Ben Cardin: “it is really a sad moment that we are considering this bill, another tax bill, another week. We are really not serious…”

“it is really a sad moment that we are considering this bill, another tax bill, another week. We are really not serious about trying to help American taxpayers or trying to get a budget that makes some sense, that is balanced, that does not mortgage our future, that does not require us to ask our children and grandchildren to pay for what we are doing today. Mr. Speaker, I would have a little more sympathy for this bill if it was an extension of the current child credit bill that many of us have supported. We think the child credit law makes some sense. But this bill does more than that. I think it is important to point out that this bill would increase the income limits of those who qualify for the child credit. That is an additional tax cut that is being placed in this bill that affects people whose incomes are over $100,000-some. I mention that because every dollar of tax relief that this bill provides is going to have to be borrowed. We are going to have to pay interest on it. It is going to encumber our decisions in the future, whether to protect our Nation in national defense, homeland security, or to adequately fund our schools. I think it is immoral for us to create debt today in order to give a tax cut and then ask future generations to pay for those tax cuts.”