Bill Barrett: “I rise in support of H.R. 1215. For 92 days Congress has undergone tremendous transformation; from body of delay to one…”

“I rise in support of H.R. 1215. For 92 days Congress has undergone tremendous transformation; from body of delay to one of action. Today we begin the climb for the summit of restoring tax fairness for families, businesses, farmers, and senior citizens; and we do so by making real cuts in spending. I rise to call particular attention to provisions of H.R. 1215 that will help keep the family farm and the family business ``in the family'' by raising the estate tax credit from $600,000 to $750,000 and adjusting it annually for inflation. Roughly half of the Nation's 2 million farmers are age 55 or older, and as the next generation of producers begin to take their place, these provisions will be instrumental in the all important effort of retaining the institution of family farming. The estate tax provisions are but one of many good provisions of this sweeping package of tax cuts and spending reductions. I will support H.R. 1215 on final passage; it's far too important we move this last item in our contract forward. It is unfortunate, however, that we won't have the opportunity to make H.R. 1215 that much better. Yes, I was 1 of the 100 or so Republicans that signed that letter. And I rise today to say that I am concerned about the provisions of this bill applying the $500 per child tax credit to those earning up to $200,000 annually. I commend my colleagues who had the courage and energy to take the lead on this issue. We did promise the American people a tax cut.…”