John Kerry: “this amendment does not raise taxes. It does not require a new offset. What it does is provide for our combat troops who…”

“this amendment does not raise taxes. It does not require a new offset. What it does is provide for our combat troops who currently have the ability to take combat pay and make it count against the earned income tax credit. Believe it or not, there are troops who need that and use that. It expires at the end of this year. What this amendment does is continue it into 2007 through the end of 2007. Secondly, it does something else. It provides a more rapid relief of the marriage penalty which is now charged to people who get the earned income tax credit. Now, this was already passed under the 2001 tax legislation but will not go into effect until 2008. This is paid for by an offset we have already passed, and there is sufficient money in that offset to accelerate the marriage penalty reduction so that we reward parents with kids who work and we take away the marriage penalty and help our troops at the same time. I hope my colleagues will support it. The PRESIDING OFFICER. The Senator's time has expired. The Senator from Iowa.”