Jerry Lewis: “I rise today to voice my opposition to House Concurrent Resolution 218 (H. Con. Res. 218) and strong support for two…”

“I rise today to voice my opposition to House Concurrent Resolution 218 (H. Con. Res. 218) and strong support for two amendments--the Kasich/Republican budget initiative amendment and the Solomon-Fawell-Upton amendment. The Republican budget provides lower spending, lower taxes, and lower deficits than proposed in the Democrat budget. The Republican budget also tackles major initiatives in its 5 year spending outline. I would like to take a few moments to outline several of these initiatives. First, the Republican budget includes a family tax credit. This tax credit provides a $500 per-child tax credit to families earning less than $200,000 a year. Residents in my district will be the beneficiaries of nearly $60 million in tax relief through this tax credit. Second, the Republican plan creates jobs and provides economic growth by changes in the tax code. These changes include--indexation of capital gains, fully deductible IRA accounts, deduction for capital losses on the sale of a primary residence, immediate expensing of business equipment, and an extension of the research and development tax credit. Third, this budget reduces the deficit by almost $152 billion more than the Democrat budget proposal. Fourth, the Republican budget also incorporates a bold welfare reform proposal which stresses work instead of welfare.”