10:33 AM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. Mr. Speaker, I rise in opposition to this bill, but I am constrained to respond to the remarks, the emotional remarks, the perplexed remarks of the gentleman who preceded me.

I have a voting card too. And I don't know whether either Tom or Judy Price have been unemployed, or whether their brother or their sister have run out of unemployment insurance and have been left twisting in the wind. But this voting card could give them extended unemployment insurance.

I don't know whether Tom and Judy Price have employees who are making the minimum wage and living in poverty. This card could change that and up the minimum wage, but it hasn't been brought to the floor.

I tell my friend from Ohio, this card could fix what everybody agrees is a broken immigration system, but we are not using this card, I tell my friend from Ohio, because we are dabbling in the unrealistic.

This card, this card could pass export-import. He wants to grow jobs. Export-import is absolutely critical, and it phases out, and you will not bring it to this floor.

This card, and your card, joined together with 216 other cards, could pass all of those pieces of legislation. This card could make sure that Tom and Judy Price have an economy that is more resilient.

And this card--my friend from Ohio is distracted, but I tell my friend from Ohio, this card helped pass the Recovery and Reinvestment Act, without which Tom and Judy Price might not be in business today because your tax policies of 2001 and 2003, unpaid for, which were supposed to grow this economy, resulted in more loss of jobs than any policy since Herbert Hoover.

This card ought to be used today for fiscal responsibility. This card ought to be used to say to your chairman that you praised, David Camp, yes, we want to do comprehensive tax reform, not just little item by little item by little item, which destroys tax reform, which exacerbates our deficit, and will destroy investment in education, infrastructure, and growing our economy.

This card, I urge my colleagues to use responsibly this day.

All of us here support helping small businesses expand operations so they can hire more workers, all of us. Our Tax Code ought to encourage small businesses to do so.

But the Republican majority's approach to tax policy, evidenced by the two bills on the floor today, is simply the wrong path.

Do not use your card, given to you by the American people, trusting that you will do the responsible, commonsense thing, don't use this card irresponsibly today.

The bills we are considering today are the latest examples of Republican hypocrisy, Mr. Speaker, hypocrisy on deficits, as their approach would raise deficits by hundreds of billions of dollars.

There is no free lunch. This pretends there is a free lunch.

Hypocrisy on tax policy is a representative rejection of the comprehensive approach to tax reform Republicans' own Ways and Means Chairman, David Camp, that the gentleman from Ohio just praised, put on this floor, or at least put on the table, not on the floor.

And the response of the Speaker of this House was, and I quote, ``Blah, blah, blah, blah.''

What a shame. How unserious.

While I have serious concerns about some of the policy changes that Chairman Camp's proposal contains, it made the difficult choices and it was paid for. It was responsible.

Republicans and Democrats all say we want a comprehensive tax reform. This undermines tax reform. So if you say you are for comprehensive tax reform, don't do little, itty-bitty pieces that are unpaid for, exacerbate the deficit, and undermine tax reform.

10:38 AM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. These bills today reject that approach and, instead, take the easy way out by irresponsibly adding their cost to the deficit, a deficit that my friends on the other side of the aisle, with whom I join, lament on a daily basis but, somehow, disconnect their policies from their lamentations.

In doing so, these bills will put even more pressure on a discretionary budget facing the return of sequester next year, undermining our ability to invest in critical

priorities like veterans care, highways, education, bills to make sure that we grow our economy and create jobs.

Democrats are ready to make the hard choices so that we leave America a better country, not a poorer country, not a deeper in debt country, but a better country for our children and our grandchildren.

Rather than waste our time on these individual bills, Congress ought to debate and amend comprehensive tax reform, allowing us to face up to our responsibility to make the tough decisions the American people expect from their representatives.

Mr. Speaker, I don't live in a perfect Congress, none of us do, or in a country that always makes the right decisions. So I will vote for an MTR which says we are not going to permanently exacerbate our deficit, but we will make sure that business does have the opportunity to have these tax benefits, as we [Page: H5333]

have in a bipartisan basis done in the past.

So I will vote for the MTR. I will vote to make sure that we extend these for 2 years, as the Senate suggests. I don't think that is the best policy. It is not the policy I would choose. The policy I would choose is comprehensively giving permanent, long-term R&D, paid for so that we don't exacerbate the deficit, but we do give confidence so businesses can grow.

So I tell my friend from Ohio, we both have a card. The responsible step for us to take is to vote ``no'' on temporary and come with fiscally responsible legislation to this floor.

10:38 AM EDT

Steny Hoyer, D-MD 5th

Mr. HOYER. These bills today reject that approach and, instead, take the easy way out by irresponsibly adding their cost to the deficit, a deficit that my friends on the other side of the aisle, with whom I join, lament on a daily basis but, somehow, disconnect their policies from their lamentations.

In doing so, these bills will put even more pressure on a discretionary budget facing the return of sequester next year, undermining our ability to invest in critical

priorities like veterans care, highways, education, bills to make sure that we grow our economy and create jobs.

Democrats are ready to make the hard choices so that we leave America a better country, not a poorer country, not a deeper in debt country, but a better country for our children and our grandchildren.

Rather than waste our time on these individual bills, Congress ought to debate and amend comprehensive tax reform, allowing us to face up to our responsibility to make the tough decisions the American people expect from their representatives.

Mr. Speaker, I don't live in a perfect Congress, none of us do, or in a country that always makes the right decisions. So I will vote for an MTR which says we are not going to permanently exacerbate our deficit, but we will make sure that business does have the opportunity to have these tax benefits, as we [Page: H5333]

have in a bipartisan basis done in the past.

So I will vote for the MTR. I will vote to make sure that we extend these for 2 years, as the Senate suggests. I don't think that is the best policy. It is not the policy I would choose. The policy I would choose is comprehensively giving permanent, long-term R&D, paid for so that we don't exacerbate the deficit, but we do give confidence so businesses can grow.

So I tell my friend from Ohio, we both have a card. The responsible step for us to take is to vote ``no'' on temporary and come with fiscally responsible legislation to this floor.

10:40 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield 2 minutes to the gentleman from the Hoosier State, Indiana (Mr. Young), a great member of the Ways and Means Committee and a member of the Select Revenue Subcommittee. He has provided great leadership on the subcommittee, and I appreciate his work.

10:40 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield 2 minutes to the gentleman from the Hoosier State, Indiana (Mr. Young), a great member of the Ways and Means Committee and a member of the Select Revenue Subcommittee. He has provided great leadership on the subcommittee, and I appreciate his work.

10:40 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield 2 minutes to the gentleman from the Hoosier State, Indiana (Mr. Young), a great member of the Ways and Means Committee and a member of the Select Revenue Subcommittee. He has provided great leadership on the subcommittee, and I appreciate his work.

10:40 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield 2 minutes to the gentleman from the Hoosier State, Indiana (Mr. Young), a great member of the Ways and Means Committee and a member of the Select Revenue Subcommittee. He has provided great leadership on the subcommittee, and I appreciate his work.

10:40 AM EDT

Todd Young, R-IN 9th

Mr. YOUNG of Indiana. Mr. Speaker, I rise today in support of H.R. 4457, America's Small Business Tax Relief Act.

I want to thank my colleague, Pat Tiberi, for his hard work on this initiative, which is vital to the small businesses and farmers across my district.

I would be remiss if I didn't respond to the last speaker's comments, the distinguished gentleman from Maryland who, with a straight face, indicated that this card, his card, was a vehicle for fiscal responsibility when, consistently he has confused this card with this card, a credit card.

We have continued to rack up debts, over and over again, and we have not engaged in growth-oriented public policy, and that is what this bill is intended to do.

This bill increases the amount a small business taxpayer may immediately deduct when she buys operating materials for her business.

The ability of small businesses to immediately deduct the cost of qualified investment in the year purchased, rather than having to recover the cost through depreciation over several years, has been essential to the survival of thousands of firms over the past decade.

Higher expensing limits will encourage businesses to invest in new computers, tractors, and other types of business equipment and grow.

Such investment will have, of course, important second-order effects--economists tell us this--on the economy as these purchases are magnified throughout the nation.

The version of section 179 we are considering today expired at the end of 2012, and since then, back home I have heard from a parade of constituents, businessowners and workers alike, about the need to restore the provision.

I have heard from Indiana NFIB, Indiana Chamber of Commerce, Indiana Manufacturers Association, Indiana Farm Bureau, and countless individual businesses and workers, and I am glad we are working in the House, hopefully on a bipartisan basis, to help unleash the ability of our Nation's small businesses to grow.

10:43 AM EDT

Todd Young, R-IN 9th

Mr. YOUNG of Indiana. These small businesses are the engine of American job creation. They create roughly three out of five American jobs that have been created over recent years. And one critical means of supporting American small businesses and working Americans is through business tax incentives like section 179.

This is a proven success. It has proven itself over the last several years. And it is evident that these small businesses are one bright spot of job creation, personal opportunity, and upward mobility during these troubled times.

I support this commonsensical bill that is going to help small businesses grow and restore a measure of hope and opportunity to rank-and-file Americans during these troubled times.

I would like to thank Chairman Tiberi for his important work in offering this legislation.

I would ask my colleagues on the other side of the aisle to reconsider their partisan reservations to supporting this measure.

[Time: 10:45]

10:43 AM EDT

Todd Young, R-IN 9th

Mr. YOUNG of Indiana. These small businesses are the engine of American job creation. They create roughly three out of five American jobs that have been created over recent years. And one critical means of supporting American small businesses and working Americans is through business tax incentives like section 179.

This is a proven success. It has proven itself over the last several years. And it is evident that these small businesses are one bright spot of job creation, personal opportunity, and upward mobility during these troubled times.

I support this commonsensical bill that is going to help small businesses grow and restore a measure of hope and opportunity to rank-and-file Americans during these troubled times.

I would like to thank Chairman Tiberi for his important work in offering this legislation.

I would ask my colleagues on the other side of the aisle to reconsider their partisan reservations to supporting this measure.

[Time: 10:45]

10:43 AM EDT

Todd Young, R-IN 9th

Mr. YOUNG of Indiana. These small businesses are the engine of American job creation. They create roughly three out of five American jobs that have been created over recent years. And one critical means of supporting American small businesses and working Americans is through business tax incentives like section 179.

This is a proven success. It has proven itself over the last several years. And it is evident that these small businesses are one bright spot of job creation, personal opportunity, and upward mobility during these troubled times.

I support this commonsensical bill that is going to help small businesses grow and restore a measure of hope and opportunity to rank-and-file Americans during these troubled times.

I would like to thank Chairman Tiberi for his important work in offering this legislation.

I would ask my colleagues on the other side of the aisle to reconsider their partisan reservations to supporting this measure.

[Time: 10:45]

10:44 AM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. The whip is so correct.

The gentleman from Indiana is very confused. He is using his voting card as a credit card. $73 billion on this bill. Our voting card is not a credit card, but the Republicans are turning this into a credit card, with calamitous results.

I now yield 3 minutes to the gentleman from Texas (Mr. Doggett), another distinguished member of our committee.

10:44 AM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. The whip is so correct.

The gentleman from Indiana is very confused. He is using his voting card as a credit card. $73 billion on this bill. Our voting card is not a credit card, but the Republicans are turning this into a credit card, with calamitous results.

I now yield 3 minutes to the gentleman from Texas (Mr. Doggett), another distinguished member of our committee.

10:45 AM EDT

Lloyd Doggett, D-TX 35th

Mr. DOGGETT. Mr. Speaker, it is clear that Republicans would dig our country into another trillion dollars of debt, borrowing from the Chinese, the Saudis, whoever will lend it to us.

They have already approved borrowing $614 billion for business tax breaks, and they have told us that there are more on the way, more tax privileges, more tax exceptions, more tax advantages.

This bill today is just another chapter in their ledger of accounts payable for the American taxpayers. Such fiscal irresponsibility doesn't represent a plan for genuine tax relief for small businesses or for anyone else.

I will say that I agree with them, that small businesses have every reason to complain, as do individual taxpayers, because the Tax Code that they have done so much to write is riddled with special treatment for those who pay more to their lobbyists here in Washington than they do to the U.S. Treasury.

It has been a wise investment for them, but a pretty sorry outcome for small business and individual taxpayers. We have some multinational companies who have set up hundreds of offshore subsidiaries to shift their profits out of America and into a place where they don't pay a dime.

I can tell you that the cleaning crew at the headquarters of General Electric pays a higher tax rate than General Electric does. That is not fair. They pay a higher tax rate than Joe's Bakery or Patty's Taco House down in San Antonio.

That is not fair. It ought to be corrected; but instead, they have added almost another $100 billion in tax loopholes that they have proposed and have approved in committee to help those folks continue dodging their taxes.

At the same time, the proponents of today's bills tell us that America simply cannot afford more to educate its children. Only the day before yesterday, the Senate refused to address the problem of soaring student debt, now bigger than credit card debt, exceeded only by the giant debt they want to incur for more tax breaks.

They tell us: we can't afford to do the research necessary to cure Alzheimer's or to find new solutions to cancer and AIDS and other dreaded diseases.

This is not about borrowing to raise small business up. This is just an excuse to reduce the government investment that we need to grow our economy.

Apparently, to the Republicans, deficits only matter when asking seniors and students and others to sacrifice, but not when it comes to adding one tax break after another.

Now, how did we get to the situation that we are in today? Well, there has been a convenient amnesia about the history of tax reform in this Congress. Last January, the gentleman from Ohio--the Speaker--and the gentleman from Virginia (Mr. Cantor) came to this floor and they said: America, have we got a deal for you.

10:45 AM EDT

Lloyd Doggett, D-TX 35th

Mr. DOGGETT. Mr. Speaker, it is clear that Republicans would dig our country into another trillion dollars of debt, borrowing from the Chinese, the Saudis, whoever will lend it to us.

They have already approved borrowing $614 billion for business tax breaks, and they have told us that there are more on the way, more tax privileges, more tax exceptions, more tax advantages.

This bill today is just another chapter in their ledger of accounts payable for the American taxpayers. Such fiscal irresponsibility doesn't represent a plan for genuine tax relief for small businesses or for anyone else.

I will say that I agree with them, that small businesses have every reason to complain, as do individual taxpayers, because the Tax Code that they have done so much to write is riddled with special treatment for those who pay more to their lobbyists here in Washington than they do to the U.S. Treasury.

It has been a wise investment for them, but a pretty sorry outcome for small business and individual taxpayers. We have some multinational companies who have set up hundreds of offshore subsidiaries to shift their profits out of America and into a place where they don't pay a dime.

I can tell you that the cleaning crew at the headquarters of General Electric pays a higher tax rate than General Electric does. That is not fair. They pay a higher tax rate than Joe's Bakery or Patty's Taco House down in San Antonio.

That is not fair. It ought to be corrected; but instead, they have added almost another $100 billion in tax loopholes that they have proposed and have approved in committee to help those folks continue dodging their taxes.

At the same time, the proponents of today's bills tell us that America simply cannot afford more to educate its children. Only the day before yesterday, the Senate refused to address the problem of soaring student debt, now bigger than credit card debt, exceeded only by the giant debt they want to incur for more tax breaks.

They tell us: we can't afford to do the research necessary to cure Alzheimer's or to find new solutions to cancer and AIDS and other dreaded diseases.

This is not about borrowing to raise small business up. This is just an excuse to reduce the government investment that we need to grow our economy.

Apparently, to the Republicans, deficits only matter when asking seniors and students and others to sacrifice, but not when it comes to adding one tax break after another.

Now, how did we get to the situation that we are in today? Well, there has been a convenient amnesia about the history of tax reform in this Congress. Last January, the gentleman from Ohio--the Speaker--and the gentleman from Virginia (Mr. Cantor) came to this floor and they said: America, have we got a deal for you.

10:48 AM EDT

Lloyd Doggett, D-TX 35th

Mr. DOGGETT. We have got a great deal for you. This big old fat Tax Code that is bigger than the Bible many times over, that we helped expand to resolve the needs of our special interest supporters, we are going to put it on a diet. We are going to thin it down.

We are going to give you a simple Tax Code that is easy to comply with. In addition to that, we are going to lower your rate; and you know what, we are going to do all that, and we are not going to add a penny to the national debt, and we will keep the rates relatively the same for everybody. [Page: H5334]

They reserved H.R. 1. They said: it is so important, we are going to make it the number one priority here. Where are we on that bill, I would ask the gentleman today; and I can tell you it is still reserved for the Speaker.

They have never brought it out, put it on this table, and given the American people a chance to vote on it because what happened was they went through a long process, they produced their draft bill, and the lobby went wild against it. They could not stand up to the very people that helped them write the complex, unfair Tax Code that we have today.

10:49 AM EDT

Lloyd Doggett, D-TX 35th

Mr. DOGGETT. They couldn't stand up to those special interests, so that bill, 18 months later--not the result of anything the Democrats did, not the result of anything the President did--they couldn't agree among themselves about how to respond to all those special interest pressures.

So they are back today, going one little bill at a time to add a few hundred billion here, a few hundred billion dollars there, and not provide the comprehensive tax reform they told us, themselves, they would be providing, and that is why we find ourselves in the predicament we are in today.

I agree with the gentleman, people in Ohio, across America, in Texas, and elsewhere, that they have reason to question this Congress, because a promise is just like that.

Promises to bring reform, to work together in a bipartisan fashion left on the cutting room floor because special interests, the people that don't pay their fair share of taxes today, they want to keep it that way. They want to continue to disadvantage small business and individual taxpayers.

Today, we need to say ``no'' to this measure and ``no'' to their other temporary measures and demand real reform.

10:49 AM EDT

Lloyd Doggett, D-TX 35th

Mr. DOGGETT. They couldn't stand up to those special interests, so that bill, 18 months later--not the result of anything the Democrats did, not the result of anything the President did--they couldn't agree among themselves about how to respond to all those special interest pressures.

So they are back today, going one little bill at a time to add a few hundred billion here, a few hundred billion dollars there, and not provide the comprehensive tax reform they told us, themselves, they would be providing, and that is why we find ourselves in the predicament we are in today.

I agree with the gentleman, people in Ohio, across America, in Texas, and elsewhere, that they have reason to question this Congress, because a promise is just like that.

Promises to bring reform, to work together in a bipartisan fashion left on the cutting room floor because special interests, the people that don't pay their fair share of taxes today, they want to keep it that way. They want to continue to disadvantage small business and individual taxpayers.

Today, we need to say ``no'' to this measure and ``no'' to their other temporary measures and demand real reform.

10:50 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:50 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield myself such time as I may consume.

Just for the record, the gentleman from Texas has voted for the policy of either increasing or extending section 179, without offsets, six times on a temporary basis for a total of 8 years.

10:50 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:50 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:54 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:54 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:54 AM EDT

Earl Blumenauer, D-OR 3rd

Mr. BLUMENAUER. I appreciate the gentleman's courtesy.

Mr. Speaker, I listened to my friend from Ohio talk about his concern for small businesses and the economy. I am reflecting on the thousands of businesses that were represented here on Capitol Hill this week, calling on Congress to get its act together, dealing with transportation funding.

We are facing a crisis in transportation in this country. The majority, because they couldn't put together a transportation bill last year, drove the highway trust fund down to zero. They milked every single dime to be able to get a 27-month extension.

What has happened? Well, actually, what has happened is that it is not even going to last until October 1. All across the country, States are cutting back on funding contracts now because the Department of Transportation is going to run out of money late this summer.

These people were rallying on Capitol Hill, large business, small business, environment, unions, from all across America, saying: Congress, get your act together.

I will note, with some small amount of irony, that my friends on the Ways and Means Committee have approved over $600 billion of tax breaks added to the deficit that would have fully funded not one 6-year transportation bill, but two robust transportation bills.

Did you listen to those small businesses? Did you listen to the contractors? Did you listen to the equipment rental people, the asphalt, the gravel, the concrete? To those people, we have turned a deaf ear.

The Ways and Means Committee, in 42 months, has not had a single hearing on transportation finance. We had one misguided work session on a bill that had never had the benefit of a hearing that collapsed. They passed it out of committee, but they couldn't even bring it to the floor, so we got this 27-month extension.

We are facing, this summer, losing 700,000 construction jobs because Congress refuses to act. My friends on Ways and Means won't even have a hearing on transportation, will approve $600 billion worth of tax cuts; but we are not dealing with a crisis for your State, for my State, red States, blue States, union and nonunion, big business, small business, the U.S. Chamber of Commerce, and the building trades. Let's get a grip.

10:54 AM EDT

Earl Blumenauer, D-OR 3rd

Mr. BLUMENAUER. I appreciate the gentleman's courtesy.

Mr. Speaker, I listened to my friend from Ohio talk about his concern for small businesses and the economy. I am reflecting on the thousands of businesses that were represented here on Capitol Hill this week, calling on Congress to get its act together, dealing with transportation funding.

We are facing a crisis in transportation in this country. The majority, because they couldn't put together a transportation bill last year, drove the highway trust fund down to zero. They milked every single dime to be able to get a 27-month extension.

What has happened? Well, actually, what has happened is that it is not even going to last until October 1. All across the country, States are cutting back on funding contracts now because the Department of Transportation is going to run out of money late this summer.

These people were rallying on Capitol Hill, large business, small business, environment, unions, from all across America, saying: Congress, get your act together.

I will note, with some small amount of irony, that my friends on the Ways and Means Committee have approved over $600 billion of tax breaks added to the deficit that would have fully funded not one 6-year transportation bill, but two robust transportation bills.

Did you listen to those small businesses? Did you listen to the contractors? Did you listen to the equipment rental people, the asphalt, the gravel, the concrete? To those people, we have turned a deaf ear.

The Ways and Means Committee, in 42 months, has not had a single hearing on transportation finance. We had one misguided work session on a bill that had never had the benefit of a hearing that collapsed. They passed it out of committee, but they couldn't even bring it to the floor, so we got this 27-month extension.

We are facing, this summer, losing 700,000 construction jobs because Congress refuses to act. My friends on Ways and Means won't even have a hearing on transportation, will approve $600 billion worth of tax cuts; but we are not dealing with a crisis for your State, for my State, red States, blue States, union and nonunion, big business, small business, the U.S. Chamber of Commerce, and the building trades. Let's get a grip.

10:54 AM EDT

Earl Blumenauer, D-OR 3rd

Mr. BLUMENAUER. I appreciate the gentleman's courtesy.

Mr. Speaker, I listened to my friend from Ohio talk about his concern for small businesses and the economy. I am reflecting on the thousands of businesses that were represented here on Capitol Hill this week, calling on Congress to get its act together, dealing with transportation funding.

We are facing a crisis in transportation in this country. The majority, because they couldn't put together a transportation bill last year, drove the highway trust fund down to zero. They milked every single dime to be able to get a 27-month extension.

What has happened? Well, actually, what has happened is that it is not even going to last until October 1. All across the country, States are cutting back on funding contracts now because the Department of Transportation is going to run out of money late this summer.

These people were rallying on Capitol Hill, large business, small business, environment, unions, from all across America, saying: Congress, get your act together.

I will note, with some small amount of irony, that my friends on the Ways and Means Committee have approved over $600 billion of tax breaks added to the deficit that would have fully funded not one 6-year transportation bill, but two robust transportation bills.

Did you listen to those small businesses? Did you listen to the contractors? Did you listen to the equipment rental people, the asphalt, the gravel, the concrete? To those people, we have turned a deaf ear.

The Ways and Means Committee, in 42 months, has not had a single hearing on transportation finance. We had one misguided work session on a bill that had never had the benefit of a hearing that collapsed. They passed it out of committee, but they couldn't even bring it to the floor, so we got this 27-month extension.

We are facing, this summer, losing 700,000 construction jobs because Congress refuses to act. My friends on Ways and Means won't even have a hearing on transportation, will approve $600 billion worth of tax cuts; but we are not dealing with a crisis for your State, for my State, red States, blue States, union and nonunion, big business, small business, the U.S. Chamber of Commerce, and the building trades. Let's get a grip.

10:58 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:58 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I would like to submit for the Record a letter addressed to me and the gentleman from Wisconsin, Representative Ron Kind, dated June 9, from many employers. In fact, it represents millions of job creators throughout America and their support for making permanent this provision of section 179 of our Tax Code.

NATIONAL ASSOCIATION

OF MANUFACTURERS,

June 10, 2014.

Dear Representatives: The National Association of Manufacturers (NAM), the largest manufacturing association in the United States representing manufacturers in every industrial sector and in all 50 states, urges you to support H.R. 4457, America's Small Business Tax Relief Act of 2014, introduced by Reps. Pat Tiberi (R-OH) and Ron Kind (D-WI). This bipartisan legislation restores and makes permanent the enhanced Section 179 expensing provisions that expired at the end of 2013.

Enhanced Section 179 expensing allows small and medium-sized manufacturers to immediately write off up to $500,000 of investments in new property and equipment in the year purchased, rather than depreciating the cost of the investment overtime. Making this provision a permanent part of the tax code will provide these job creators with the certainty needed for effective business planning. In reducing the after-tax cost of investments, the legislation will help spur much-needed investments in new

property and sales of capital equipment. Since 2003, Congress has steadily increased the amount of investment that small businesses can expense, from $25,000 to $500,000.

Capital investment is key to economic growth, job creation and competitiveness. Thus, NAM members strongly support H.R. 4457 and urge Congress to pass this important legislation.

The NAM's Key Vote Advisory Committee has indicated that votes on H.R. 4457 may be considered for designation as Key Manufacturing Votes in the 113th Congress.

Thank you for your consideration.

--

June 9, 2014.

Hon. Pat Tiberi,

House of Representatives, Cannon House Office Building, Washington, DC.

Hon. Ron Kind,

House of Representatives, Longworth House Office Building, Washington, DC.

Dear Representatives Tiberi and Kind: The undersigned organizations, representing millions of businesses from every state and from every industry sector, are writing in strong support of H.R. 4457, the America's Small Business Tar Relief Act of 2014. This vital legislation would restore the small business expensing--sometimes called Section 179 expensing--level to $500,000, including limited improvements to real property and permanently index the level to inflation.

Small business expensing allows business owners to immediately deduct the cost of a qualified investment in the year that it is purchased, rather than being forced to depreciate the cost of the investment over time. Since 2003, Congress has steadily increased the amount of investment that small businesses can expense from $25,000 to $500,000. Support for this expansion has been long-standing, bipartisan and widespread. Legislation expanding and/or extending small business expensing has been enacted

eight times, across two Presidential Administrations and six Congresses, under both Democratic and Republican leadership. These higher expensing limits were temporary, however, and beginning in 2014 they reverted to $25,000 and will remain there unless Congress acts.

While expensing provides important relief to small business owners, it is not a ``tax cut'' or a ``tax loophole.'' Small business expensing simply gives companies the ability to recover the cost of investing in their own businesses more quickly than if they use depreciation. Expensing does not lead to a loss of revenue to the government over the lifetime of an investment--it is not a matter of if revenue is collected, but when. Additionally, small business expensing is available to all small

businesses that purchase less than a specified amount of equipment each year.

Small business expensing gives business owners the ability to maximize investment in their companies during years when they have positive cash flow. This provides an incentive for small business owners to reinvest in their businesses, which fuels expansion, growth and jobs. This is particularly important for small businesses because they are more sensitive than larger firms to problems related to cash flow and are more reliant on earnings to finance new investment.

Additionally, small business expensing simplifies record-keeping and paperwork. Under standard depreciation, small business owners must keep records of, and file tax paperwork associated with, eligible investments for up to 39 years. According to a 2007 Internal Revenue Service (IRS) study, each small business devotes, on average, about 240 hours complying with the tax code, and spends over $2,000 in tax compliance costs each year. An overwhelming share of the time burden is due to record-keeping.

Furthermore, high tax compliance costs consistently rank as a top concern of small business owners, and act as a drag on investment, growth and innovation. Small business expensing, as the Joint Committee on Taxation (JCT) notes, reduces the compliance burden for many taxpayers, freeing up time and resources to better devote to their businesses.

The roller-coaster, ad-hoc changes in the level of small business expensing, which have often been enacted retroactively in recent years, has greatly contributed to uncertainty and prevented long-term planning. Making the higher small business expensing limits permanent and predictable would greatly reduce uncertainty and reduce the incidence of tax policy driving business decisions.

Passage of legislation permanently maintaining small business expensing at $500,000 will increase investment and jobs, reduce complexity and paperwork and alleviate uncertainty. These are critical issues for small businesses, which continue to experience a challenging business climate in the face of a stagnant economic recovery. We thank you for introducing H.R. 4457, the America's Small Business Tar Relief Act of 2014 and urge all Members of Congress to support this important legislation.

Sincerely,

Academy of General Dentistry, Advanced Medical Technology Association's Emerging Growth Company Council, Aeronautical Repair Station Association, Agricultural Retailers Association, Air Conditioning Contractors of America, American Apparel & Footwear Association, American Association of Small Property Owners, American Composites Manufacturers Association, American Council of Engineering Companies, American Dental Association, American Farm Bureau Federation.

American Foundry Society, American Loggers Council, American Moving & Storage Association, American Rental Association, American Road & Transportation Builders Association, American Society of Travel Agents, American Sugarbeet Growers Association, American Supply Association, American Truck Dealers, Americans for Tax Reform, AMT--The Association For Manufacturing Technology, Arizona Small Business Association.

Associated Builders and Contractors, Associated Builders and Contractors--Greater Tennessee Chapter, Associated Builders and Contractors Florida East Coast Chapter, Associated Builders and Contractors, Rocky Mountain Chapter, Associated Equipment Distributors, Associated General Contractors, Associated Oregon Loggers, Inc., Association of Equipment Manufacturers, Association of Pool & Spa Professionals, Association of the Wall and Ceiling Industry.

Auto Care Association, Aviation Suppliers Association, California Farm Bureau Federation, Carolinas Food Industry Council, CCIM Institute, Chamber of Commerce Southern, New Jersey, Clean Water Construction Coalition, Colorado Wyoming Petroleum Marketers Association, Construction Industry Round Table, Cotton Warehouse Association of America, Delaware Retail Council.

Delaware State Chamber of Commerce, Foodservice Equipment Distributors Association, Great Lakes Timber Professionals Association, Hearth, Patio & Barbecue Association, Heating, Air-Conditioning and Refrigeration Distributors International (HARDI), Independent Electrical Contractors, Indiana Chamber of Commerce, Indiana Manufacturers Association, Industrial Supply Association, Inland Pacific Chapter Associated Builders & Contractors, Institute of Real Estate Management.

International Association of Plastics Distribution (IAPD), International Cemetery, Cremation and Funeral Association, International Council of Shopping Centers, International Dairy Foods Association, International Franchise Association, International Warehouse Logistics Association, Irrigation Association, ISSA--The Worldwide Cleaning Industry Association, Louisiana Logging Council, Metals Service Center Institute, Michigan Association of Timbermen, Michigan Grocers Association.

Missouri Forest Products Association, Modification and Replacement Parts Association, Montana Equipment Dealers Association, Montana Restaurant Association, Montana Retail Association, Montana Tire Dealers Association, National Apartment Association, National Association of Chemical Distributers, National Association of Convenience Stores, National Association of Electrical Distributors, National Association of Home Builders.

National Council of Chain Restaurants, National Electrical Manufacturers Representatives Association, National Fastener Distributors Association, National Federation of Independent Business, National Funeral Directors Association, National Golf Course Owners Association, National Grocers Association, National Lumber and Building Material Dealers Association, National Marine Distributors Association, National Multifamily Housing Council.

National Pork Producers Council, National Potato Council, National Propane Gas Association, National Restaurant Association, [Page: H5336]

National Retail Federation, National Roofing Contractors Association, National Small Business Association, National Sorghum Producers, National Stone, Sand and Gravel Association, National Utility Contractors Association (NUCA), NATSO, Representing America's Truckstops and Travel Plazas, New Jersey Business & Industry Association.

Non-Ferrous Founders' Society, North Carolina Retail Merchants Association, North Country Chamber of Commerce, North-American Association of Uniform Manufacturers & Distributors, Northern Arizona Loggers Association, NPES The Association for Suppliers of Printing, Publishing and Converting Technologies, NTEA--The Association for the Work Truck Industry, Ohio Grocers Association, Outdoor Power Equipment and Engine Service Association, Pacific-West Fastener Association, Pennsylvania Chamber of

Business and Industry.

Petroleum Marketers & Convenience Stores of Iowa, Petroleum Marketers and Convenience Store Association of Kansas, Petroleum Marketers Association of America, Plumbing-Heating-Cooling Contractors' National Association, Printing Industries of America, Professional Logging Contractors of Maine, S Corporation Association, SC Timber Producers Association, Selected Independent Funeral Homes, Small Business & Entrepreneurship Council.

Small Business Legislative Counsel, Society of American Florists, South Carolina Retail Association, SouthWestern Association, Specialty Equipment Market Association, SP1: The Plastics Industry Trade Association, Tennessee Hospitality & Tourism Association, Textile Care Allied Trades Association.

The Outdoor Power Equipment and Engine Service Association (OPEESA), Tire Industry Association, Truck Renting and Leasing Association, U.S. Chamber of Commerce, United Egg Producers, United Producers, Inc., USA Rice Federation.

Utility & Transportation Contractors Association of New Jersey, Western Growers Association, Western United Dairymen, Wichita Independent Business Association, Wisconsin Grocers Association, Wisconsin Manufacturers & Commerce, Wisconsin Restaurant Association, Woodworking Machinery Industry Association.

10:58 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I would like to submit for the Record a letter addressed to me and the gentleman from Wisconsin, Representative Ron Kind, dated June 9, from many employers. In fact, it represents millions of job creators throughout America and their support for making permanent this provision of section 179 of our Tax Code.

NATIONAL ASSOCIATION

OF MANUFACTURERS,

June 10, 2014.

Dear Representatives: The National Association of Manufacturers (NAM), the largest manufacturing association in the United States representing manufacturers in every industrial sector and in all 50 states, urges you to support H.R. 4457, America's Small Business Tax Relief Act of 2014, introduced by Reps. Pat Tiberi (R-OH) and Ron Kind (D-WI). This bipartisan legislation restores and makes permanent the enhanced Section 179 expensing provisions that expired at the end of 2013.

Enhanced Section 179 expensing allows small and medium-sized manufacturers to immediately write off up to $500,000 of investments in new property and equipment in the year purchased, rather than depreciating the cost of the investment overtime. Making this provision a permanent part of the tax code will provide these job creators with the certainty needed for effective business planning. In reducing the after-tax cost of investments, the legislation will help spur much-needed investments in new

property and sales of capital equipment. Since 2003, Congress has steadily increased the amount of investment that small businesses can expense, from $25,000 to $500,000.

Capital investment is key to economic growth, job creation and competitiveness. Thus, NAM members strongly support H.R. 4457 and urge Congress to pass this important legislation.

The NAM's Key Vote Advisory Committee has indicated that votes on H.R. 4457 may be considered for designation as Key Manufacturing Votes in the 113th Congress.

Thank you for your consideration.

--

June 9, 2014.

Hon. Pat Tiberi,

House of Representatives, Cannon House Office Building, Washington, DC.

Hon. Ron Kind,

House of Representatives, Longworth House Office Building, Washington, DC.

Dear Representatives Tiberi and Kind: The undersigned organizations, representing millions of businesses from every state and from every industry sector, are writing in strong support of H.R. 4457, the America's Small Business Tar Relief Act of 2014. This vital legislation would restore the small business expensing--sometimes called Section 179 expensing--level to $500,000, including limited improvements to real property and permanently index the level to inflation.

Small business expensing allows business owners to immediately deduct the cost of a qualified investment in the year that it is purchased, rather than being forced to depreciate the cost of the investment over time. Since 2003, Congress has steadily increased the amount of investment that small businesses can expense from $25,000 to $500,000. Support for this expansion has been long-standing, bipartisan and widespread. Legislation expanding and/or extending small business expensing has been enacted

eight times, across two Presidential Administrations and six Congresses, under both Democratic and Republican leadership. These higher expensing limits were temporary, however, and beginning in 2014 they reverted to $25,000 and will remain there unless Congress acts.

While expensing provides important relief to small business owners, it is not a ``tax cut'' or a ``tax loophole.'' Small business expensing simply gives companies the ability to recover the cost of investing in their own businesses more quickly than if they use depreciation. Expensing does not lead to a loss of revenue to the government over the lifetime of an investment--it is not a matter of if revenue is collected, but when. Additionally, small business expensing is available to all small

businesses that purchase less than a specified amount of equipment each year.

Small business expensing gives business owners the ability to maximize investment in their companies during years when they have positive cash flow. This provides an incentive for small business owners to reinvest in their businesses, which fuels expansion, growth and jobs. This is particularly important for small businesses because they are more sensitive than larger firms to problems related to cash flow and are more reliant on earnings to finance new investment.

Additionally, small business expensing simplifies record-keeping and paperwork. Under standard depreciation, small business owners must keep records of, and file tax paperwork associated with, eligible investments for up to 39 years. According to a 2007 Internal Revenue Service (IRS) study, each small business devotes, on average, about 240 hours complying with the tax code, and spends over $2,000 in tax compliance costs each year. An overwhelming share of the time burden is due to record-keeping.

Furthermore, high tax compliance costs consistently rank as a top concern of small business owners, and act as a drag on investment, growth and innovation. Small business expensing, as the Joint Committee on Taxation (JCT) notes, reduces the compliance burden for many taxpayers, freeing up time and resources to better devote to their businesses.

The roller-coaster, ad-hoc changes in the level of small business expensing, which have often been enacted retroactively in recent years, has greatly contributed to uncertainty and prevented long-term planning. Making the higher small business expensing limits permanent and predictable would greatly reduce uncertainty and reduce the incidence of tax policy driving business decisions.

Passage of legislation permanently maintaining small business expensing at $500,000 will increase investment and jobs, reduce complexity and paperwork and alleviate uncertainty. These are critical issues for small businesses, which continue to experience a challenging business climate in the face of a stagnant economic recovery. We thank you for introducing H.R. 4457, the America's Small Business Tar Relief Act of 2014 and urge all Members of Congress to support this important legislation.

Sincerely,

Academy of General Dentistry, Advanced Medical Technology Association's Emerging Growth Company Council, Aeronautical Repair Station Association, Agricultural Retailers Association, Air Conditioning Contractors of America, American Apparel & Footwear Association, American Association of Small Property Owners, American Composites Manufacturers Association, American Council of Engineering Companies, American Dental Association, American Farm Bureau Federation.

American Foundry Society, American Loggers Council, American Moving & Storage Association, American Rental Association, American Road & Transportation Builders Association, American Society of Travel Agents, American Sugarbeet Growers Association, American Supply Association, American Truck Dealers, Americans for Tax Reform, AMT--The Association For Manufacturing Technology, Arizona Small Business Association.

Associated Builders and Contractors, Associated Builders and Contractors--Greater Tennessee Chapter, Associated Builders and Contractors Florida East Coast Chapter, Associated Builders and Contractors, Rocky Mountain Chapter, Associated Equipment Distributors, Associated General Contractors, Associated Oregon Loggers, Inc., Association of Equipment Manufacturers, Association of Pool & Spa Professionals, Association of the Wall and Ceiling Industry.

Auto Care Association, Aviation Suppliers Association, California Farm Bureau Federation, Carolinas Food Industry Council, CCIM Institute, Chamber of Commerce Southern, New Jersey, Clean Water Construction Coalition, Colorado Wyoming Petroleum Marketers Association, Construction Industry Round Table, Cotton Warehouse Association of America, Delaware Retail Council.

Delaware State Chamber of Commerce, Foodservice Equipment Distributors Association, Great Lakes Timber Professionals Association, Hearth, Patio & Barbecue Association, Heating, Air-Conditioning and Refrigeration Distributors International (HARDI), Independent Electrical Contractors, Indiana Chamber of Commerce, Indiana Manufacturers Association, Industrial Supply Association, Inland Pacific Chapter Associated Builders & Contractors, Institute of Real Estate Management.

International Association of Plastics Distribution (IAPD), International Cemetery, Cremation and Funeral Association, International Council of Shopping Centers, International Dairy Foods Association, International Franchise Association, International Warehouse Logistics Association, Irrigation Association, ISSA--The Worldwide Cleaning Industry Association, Louisiana Logging Council, Metals Service Center Institute, Michigan Association of Timbermen, Michigan Grocers Association.

Missouri Forest Products Association, Modification and Replacement Parts Association, Montana Equipment Dealers Association, Montana Restaurant Association, Montana Retail Association, Montana Tire Dealers Association, National Apartment Association, National Association of Chemical Distributers, National Association of Convenience Stores, National Association of Electrical Distributors, National Association of Home Builders.

National Council of Chain Restaurants, National Electrical Manufacturers Representatives Association, National Fastener Distributors Association, National Federation of Independent Business, National Funeral Directors Association, National Golf Course Owners Association, National Grocers Association, National Lumber and Building Material Dealers Association, National Marine Distributors Association, National Multifamily Housing Council.

National Pork Producers Council, National Potato Council, National Propane Gas Association, National Restaurant Association, [Page: H5336]

National Retail Federation, National Roofing Contractors Association, National Small Business Association, National Sorghum Producers, National Stone, Sand and Gravel Association, National Utility Contractors Association (NUCA), NATSO, Representing America's Truckstops and Travel Plazas, New Jersey Business & Industry Association.

Non-Ferrous Founders' Society, North Carolina Retail Merchants Association, North Country Chamber of Commerce, North-American Association of Uniform Manufacturers & Distributors, Northern Arizona Loggers Association, NPES The Association for Suppliers of Printing, Publishing and Converting Technologies, NTEA--The Association for the Work Truck Industry, Ohio Grocers Association, Outdoor Power Equipment and Engine Service Association, Pacific-West Fastener Association, Pennsylvania Chamber of

Business and Industry.

Petroleum Marketers & Convenience Stores of Iowa, Petroleum Marketers and Convenience Store Association of Kansas, Petroleum Marketers Association of America, Plumbing-Heating-Cooling Contractors' National Association, Printing Industries of America, Professional Logging Contractors of Maine, S Corporation Association, SC Timber Producers Association, Selected Independent Funeral Homes, Small Business & Entrepreneurship Council.

Small Business Legislative Counsel, Society of American Florists, South Carolina Retail Association, SouthWestern Association, Specialty Equipment Market Association, SP1: The Plastics Industry Trade Association, Tennessee Hospitality & Tourism Association, Textile Care Allied Trades Association.

The Outdoor Power Equipment and Engine Service Association (OPEESA), Tire Industry Association, Truck Renting and Leasing Association, U.S. Chamber of Commerce, United Egg Producers, United Producers, Inc., USA Rice Federation.

Utility & Transportation Contractors Association of New Jersey, Western Growers Association, Western United Dairymen, Wichita Independent Business Association, Wisconsin Grocers Association, Wisconsin Manufacturers & Commerce, Wisconsin Restaurant Association, Woodworking Machinery Industry Association.

10:58 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

10:59 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I would like to read from the letter that I received from the National Association of Manufacturers. Having certainty over the tax treatment of critical investments will make planning for future investments significantly easier.

Capital investment is key to economic growth, job creation, and competitiveness.

Consequently, enactment of this policy would amount to a major step towards a Tax Code that will promote investment.

[Time: 11:00]

Mr. Speaker, again, this is all about jobs. Whether it is on a family farm, whether it is in a mulch business, whether it is a small manufacturer, this is about increasing jobs. Even Mr. Lew said we have a significant problem that we are facing about capital investments. This is, over the last 50 years, a tried-and-true provision that we know creates jobs. And to provide certainty is so critical. If we talk to those job creators--I have talked to them, Mr. Speaker. This is so important to give

them certainty over time, not retroactivity like the narrative that we fall into.

With that, I reserve the balance of my time.

11:00 AM EDT

Ron Kind, D-WI 3rd

Mr. KIND. Mr. Speaker, I thank my friend for yielding me this time.

For the record, Mr. Speaker, I was proud earlier this year to introduce the America's Small Business Tax Relief Act with my good friend and colleague from the Ways and Means Committee, Mr. Tiberi, the small business expensing provision that is before us.

I get the feeling that during today's debate we are talking past each other because I fully support the policy goals behind the small business expensing bill. It is important that we find a way to get this done. It is important that we establish permanency in the Tax Code, just as I was supportive of introducing legislation on the S Corporation Modernization bill earlier this year with my friend, Dave Reichert, on the committee. Many of those provisions were addressed earlier this morning.

But the difference in today's debate, and really the difference in our party's approach to this policy change, comes down to one simple idea: whether we are going to have the fiscal discipline to pay for these permanent changes in the Tax Code or whether we are going to continue to wrack up the debt and leave a legacy of debt for these children, our children and grandchildren, throughout the country.

That is the only difference that we have in today's debate, not about the policy behind it and the permanent nature and the importance to small businesses and family farmers, but whether we are going to exercise the fiscal discipline to do this the right way rather than continuing to dig this deficit hole deeper and leaving this for future generations to contend with. That is why I encourage my colleagues to vote ``no'' and continue focusing on comprehensive tax reform.

Mr. Speaker, earlier this year, I give the chairman of our committee, Dave Camp, credit for introducing a draft discussion proposal on comprehensive reform because we have been guided in the last few years under a simple rule of proposition that if we are going to reduce tax rates, if we are going to broaden the base, and if we are going to simplify the Code and make it more competitive, then we have to find offsets in it so we are not blowing holes in the deficit in the future. And

Chairman Camp stayed true to that discipline.

What is ironic is that now, just a few short weeks after the introduction of that, we are right back into these old bad habits of introducing tax cuts with no pay-fors--with no offsets--just to increase the debt for future generations. And what is especially ironic today is this comes just a few short weeks after they passed their own Republican budget resolution that has specifically stated in it that if we are going to do permanent change to the Tax Code, they have to be offset. They have to

be paid for.

So which is it? A few weeks ago when you were singing the praises of fiscal discipline supporting that budget resolution and talking about how you are going to make the tough choices? Or today, with permanently changing with no offsets? And there is a difference, I tell my friend from Ohio, between some of the short-term extensions that are meant to keep the pressure on permanent changes versus what is being attempted today.

Because he knows, as I do, and as everyone else knows, that the number of times that this Congress has taken a vote for a permanent change in the Tax Code with no pay-for and no offset has been zero. It has been zero.

11:00 AM EDT

Ron Kind, D-WI 3rd

Mr. KIND. Mr. Speaker, I thank my friend for yielding me this time.

For the record, Mr. Speaker, I was proud earlier this year to introduce the America's Small Business Tax Relief Act with my good friend and colleague from the Ways and Means Committee, Mr. Tiberi, the small business expensing provision that is before us.

I get the feeling that during today's debate we are talking past each other because I fully support the policy goals behind the small business expensing bill. It is important that we find a way to get this done. It is important that we establish permanency in the Tax Code, just as I was supportive of introducing legislation on the S Corporation Modernization bill earlier this year with my friend, Dave Reichert, on the committee. Many of those provisions were addressed earlier this morning.

But the difference in today's debate, and really the difference in our party's approach to this policy change, comes down to one simple idea: whether we are going to have the fiscal discipline to pay for these permanent changes in the Tax Code or whether we are going to continue to wrack up the debt and leave a legacy of debt for these children, our children and grandchildren, throughout the country.

That is the only difference that we have in today's debate, not about the policy behind it and the permanent nature and the importance to small businesses and family farmers, but whether we are going to exercise the fiscal discipline to do this the right way rather than continuing to dig this deficit hole deeper and leaving this for future generations to contend with. That is why I encourage my colleagues to vote ``no'' and continue focusing on comprehensive tax reform.

Mr. Speaker, earlier this year, I give the chairman of our committee, Dave Camp, credit for introducing a draft discussion proposal on comprehensive reform because we have been guided in the last few years under a simple rule of proposition that if we are going to reduce tax rates, if we are going to broaden the base, and if we are going to simplify the Code and make it more competitive, then we have to find offsets in it so we are not blowing holes in the deficit in the future. And

Chairman Camp stayed true to that discipline.

What is ironic is that now, just a few short weeks after the introduction of that, we are right back into these old bad habits of introducing tax cuts with no pay-fors--with no offsets--just to increase the debt for future generations. And what is especially ironic today is this comes just a few short weeks after they passed their own Republican budget resolution that has specifically stated in it that if we are going to do permanent change to the Tax Code, they have to be offset. They have to

be paid for.

So which is it? A few weeks ago when you were singing the praises of fiscal discipline supporting that budget resolution and talking about how you are going to make the tough choices? Or today, with permanently changing with no offsets? And there is a difference, I tell my friend from Ohio, between some of the short-term extensions that are meant to keep the pressure on permanent changes versus what is being attempted today.

Because he knows, as I do, and as everyone else knows, that the number of times that this Congress has taken a vote for a permanent change in the Tax Code with no pay-for and no offset has been zero. It has been zero.

11:04 AM EDT

Ron Kind, D-WI 3rd

Mr. KIND. But what we also know around here is what does work. And what does work is pay-as-you-go budgetary rules. That was something that was in place during the 1990s with the support of President George H. W. Bush at the time and President Clinton at the time. And because of a strong, growing, robust economy that created 24 million jobs during that time, and along with pay-as-you-go budgeting discipline, we ended up with 4 years of budget surpluses that we were paying down the national debt

rather than adding to it. And that soon was replaced by the next administration and a Republican Congress that supported two wars with no pay-fors, supported two large tax cuts with no pay-fors, and supported the largest increase in Medicare spending--the part D prescription drug bill--without a nickel of it being paid for and supported the largest increase in discretionary spending since the Great Society without paying for any of it.

So when President Obama took office, he inherited--he inherited--a $1.5 trillion budget deficit. And if the people are wondering how we dig a hole like that, they need only look at bills that are on the floor today. We are talking about permanent changes to the Tax Code with no pay-fors.

We can do better. I know it is hard work to do comprehensive tax reform. It means our having to stand up and saying no to a lot of powerful special interests in this town, but it is exactly what we have to have the courage to do to do it the right way so we are not leaving this legacy of debt to these children and to future generations to wrestle with.

I encourage my colleagues to vote ``no'' on this legislation.

11:04 AM EDT

Ron Kind, D-WI 3rd

Mr. KIND. But what we also know around here is what does work. And what does work is pay-as-you-go budgetary rules. That was something that was in place during the 1990s with the support of President George H. W. Bush at the time and President Clinton at the time. And because of a strong, growing, robust economy that created 24 million jobs during that time, and along with pay-as-you-go budgeting discipline, we ended up with 4 years of budget surpluses that we were paying down the national debt

rather than adding to it. And that soon was replaced by the next administration and a Republican Congress that supported two wars with no pay-fors, supported two large tax cuts with no pay-fors, and supported the largest increase in Medicare spending--the part D prescription drug bill--without a nickel of it being paid for and supported the largest increase in discretionary spending since the Great Society without paying for any of it.

So when President Obama took office, he inherited--he inherited--a $1.5 trillion budget deficit. And if the people are wondering how we dig a hole like that, they need only look at bills that are on the floor today. We are talking about permanent changes to the Tax Code with no pay-fors.

We can do better. I know it is hard work to do comprehensive tax reform. It means our having to stand up and saying no to a lot of powerful special interests in this town, but it is exactly what we have to have the courage to do to do it the right way so we are not leaving this legacy of debt to these children and to future generations to wrestle with.

I encourage my colleagues to vote ``no'' on this legislation.

11:06 AM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. Mr. Speaker, I yield myself such time as I may consume.

The fact of the matter is that this provision is going to be extended. And [Page: H5337]

you can vote for Mr. Neal's motion to recommit. I guess it is against your creed to vote for it, so you can vote ``no.'' But you will vote later. And it may be a few months from now, it may not be until after the election. I think it would be better to do it now, if not now then in the next month.

So don't scare, Mr. Tiberi, the small business people in your district. Tell them what the reality is. We are going to extend this. But we are not going to make it permanent unpaid for. It hasn't been done before for good reason, including the need to review it now and then, and also to take into account the cost. I think what the Republicans are doing, to kind of use an old slogan, an old way of saying it, you are giving hypocrisy a bad name.

This is contrary to your budget that you voted for. It is contrary to the Republican Ways and Means tax provisions put together under the leadership of Mr. Dave Camp. What is going to happen is, when you add all this together, you have an astronomical addition to the debt--$614 billion, climbing, if you follow this path, to $1 trillion.

So, I think there is no choice here to avoid hypocrisy, or if you want to continue the hypocrisy on your side, vote for this. We are not going to do that. This is a bad idea to proceed this way. We support continuation of this provision, in a responsible, not an irresponsible way, and in a way that isn't reckless.

So I strongly urge all the Democrats to look at the full picture here, the hypocrisy on their side and the ramifications, if we continue on this path, for the programs that we believe in, the programs that have helped to make the middle class of America and the programs that need to be continued and not snuffed out because the Republicans, on the one hand, essentially skyrocketed the debt, and then they come back to us and say, we are sorry that we are so in debt that we have to keep cutting

the programs that middle America counts on for their livelihood, for their jobs, for their education, and their health.

So I strongly urge a ``no'' vote, and I look forward to the motion to recommit by Mr. Neal.

Mr. Speaker, I yield back the balance of my time.

11:06 AM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. Mr. Speaker, I yield myself such time as I may consume.

The fact of the matter is that this provision is going to be extended. And [Page: H5337]

you can vote for Mr. Neal's motion to recommit. I guess it is against your creed to vote for it, so you can vote ``no.'' But you will vote later. And it may be a few months from now, it may not be until after the election. I think it would be better to do it now, if not now then in the next month.

So don't scare, Mr. Tiberi, the small business people in your district. Tell them what the reality is. We are going to extend this. But we are not going to make it permanent unpaid for. It hasn't been done before for good reason, including the need to review it now and then, and also to take into account the cost. I think what the Republicans are doing, to kind of use an old slogan, an old way of saying it, you are giving hypocrisy a bad name.

This is contrary to your budget that you voted for. It is contrary to the Republican Ways and Means tax provisions put together under the leadership of Mr. Dave Camp. What is going to happen is, when you add all this together, you have an astronomical addition to the debt--$614 billion, climbing, if you follow this path, to $1 trillion.

So, I think there is no choice here to avoid hypocrisy, or if you want to continue the hypocrisy on your side, vote for this. We are not going to do that. This is a bad idea to proceed this way. We support continuation of this provision, in a responsible, not an irresponsible way, and in a way that isn't reckless.

So I strongly urge all the Democrats to look at the full picture here, the hypocrisy on their side and the ramifications, if we continue on this path, for the programs that we believe in, the programs that have helped to make the middle class of America and the programs that need to be continued and not snuffed out because the Republicans, on the one hand, essentially skyrocketed the debt, and then they come back to us and say, we are sorry that we are so in debt that we have to keep cutting

the programs that middle America counts on for their livelihood, for their jobs, for their education, and their health.

So I strongly urge a ``no'' vote, and I look forward to the motion to recommit by Mr. Neal.

Mr. Speaker, I yield back the balance of my time.

11:06 AM EDT

Sander Levin, D-MI 12th

Mr. LEVIN. Mr. Speaker, I yield myself such time as I may consume.

The fact of the matter is that this provision is going to be extended. And [Page: H5337]

you can vote for Mr. Neal's motion to recommit. I guess it is against your creed to vote for it, so you can vote ``no.'' But you will vote later. And it may be a few months from now, it may not be until after the election. I think it would be better to do it now, if not now then in the next month.

So don't scare, Mr. Tiberi, the small business people in your district. Tell them what the reality is. We are going to extend this. But we are not going to make it permanent unpaid for. It hasn't been done before for good reason, including the need to review it now and then, and also to take into account the cost. I think what the Republicans are doing, to kind of use an old slogan, an old way of saying it, you are giving hypocrisy a bad name.

This is contrary to your budget that you voted for. It is contrary to the Republican Ways and Means tax provisions put together under the leadership of Mr. Dave Camp. What is going to happen is, when you add all this together, you have an astronomical addition to the debt--$614 billion, climbing, if you follow this path, to $1 trillion.

So, I think there is no choice here to avoid hypocrisy, or if you want to continue the hypocrisy on your side, vote for this. We are not going to do that. This is a bad idea to proceed this way. We support continuation of this provision, in a responsible, not an irresponsible way, and in a way that isn't reckless.

So I strongly urge all the Democrats to look at the full picture here, the hypocrisy on their side and the ramifications, if we continue on this path, for the programs that we believe in, the programs that have helped to make the middle class of America and the programs that need to be continued and not snuffed out because the Republicans, on the one hand, essentially skyrocketed the debt, and then they come back to us and say, we are sorry that we are so in debt that we have to keep cutting

the programs that middle America counts on for their livelihood, for their jobs, for their education, and their health.

So I strongly urge a ``no'' vote, and I look forward to the motion to recommit by Mr. Neal.

Mr. Speaker, I yield back the balance of my time.

11:09 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield myself such time as I may consume.

I will tell the gentleman from Michigan my constituents don't have to be scared. They watch us. I don't have to tell them anything. And I am certainly not going to tell Mr. Skinner or Mr. Price, trust us, we will retroactively, we will, ladies and gentlemen, we will retroactively--because we are going to surrender today--we are going to retroactively pass a policy in November or December to allow you to expense something that you bought in June, because today Mr. Price needs to buy a loader for

his mulch business.

And he scratches his head; retroactively? Retroactively? You guys don't know what operating businesses are all about if you are talking about retroactively, because that has been the narrative here. The other narrative is that the Senate is not going to do it. Well, with all due respect, after the R&D tax credit debate on this floor when the same argument was used, Senator Barbara Boxer--not someone who I agree with a lot on things--said that maybe we should look at making that permanent.

Senator Dick Durbin from Illinois, a member of the Democrat leadership, opened up the possibility of maybe we should make some of these permanent. Tom and Judy Price would be proud of Mr. Durbin. I don't know if Mr. Durbin has run a business or not, but Mr. Price does with his wife.

Ladies and gentlemen, this should be about common sense. Nobody is pure here. We have all added to the deficit. I would argue that the deficit was much higher when the other side was in control. Those are numbers. Less today, less last year, a lot more than 2009, I think we would all agree, the deficit, yearly deficit, the debt is certainly higher. The MTR will create debt. According to the Joint Tax, my bill will as well.

But this is about job creators, about allowing them to invest, invest to grow their businesses, to hire more employees, the American Dream that my mom and dad came here to believe and live in, ladies and gentlemen. In a House that my daughter--my daughter in sixth grade understands that we have a right as a House to pass a bill and have a position that might be different than the Senate's. God forgive us for having a different position than the Senate. But just because the Senate wants to do

2 years doesn't mean we have to do 2 years.

I don't understand that narrative. Even some of my colleagues say, well, why are we doing this because the Senate doesn't agree? Give me a break, ladies and gentlemen. Let's have a conference committee for once. Wouldn't that be great? That would be grand. And we can fight it out in conference committee just like the Founders told us we should.

Ladies and gentlemen, with respect to tax policy, there has been no Member of the House, the Senate, and the administration that has provided leadership to get to comprehensive tax reform like David Camp. He has been bipartisan, he has been open, and he has provided incredible leadership. But as all of us know in looking at history, one House can't provide leadership. You need an executive at the White House who is going to provide leadership. And, quite frankly, we have had none.

I credit Ron Wyden, the chairman of the Senate, he has got a bill at least. He has got a draft. I might not agree with his draft, but he has a right to have a draft, and the Senate has a right to have a position. And do you know what? Maybe one day we will get there soon, Mr. Neal. I know you are for that. I am for that. But we should have a House position. We should not surrender to the Senate.

But to get comprehensive tax reform done, ladies and gentlemen, we have to have leadership in the White House. We can't do it alone.

I thank Mr. Camp for his service. He has moved the ball on comprehensive tax reform greater than anybody has here since I have been here. But today is not about comprehensive tax reform, unfortunately. It is about providing certainty to small businessowners--our job creators in America. This is what they want. This is what they need. This is what has been proven to be successful to allow them to expand their businesses. And today, if Tom Price buys a loader for $200,000, he has to expense

it over 7 years. His cash flow is killed, and I am not going to go tell him, ``don't worry. Trust me. We will do it in December retroactively.'' I will not do that.

[Time: 11:15]

We need to have a position. We need to do it today. We need to do it right. This is about policy. This shouldn't be about politics. This should be about the House's position.

I urge each and every one of my colleagues to put the politics aside, quite frankly, and support this bill, have the House have a position, and let's challenge the Senate, and let's do it before November, before December. Let's do it now.

I yield back the balance of my time.

11:10 AM EDT

Patrick Tiberi, R-OH 12th

Mr. TIBERI. Mr. Speaker, I yield myself such time as I may consume.

I will tell the gentleman from Michigan my constituents don't have to be scared. They watch us. I don't have to tell them anything. And I am certainly not going to tell Mr. Skinner or Mr. Price, trust us, we will retroactively, we will, ladies and gentlemen, we will retroactively--because we are going to surrender today--we are going to retroactively pass a policy in November or December to allow you to expense something that you bought in June, because today Mr. Price needs to buy a loader for

his mulch business.

And he scratches his head; retroactively? Retroactively? You guys don't know what operating businesses are all about if you are talking about retroactively, because that has been the narrative here. The other narrative is that the Senate is not going to do it. Well, with all due respect, after the R&D tax credit debate on this floor when the same argument was used, Senator Barbara Boxer--not someone who I agree with a lot on things--said that maybe we should look at making that permanent.

Senator Dick Durbin from Illinois, a member of the Democrat leadership, opened up the possibility of maybe we should make some of these permanent. Tom and Judy Price would be proud of Mr. Durbin. I don't know if Mr. Durbin has run a business or not, but Mr. Price does with his wife.

Ladies and gentlemen, this should be about common sense. Nobody is pure here. We have all added to the deficit. I would argue that the deficit was much higher when the other side was in control. Those are numbers. Less today, less last year, a lot more than 2009, I think we would all agree, the deficit, yearly deficit, the debt is certainly higher. The MTR will create debt. According to the Joint Tax, my bill will as well.

But this is about job creators, about allowing them to invest, invest to grow their businesses, to hire more employees, the American Dream that my mom and dad came here to believe and live in, ladies and gentlemen. In a House that my daughter--my daughter in sixth grade understands that we have a right as a House to pass a bill and have a position that might be different than the Senate's. God forgive us for having a different position than the Senate. But just because the Senate wants to do

2 years doesn't mean we have to do 2 years.

I don't understand that narrative. Even some of my colleagues say, well, why are we doing this because the Senate doesn't agree? Give me a break, ladies and gentlemen. Let's have a conference committee for once. Wouldn't that be great? That would be grand. And we can fight it out in conference committee just like the Founders told us we should.

Ladies and gentlemen, with respect to tax policy, there has been no Member of the House, the Senate, and the administration that has provided leadership to get to comprehensive tax reform like David Camp. He has been bipartisan, he has been open, and he has provided incredible leadership. But as all of us know in looking at history, one House can't provide leadership. You need an executive at the White House who is going to provide leadership. And, quite frankly, we have had none.

I credit Ron Wyden, the chairman of the Senate, he has got a bill at least. He has got a draft. I might not agree with his draft, but he has a right to have a draft, and the Senate has a right to have a position. And do you know what? Maybe one day we will get there soon, Mr. Neal. I know you are for that. I am for that. But we should have a House position. We should not surrender to the Senate.

But to get comprehensive tax reform done, ladies and gentlemen, we have to have leadership in the White House. We can't do it alone.

I thank Mr. Camp for his service. He has moved the ball on comprehensive tax reform greater than anybody has here since I have been here. But today is not about comprehensive tax reform, unfortunately. It is about providing certainty to small businessowners--our job creators in America. This is what they want. This is what they need. This is what has been proven to be successful to allow them to expand their businesses. And today, if Tom Price buys a loader for $200,000, he has to expense

it over 7 years. His cash flow is killed, and I am not going to go tell him, ``don't worry. Trust me. We will do it in December retroactively.'' I will not do that.

[Time: 11:15]

We need to have a position. We need to do it today. We need to do it right. This is about policy. This shouldn't be about politics. This should be about the House's position.

I urge each and every one of my colleagues to put the politics aside, quite frankly, and support this bill, have the House have a position, and let's challenge the Senate, and let's do it before November, before December. Let's do it now.

I yield back the balance of my time.