On the recordJuly 25, 2014
One goal of tax policy is to strengthen the economy so that there are more jobs and bigger paychecks for American families. Today, we have an opportunity to put more money in the pockets of hardworking families. This commonsense bill reforms the child tax credit so that it can keep up with the rising cost of living, and eliminates the current marriage tax penalty. I have a letter of support that says it best, and I quote: Representative Jenkins' bill indexes the credit and income limits for inflation. Inflation erodes the value and purchasing power of the U.S. dollar and, as a result, a dollar is worth less today than it was years ago. This important piece of legislation adjusts the credit for inflation to ensure that the value of the credit continues to maintain its value. We know that family and marriage is beneficial to society, and the Federal Government ought to promote economic policies that allow families to thrive. This tax credit recognizes the important contribution of the family and children to our country and starts to address a problem with our Tax Code today, the marriage penalty. A fair system of taxation does not penalize marriage and family. With that, I would ask the body to vote ``yes'' on H.R. 4935, the Child Tax Credit Improvement Act of 2014, to honor families with children. Mr. Speaker, I yield back the balance of my time.
