Political Quotes

“Mr. Speaker, Congress established Alaska Native Settlement Trusts in 1988 to provide permanent health, education, and welfare benefits to Alaska Natives, who are among the most economically disadvantaged populations in the United States. Unfortunately, Mr. Speaker, the Tax Code has, in many cases, impeded the creation and funding of Alaska Native Settlement Trusts. As a result, Alaska Native Settlement Trusts have not been able to function in the manner Congress originally intended to provide benefits for Alaska Natives. To remedy some of these tax issues, I have sponsored H.R. 3524, which permits an Alaska Native corporation to deduct contributions to their settlement trust. The provisions of H.R. 3524 were not included in H.R. 1, and the tax bill also adversely increases Alaska Native Settlement Trust tax rates from 10 percent to 12 percent. This would make it more difficult for Alaska Native Settlement Trusts to provide long-term benefits to Alaska Natives. Mr. Speaker, I request that the provisions of H.R. 3524 be included in the final conference report that results from the conference committee.”