6:33 PM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. Mr. Speaker, I rise with a great deal of sadness. We are punting. USA Today said, ``House action on tax extenders forfeits credibility on deficits and national debt.'' They are right.

The distinguished chairman of the Ways and Means Committee, who is my friend, offered a real bill on tax reform. The problem with that real bill was it had tough choices to make. Congratulations to the gentleman from Michigan (Mr. Camp) for having the courage to suggest those tough choices.

This vote today requires absolutely no courage at all. It gives the ice cream and says forget about the spinach. It is the reason that we have trillions of dollars in debt today on our national debt, because we didn't pay for the '01 or '03 tax cuts.

Now, Mr. Camp will tell me that I voted for R&D tax cuts six times that were temporary, that were annual, that were not a permanent change in the base. That is what the Republicans want to do. That is what they did in '01 and '03, and that is all inside jargon. And yes, they didn't waive statutory PAYGO, which we passed, which USA Today says was one of the reasons we got to balance 4 years in a row. That is why.

6:35 PM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. Mr. Speaker, I have 3 minutes to discuss with the American public why their country is going to be put deeper into debt by passing this legislation.

It would be good legislation if it were paid for. It was good legislation when it was included in Mr. Camp's overall tax reform bill. But it is very bad policy and very bad legislation in this unpaid-for, discreet form. And, by the way, there is about another $160 billion of debt to follow.

What a sad day for America. What a sad day for this House. What a sad day for the Ways and Means Committee. What a sad day for fiscal responsibility.

Mr. Speaker, I urge my colleagues not to vote for the temporary political benefit of saying you gave somebody a tax cut, but vote for fiscal responsibility. Vote to keep on a path of a big deal to solve the fiscal challenges that confront our country. I urge my colleagues to vote ``no.''

6:35 PM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. Mr. Speaker, I have 3 minutes to discuss with the American public why their country is going to be put deeper into debt by passing this legislation.

It would be good legislation if it were paid for. It was good legislation when it was included in Mr. Camp's overall tax reform bill. But it is very bad policy and very bad legislation in this unpaid-for, discreet form. And, by the way, there is about another $160 billion of debt to follow.

What a sad day for America. What a sad day for this House. What a sad day for the Ways and Means Committee. What a sad day for fiscal responsibility.

Mr. Speaker, I urge my colleagues not to vote for the temporary political benefit of saying you gave somebody a tax cut, but vote for fiscal responsibility. Vote to keep on a path of a big deal to solve the fiscal challenges that confront our country. I urge my colleagues to vote ``no.''

6:35 PM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. Mr. Speaker, I have 3 minutes to discuss with the American public why their country is going to be put deeper into debt by passing this legislation.

It would be good legislation if it were paid for. It was good legislation when it was included in Mr. Camp's overall tax reform bill. But it is very bad policy and very bad legislation in this unpaid-for, discreet form. And, by the way, there is about another $160 billion of debt to follow.

What a sad day for America. What a sad day for this House. What a sad day for the Ways and Means Committee. What a sad day for fiscal responsibility.

Mr. Speaker, I urge my colleagues not to vote for the temporary political benefit of saying you gave somebody a tax cut, but vote for fiscal responsibility. Vote to keep on a path of a big deal to solve the fiscal challenges that confront our country. I urge my colleagues to vote ``no.''

6:37 PM EDT

Charles B. Rangel, D-NY 13th

Mr. RANGEL. Mr. Speaker, I am opposed to this bill because I didn't think it was honest with the American people, and the chairman says he wants to be honest. I am just surprised that he is responding to this, because I don't think too many people believe this is on the level.

The Senate has spoken on this issue. This is not going to become law. It is not Benghazi. It is not affordable care. So I would think that this has to be something else that we are preparing for in 2014. And I really don't think that the American people are going to go to sleep tonight wondering whether or not we take this billion-dollar bill--even though all of us love the concept of research and development. But so many people are going to be going to sleep hungry. They haven't got extended

unemployment insurance. They need a variety of affordable housing. And now we are doing this for 2014. It doesn't fly. It doesn't get off the ground.

Well, what I am saying to the chairman is that he has such a great start with the tax reform, something that we could have worked on together, to pick out one good thing that we have, even though we don't have money to pay for it, is an ideal thing for Democrats and Republicans to sit down and wonder, ``How can we make certain that America stays ahead in research and development?'' but to do this because we are running out of things to try to embarrass Democrats on is really not fair to our Nation.

I really think our national security is being impacted because of our inability to work and get something done.

So I oppose this, as any other thing that is just trying to find something to embarrass us, but I do hope for 2014 that we find something, anything--immigration, unemployment compensation--so that when we do get there there will be a Republican Party.

I really love Democrats. But this used to be the party of Dixiecrats. Now they left us, and I want to make certain that they don't come back.

6:37 PM EDT

Charles B. Rangel, D-NY 13th

Mr. RANGEL. Mr. Speaker, I am opposed to this bill because I didn't think it was honest with the American people, and the chairman says he wants to be honest. I am just surprised that he is responding to this, because I don't think too many people believe this is on the level.

The Senate has spoken on this issue. This is not going to become law. It is not Benghazi. It is not affordable care. So I would think that this has to be something else that we are preparing for in 2014. And I really don't think that the American people are going to go to sleep tonight wondering whether or not we take this billion-dollar bill--even though all of us love the concept of research and development. But so many people are going to be going to sleep hungry. They haven't got extended

unemployment insurance. They need a variety of affordable housing. And now we are doing this for 2014. It doesn't fly. It doesn't get off the ground.

Well, what I am saying to the chairman is that he has such a great start with the tax reform, something that we could have worked on together, to pick out one good thing that we have, even though we don't have money to pay for it, is an ideal thing for Democrats and Republicans to sit down and wonder, ``How can we make certain that America stays ahead in research and development?'' but to do this because we are running out of things to try to embarrass Democrats on is really not fair to our Nation.

I really think our national security is being impacted because of our inability to work and get something done.

So I oppose this, as any other thing that is just trying to find something to embarrass us, but I do hope for 2014 that we find something, anything--immigration, unemployment compensation--so that when we do get there there will be a Republican Party.

I really love Democrats. But this used to be the party of Dixiecrats. Now they left us, and I want to make certain that they don't come back.

6:37 PM EDT

Charles B. Rangel, D-NY 13th

Mr. RANGEL. Mr. Speaker, I am opposed to this bill because I didn't think it was honest with the American people, and the chairman says he wants to be honest. I am just surprised that he is responding to this, because I don't think too many people believe this is on the level.

The Senate has spoken on this issue. This is not going to become law. It is not Benghazi. It is not affordable care. So I would think that this has to be something else that we are preparing for in 2014. And I really don't think that the American people are going to go to sleep tonight wondering whether or not we take this billion-dollar bill--even though all of us love the concept of research and development. But so many people are going to be going to sleep hungry. They haven't got extended

unemployment insurance. They need a variety of affordable housing. And now we are doing this for 2014. It doesn't fly. It doesn't get off the ground.

Well, what I am saying to the chairman is that he has such a great start with the tax reform, something that we could have worked on together, to pick out one good thing that we have, even though we don't have money to pay for it, is an ideal thing for Democrats and Republicans to sit down and wonder, ``How can we make certain that America stays ahead in research and development?'' but to do this because we are running out of things to try to embarrass Democrats on is really not fair to our Nation.

I really think our national security is being impacted because of our inability to work and get something done.

So I oppose this, as any other thing that is just trying to find something to embarrass us, but I do hope for 2014 that we find something, anything--immigration, unemployment compensation--so that when we do get there there will be a Republican Party.

I really love Democrats. But this used to be the party of Dixiecrats. Now they left us, and I want to make certain that they don't come back.

6:43 PM EDT

Kevin Brady, R-TX 8th

Mr. BRADY of Texas. I thank the chairman for yielding.

Mr. Speaker, I was touring a hospital in the Rio Grande Valley the other day, and we were going through the critical care unit, with young babies 25, 26 weeks old who in past years would, frankly, have never survived. But [Page: H3987]

today, because of medical breakthroughs, they will not only not have a lifetime of chronic diseases and disabilities, but they will live a full life because the medical breakthroughs and innovations developed here in America are giving

them a life, frankly, their parents never hoped for.

I see our veterans coming back from war, some of them with such terrible injuries, who not only are having their lives restored but, through these remarkable prosthetics, are living full lives that, again, wouldn't have been possible in recent years, even, because we are doing innovation here in America.

Each day, we read of another U.S. company being courted to move those medical breakthroughs and that research overseas to other countries, to China, to Europe, to others. We are seeing America lose our edge in innovation, even though everyone knows--Republicans and Democrats--that the country that innovates the most will lead the world in economic growth, period. We know it.

And I look at statements such as this. And I will read this. It is a direct quote:

I believe it is critical that our tax system provide strong incentives to help our manufacturing base. One of the most important tax incentives for the manufacturing sector is the research and development tax credit. Manufacturers do about 70 percent of the private sector R&D conducted in the United States. I have long been a strong and persistent voice for making the R&D credit a permanent part of our Tax Code and strengthening it so that all companies have a strong incentive to do R&D here

in the United States.

[Time: 18:45]

That wasn't me; that wasn't Chairman Camp. That was our distinguished ranking member, Sandy Levin.

He is not alone. Democrats and Republicans together long have sought a permanent R&D tax credit to make America competitive again. Make no mistake. Today, you have heard people say this really isn't about supporting innovation, technology, biosciences and medical breakthroughs; today, it is about fiscal responsibility and pay-fors; yesterday, it was some other bills we wanted. The truth is that we can't afford these excuses, and that is what they are.

Today, it is a clear choice between those who will stand for medical innovation in America, technology innovation in America, and energy innovation and manufacturing innovation that will create good-paying jobs and good-paying wages for Americans.

I ask our Democrat colleagues to set aside the politics. We know it is an election year. Set that aside. Stay consistent with the values that you have said over and over again that the research and development tax credit needs to be made permanent, and let's send a bill to the Senate so that they, too--we can discover and learn whether they are willing to stand with their past, longtime statements that the R&D tax credit should be permanent.

6:43 PM EDT

Kevin Brady, R-TX 8th

Mr. BRADY of Texas. I thank the chairman for yielding.

Mr. Speaker, I was touring a hospital in the Rio Grande Valley the other day, and we were going through the critical care unit, with young babies 25, 26 weeks old who in past years would, frankly, have never survived. But [Page: H3987]

today, because of medical breakthroughs, they will not only not have a lifetime of chronic diseases and disabilities, but they will live a full life because the medical breakthroughs and innovations developed here in America are giving

them a life, frankly, their parents never hoped for.

I see our veterans coming back from war, some of them with such terrible injuries, who not only are having their lives restored but, through these remarkable prosthetics, are living full lives that, again, wouldn't have been possible in recent years, even, because we are doing innovation here in America.

Each day, we read of another U.S. company being courted to move those medical breakthroughs and that research overseas to other countries, to China, to Europe, to others. We are seeing America lose our edge in innovation, even though everyone knows--Republicans and Democrats--that the country that innovates the most will lead the world in economic growth, period. We know it.

And I look at statements such as this. And I will read this. It is a direct quote:

I believe it is critical that our tax system provide strong incentives to help our manufacturing base. One of the most important tax incentives for the manufacturing sector is the research and development tax credit. Manufacturers do about 70 percent of the private sector R&D conducted in the United States. I have long been a strong and persistent voice for making the R&D credit a permanent part of our Tax Code and strengthening it so that all companies have a strong incentive to do R&D here

in the United States.

[Time: 18:45]

That wasn't me; that wasn't Chairman Camp. That was our distinguished ranking member, Sandy Levin.

He is not alone. Democrats and Republicans together long have sought a permanent R&D tax credit to make America competitive again. Make no mistake. Today, you have heard people say this really isn't about supporting innovation, technology, biosciences and medical breakthroughs; today, it is about fiscal responsibility and pay-fors; yesterday, it was some other bills we wanted. The truth is that we can't afford these excuses, and that is what they are.

Today, it is a clear choice between those who will stand for medical innovation in America, technology innovation in America, and energy innovation and manufacturing innovation that will create good-paying jobs and good-paying wages for Americans.

I ask our Democrat colleagues to set aside the politics. We know it is an election year. Set that aside. Stay consistent with the values that you have said over and over again that the research and development tax credit needs to be made permanent, and let's send a bill to the Senate so that they, too--we can discover and learn whether they are willing to stand with their past, longtime statements that the R&D tax credit should be permanent.

6:46 PM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. Mr. Speaker, I yield myself the balance of my time.

Mr. Speaker, I support R&D. Mr. Speaker, I support it now. I have never voted to make it permanent without paying for it. So this bill is a dangerous dodge.

Mr. Camp, you paid for what you suggested was permanent, and I salute your being forthright. That isn't what is happening, is not happening today. So this isn't only fiscally irresponsible. What it does is to threaten programs that we care about. What was not done with one hand yesterday, automatic cuts, will be done by the Republicans with the other. They will use this deficit to cut programs we care about mentioned earlier: medical research, Head Start, Pell Grants, and other extenders

that we deeply care about.

This bill today is, as I said, a dangerous dodge. We should not be party to it. We should not be party to it. It is irresponsible, it is hypocritical, and it is harmful to what we really care about and what the American people care about.

I urge a ``no'' vote on this bill, and I yield back the balance of my time.

6:46 PM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. Mr. Speaker, I yield myself the balance of my time.

Mr. Speaker, I support R&D. Mr. Speaker, I support it now. I have never voted to make it permanent without paying for it. So this bill is a dangerous dodge.

Mr. Camp, you paid for what you suggested was permanent, and I salute your being forthright. That isn't what is happening, is not happening today. So this isn't only fiscally irresponsible. What it does is to threaten programs that we care about. What was not done with one hand yesterday, automatic cuts, will be done by the Republicans with the other. They will use this deficit to cut programs we care about mentioned earlier: medical research, Head Start, Pell Grants, and other extenders

that we deeply care about.

This bill today is, as I said, a dangerous dodge. We should not be party to it. We should not be party to it. It is irresponsible, it is hypocritical, and it is harmful to what we really care about and what the American people care about.

I urge a ``no'' vote on this bill, and I yield back the balance of my time.