On the recordAugust 1, 2012
I object. The SPEAKER pro tempore. Objection is heard. The Clerk will read. The Clerk continued to read. Mr. DeFAZIO (during the reading). I ask unanimous consent that further reading be suspended. The SPEAKER pro tempore. Is there objection? Without objection, the reading is dispensed with. There was no objection. The SPEAKER pro tempore. Under the rule, the gentleman from Oregon is recognized for 5 minutes in support of his motion. Mr. DeFAZIO. This is the final amendment to the bill. It won't kill the bill or send it back to committee. If adopted, the bill will be immediately amended and will proceed to final passage. It's a pretty simple amendment. It would create a tax break for the real job creators in America, which are small businesses and middle- income families. A middle-income person with a job or a small business and enough money to go out and invest and buy products made in America for his business--that's a key component of this--would be allowed an expensing. The Republican version of the bill would limit the expensing to small businesses to $100,000 a year for the purchases of new equipment made in America. If this amendment is adopted, those same small businesses would be allowed to expense up to $1 million to purchase products made in America, which would put people back to work.…
