Political Quotes

“I rise in opposition to H.R. 5297. Madam Speaker, we have heard a lot today about the centerpiece of this bill--the highly controversial $30 billion small business lending fund, a provision sometimes referred to as TARP III. That provision is certainly of major concern to me, and it is reason enough to vote against this bill, though I want to focus my remarks on aspects of the bill that are within the Ways and Means Committee's jurisdiction. This legislation includes approximately $12 billion in small business tax provisions, including a number of items that Republicans have long supported. For example, there is widespread, bipartisan support for expanded business expensing and for the extension of bonus depreciation as ways to encourage additional capital investments. In addition, this bill includes a provision originally authored by our colleague from Texas (Mr. Sam Johnson) that would eliminate the outdated requirement that employees keep extensive records documenting their personal use of their employer-provided cell phones so they can include the value of that benefit in their incomes. It also includes a provision that I have been working on with Chairman Lewis of the Oversight Subcommittee that would reduce penalties on small businesses that unintentionally violate certain disclosure rules under section 6707(a) of the Tax Code. Republicans don't object to these provisions. In fact, we think they should have been enacted months ago.…”