a.m.t. patch, the mental health parity benefits from the senate's package to account for the house's passage of those provisions as separate free-standing bills.

0:21:41 to 0:21:55( Edit History Discussion )

Dave Camp: we see that the remaining senate extenders provisions by themselves provide approximately $35 billion in net tax relief. on the other hand, the house extenders bill provides no net tax relief

0:21:55 to 0:22:19( Edit History Discussion )

Dave Camp: to american taxpayers because every last penny of tax relief is offset with revenue raisers else will. and that is not a good -- elsewhere. and that is not a good deal for the american taxpayer.

0:22:19 to 0:22:29( Edit History Discussion )

Dave Camp: it is also a bad deal for u.s. employers and businesses that are trying to deal with theirea counterparts. that's more rational rules originally enacted by republicans in 2004 were good policy

0:22:29 to 0:22:43( Edit History Discussion )

Dave Camp: then and remain good policy now. while the majority refers to those as an international tax provision, when implemented, these rules will actually help companies avoid double taxation

0:22:43 to 0:22:56( Edit History Discussion )

Dave Camp: on their foreign income, and we shouldn't push off for nearly a decade the effective date of a provision that will help american businesses and employers compete. i would also note, madam speaker,

0:22:56 to 0:23:10( Edit History Discussion )

Dave Camp: that the house bill in many instances providesid conserably less generous tax benefits than the senate bill, including and especially with respect to energy-related tax benefits. for example, the

0:23:10 to 0:23:21( Edit History Discussion )

Dave Camp: house bill owe mitts entirelyly a number of senate proposals including an extension and modification of the election to expand certain refineries. also, an energy-efficient home credit,

0:23:21 to 0:23:31( Edit History Discussion )

Dave Camp: and an allowans for certain reuse and recycling property. the house bill places considerable limitations on a a number of the senate's other energy-related provisions, including a reduction

0:23:31 to 0:23:44( Edit History Discussion )

Dave Camp: in the maximum credit for plug-in hybrids, a key restriction on the credit for producing electricity for most renewable sources. moreover, until the resenate package -- unlike the senate

0:23:44 to 0:23:56( Edit History Discussion )

Dave Camp: package, the house bill does not contain $3.3 billion in funding for the secure rural schools program. and, madam speaker, when the 110th congress convened last january, i had high hopes that

0:23:56 to 0:24:09( Edit History Discussion )

Dave Camp: these two years would be spent on working on a bipartisan basis on issues people care about. that doesn't mean that we shouldn't have real disagreements about what each side believes in. but

0:24:09 to 0:24:21( Edit History Discussion )

Dave Camp: unfortunately in the face of a bipartisan senate solution to the extenders debate and the ticking clock on this congress, the house majority is still clinging to pay-go on this bill. time is short,

0:24:21 to 0:24:35( Edit History Discussion )

Dave Camp: madam speaker, whether we defeat the house bill now or whether the senate rejects it later, this bill's life expectancy is exceedingly short. the sooner the majority sees that the sooner we can begin

0:24:35 to 0:24:44( Edit History Discussion )

Dave Camp: debating the senate's comprehensive package, which will be acted into law. i urge opposition to this bill and i reserve the balance of my time. mr. rangel: will the gentleman yield?

0:24:44 to 0:24:54( Edit History Discussion )

Dave Camp: the speaker pro tempore: the gentleman reserves his time. the gentleman from massachusetts. mr. neal: madam speaker, i yield one minute to the mi gentleman from new york, the chairman of

0:24:54 to 0:25:02( Edit History Discussion )

Dave Camp: the ways and means committee. the speaker pro tempore: the gentleman from new york is recognized for one minute. mr. rangel: we don't have a lot of speakers, so that's why i asked you to yield.

0:25:02 to 0:25:18( Edit History Discussion )

Charles B. Rangel: assuming that the majority was persuaded by the eloquence of the gentleman from michigan, and we wanted to embrace the bill that 60 members in the other house had. and assuming further that

0:25:02 to 0:26:05( Edit History Discussion )
Speech By: Charles B. Rangel