Dan Coats: “I urge Members to look at the money that will flow back to their States as a result of this tax credit. These are funds…”

“I urge Members to look at the money that will flow back to their States as a result of this tax credit. These are funds which will be invested back in the local community. These are funds which will be invested for the needs of children within their State. Let me give a couple examples. In my State of Indiana, $555 million will be left in the State annually rather than being sent to Washington and spent in ways that do not provide relief for the family. So I commend Senator Domenici for his sensitivity to this problem, for including it in this Republican alternative. It is a central feature of this Republican alternative, distinguishing it from the Democratic budget plan. It addresses the very heart of what we need to do to invest and provide relief for families. It significantly strengthens the incentives for savings. It provides incentives for businesses to grow and thereby create jobs that will be available for children coming out of the family, and provides relief that families need in order to make decisions that are in the best interest of their children. I am proud to support this alternative, and I am again thankful that Senator Domenici has been such an effective leader and so instrumental in including the $500 per child tax credit in the Republican budget alternative.”