What a wonderful victory for the American people, the working American family, people who have children, people who have to try to move around this country and find the best job and the best way they can provide for their families. They get to take a $400 tax credit next year. They begin to take the deductions next January on that tax credit per child. My colleagues, they also can start to say, ``If I have to move and I have to sell my house, I do not have to calculate not to carry forward until I am 55 years of age, but I can take that capital gains now.'' What a wonderful opportunity for people to find the best job, the best venue to raise their children. What this really means is that American families can start to make the decisions how they can spend extra dollars in their pocket. That $500 tax credit per child is in their pocket now. They will decide how to spend that instead of some Federal bureaucrat. What does that mean? Well, when we spend our own money, we get to grow the economy, we do not have to decide on some Federal executive or Federal bureaucrat on how they are going to grow government, bigger government, bigger cost, bigger spending. This is a double win for the American family. Is this bill perfect? Oh, I do not think it is perfect. But is it good? Yes, it is a good bill.
Editor's note · Context
Discussing the benefits of a tax credit for American families during a House floor speech.
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