Judd Gregg: “The essence of this motion is that the $916 billion tax increase, the largest tax increase in history, which is in the…”

“The essence of this motion is that the $916 billion tax increase, the largest tax increase in history, which is in the House budget, be rejected; that the $700-plus billion tax increase in the Senate budget--again, that would be the largest tax increase in history were the House not outbidding us--be rejected; and that instead we extend a series of tax breaks which are already in place and which are very beneficial to the American people, including the $1,000 child credit, the marriage penalty relief, the 10-percent income tax bracket, the lower marginal rates for American families and small businesses, the earned-income tax credit for military families, the adoption tax credit, the dependent care tax credit, the college tuition deduction, the deduction for student loan interest, a $2,000 Coverdell education IRA, the 15-percent rate on capital gains and dividends, and essentially the Kyl death tax proposal.”