David Weldon: “I rise to address the body regarding the very, very critical issue of repealing the sunset provision of the inheritance…”

“I rise to address the body regarding the very, very critical issue of repealing the sunset provision of the inheritance tax repeal. As many Americans know, last year we passed a very, very important tax bill. It reduced taxes on working families, it reduced marginal tax rates, it increased the child tax credit, and it had many, many, very, very good provisions. Indeed, I have been hearing from constituents, particularly parents, in my congressional district about how the tax reductions, even though they are phased in and, for example, the child tax credit only went from $500 to $600 in the first year, are helping. They tell me, particularly parents, where one spouse works, typically the father, and the mother is home with small children, struggling with the burden of trying to raise a family, that these tax reductions are really helping them make ends meet. Naturally, of course, with the Nation in a recession, these tax reductions have been very helpful in blunting the severity of the recession. Many economists claim that if our tax reductions had not gone into place, this recession would have been much, much worse.”