Tom Carper: “Mr. President, this bipartisan alternative reduces taxes by $1.2 trillion over the next 10 years while making available…”

“Mr. President, this bipartisan alternative reduces taxes by $1.2 trillion over the next 10 years while making available $150 billion for underfunded education proposals that work. Our measure provides for modest reductions in each of the marginal tax rates while establishing retroactively a new 10-percent bracket. This amendment provides for estate tax relief but not for its elimination. We double the child credit and make it partially refundable. Unlike the committee bill, our proposal makes permanent the R&D credit. We extend popular expiring tax breaks and speed up marriage penalty relief. We provide greater AMT protection and fund a number of energy production and conservation incentives now, not later.”