Chuck Grassley: “First, in regard to the marriage penalty relief, it provides for acceleration of the standard deduction of married…”

“First, in regard to the marriage penalty relief, it provides for acceleration of the standard deduction of married couples but doesn't do anything regarding the expansion of the 15-percent individual income tax bracket. And that is a major part of marriage penalty relief. It doesn't help hard-working, middle-class families the way it should. Second, in regard to the child tax credit, this proposal only increases the child tax credit to $700 in 2003 and $800 in 2004. The mark accelerates it to the full $1,000 in 2003. Again, for real relief for working families, the wage credit is a key component of this proposal. This would send $300 checks to anyone, regardless of whether they paid any income tax, and even if they didn't file an income tax return. There is a point of order on this amendment. I raise that point of order: That it increases mandatory spending and, if agreed to, it would cause the underlying bill to exceed the committee's section 302(a) allocation.”