Chris Van Hollen: “This is the final amendment to the bill. It will not kill the bill or send it back to committee. If adopted, the bill…”

“This is the final amendment to the bill. It will not kill the bill or send it back to committee. If adopted, the bill will immediately proceed to final passage, as amended. Mr. Speaker, this motion to recommit does two things. First, it ensures that the charities we support, we support in a fiscally responsible manner by extending these incentives for 2 years, rather than permanently in order to, number one, give taxpayers clarity, but also to give this Congress time to work together on tax reform without piling up huge new deficits. Mr. Speaker, just yesterday in the Budget Committee, we had a hearing on the long-term deficits. Our Republican colleagues said they worry about the long-term deficit picture, and yet, in the last 6 weeks, they have added over $500 billion to the deficit, in violation of their own budget, including what we are doing today. So let's do this extension for 2 years and in a fiscally responsible manner. The second thing this motion does is it denies the benefits of this legislation to any corporation that effectively renounces its U.S. citizenship and reincorporates overseas to avoid taxes. These so-called corporate inversions are generating outrage among families and small businesses around the country who can't simply tell the IRS they have moved their residence to some tax haven country because they don't want to pay their taxes. In recent months, we have seen corporation after corporation jumping on this bandwagon.…”