Doris Matsui: “today I rise to protest what I consider to be one of the most egregious examples of the reckless fiscal policies that…”

“today I rise to protest what I consider to be one of the most egregious examples of the reckless fiscal policies that are being pursued relentlessly by those on the other side of the aisle. Today, the majority has decided to distort the child tax credit--a policy intended to help lower- and middle-income families support their children--and twist it into yet another tax break for the rich. Mr. Speaker, I favor making the existing $1,000 tax credit permanent, and I favor expanding the credit to cover more low-income families. However, I cannot support a policy that would provide a tax credit for families that make more than $300,000, while denying a credit to those with the lowest incomes. The bill that the majority has proposed today would greatly expand the tax credit for families with incomes between $100,000 and $300,000, but would not allow a low-income family where a parent works full-time, year-round at the minimum wage to receive the credit! The tax credit would remain unavailable to families with incomes below $10,500. Approximately 8 million children are in families with incomes below this amount! Mr. Speaker, it seems to me that those families with incomes below $10,500 are having a much harder time affording the costs of raising a child than are families with incomes of $300,000, and yet this bill does nothing to help them.”