Kim Reynolds: “This bill provides nearly $200 million in assistance for our military. This bill has 23 annual extenders for tax…”

“This bill provides nearly $200 million in assistance for our military. This bill has 23 annual extenders for tax provisions that we have worked on in the past. It is going to address child tax credit that we have passed overwhelmingly in this House in a bipartisan provision. It is going to address the marriage penalty, which this House has, again, done in overwhelming provisions in past votes. We have a 10 percent bracket, which is there. Without passage of the legislation, the bracket would start to fade until it is totally removed from the Tax Code, and that would affect 73 million families who will be paying higher income taxes next year. Over the next 10 years, these families will pay out a total of $2,400 more in taxes. That is a bill that this House has passed in previous times. When we look at the AMT relief which was created more than 30 years ago as a way to prevent high income taxpayers from avoiding income tax payments, something happened, and the failure to index AMT for inflation has resulted in millions of Americans paying for this onerous double tax.”