Angie Craig: “I am pleased to see the tax reconciliation conference report before the Senate today. I commend the conferees' hard work…”

“I am pleased to see the tax reconciliation conference report before the Senate today. I commend the conferees' hard work and perseverance in reaching a compromise on this bill. I know it was no easy task. Americans have been asking for tax relief, and now is the time that we give it to them. Lower taxes on capital gains and dividends--and higher alternative minimum tax exemption amounts--will assist America's small businesses, encourage the kind of investment that creates jobs and makes our economy grow, and ensure fairer tax treatment for middle- income families who would otherwise be left footing the bill for a tax intended for the wealthy. These policies have a proven record of success. Since Republican pro- growth tax policies were enacted in 2003, the economy has grown at an unprecedented rate, over 5.3 million jobs have been created, tax revenues are surging, and household wealth is at an all time high. We must extend, not end, this trend and the conference report we have before us, in part, does that. When the original tax reconciliation bill came before the Senate, I voted against it. I did so because it contained a windfall profits tax provision which would have imposed an additional $4.923 billion tax on the energy industry alone. I voted ``no'' because the bill that was supposed to provide tax relief actually raised taxes. I was pleased to see and commend the conferees for stripping the windfall profits tax provision out of the bill.…”