Jon L. Christensen: “I rise in support of H.R. 4388, legislation which amends the Internal Revenue code of 1986 to extend certain expiring…”

“I rise in support of H.R. 4388, legislation which amends the Internal Revenue code of 1986 to extend certain expiring provisions. I want to express my profound gratitude to the Chairman of the Ways and Means Committee, Bill Thomas, for including in the bill a provision to extend the cover-over of the additional $1.50 of the taxes on distilled spirits produced in the Virgin Islands and Puerto Rico for another year. While the amount of the revenue generated by this tax is minuscule in relation to the overall federal budget, it is critically important to my constituents because the government of the Virgin Islands utilizes this funding as security for the bonds that are used to provide for improvements to our public infrastructure. I am eternally grateful, as well, to my good friend, the Ranking Member of the committee, Charlie Rangel, for his steadfast support. Mr. Speaker, my constituents and I look forward to the day, which we hope will not be too long in coming, when we will be able to see the return of the full tax and that it be made permanent, as was originally the case, so that we won't have to annually vie for its extension. I urge my colleagues to support the passage of H.R. 4388 and I yield back the balance of my time.”