Political Quotes

“I have an offset that is pretty straightforward. We have two major refundable tax credits in our Tax Code, the earned income tax credit and the additional child tax credit, both of which, when you claim them, you actually get money back under the Tax Code. My amendment is pretty straightforward. When you file for the earned income tax credit, you actually have to put a Social Security number when you file for it as the tax filer. Also, if you have a dependent, you have to put a Social Security number. For the additional child tax credit, there was a Treasury IG report done under this administration in 2011 and it raised real concerns about the way this tax refund was being administered, because when you filed for it, you didn't have to put a Social Security number. Also, for any child for whom you were seeking a refund, you didn't have to put a Social Security number. My fix is very straightforward: All I am asking is, if you want to seek that tax refund for your child, you list a Social Security number for the child. Why is that important? It is important because the Treasury IG found with this tax refund billions and billions of dollars going out the door. In fact, with the amendment I just mentioned, we can save $20 billion over the next 10 years. There were investigations done of this tax refund, and guess what they found.…”