Chuck Schumer: “I will oppose this conference report out of strength of conviction. There are some good things in it. I think the child…”

“I will oppose this conference report out of strength of conviction. There are some good things in it. I think the child tax credit is good. I think tax relief, particularly for middle-class people, is good. I am particularly proud of the tuition deductibility. While I have wished it would go further, there is $5,000 of tuition relief, tuition deductibility. It is aimed at middle-class families. For far too long we have ignored middle-class families, not only in tax relief but in the biggest financial nut they face--if God gives them good health--and that is paying for tuition for the kids. To have that in there is really important. I salute the leaders of the bill. I will vote against it but with a little bit of sadness because that provision is in the bill, something for which I have worked long and hard. I am opposing this bill for five reasons. First, it is filled with gimmicks. This is not tax policy--put a provision in, sunset it; put another provision in, sunset it. The most laughable provision is the estate tax.”