Harry Reid: “Well, we do have an idea. It costs much less money and has a direct impact. We would want a new wage credit, which would…”

“Well, we do have an idea. It costs much less money and has a direct impact. We would want a new wage credit, which would provide $300 for each adult in a family; $300 for the first two children. We want to accelerate the child tax credit to $800 from the current $600. It eliminates the marriage tax penalty. It provides marriage penalty relief for recipients of the earned-income tax credit, which by the way, Ronald Reagan said was the most important tax policy this country has ever had, the earned-income tax rate. What is that? It creates a desire for people to work rather than try to go on, say, welfare, because they can actually make money by working with their hands. Ronald Reagan loved this program, the earned-income tax credit, and we want to make it even more important. We want to have a 50-percent tax credit to help small businesses pay for health insurance premiums. These estimates are not exact, but there are from 21 million to 25 million Americans with no health insurance. There are millions more who are underinsured. Now, this is not going to answer all the problems, but it sure is a step in the right direction.”