The amendment increases the child tax credit from $600 to $1,000 and makes it retroactive to the beginning of 2002 instead of 2003, as called for in the bill. To offset the cost, the amendment would delay the rate reduction for the 1 percent of taxpayers in the top income tax bracket from this year to 2005. I hope my colleagues will give it close consideration.
Discussing an amendment to increase the child tax credit during a House floor debate.
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What is realistic is to deal with these changes in a way that does expand access, that does expand the opportunity for people to participate in a retirement plan at work.
If we are going to provide tax incentives for people to have retirement savings, then it should not be used as a piggy bank to pay for other things.
We tried to include some of these ideas in our Social Security reform package, to actually provide incentives in the system for people to continue to work.
Organize and educate I think are the two keys to getting anything big through Congress.
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