On the recordMay 13, 2014
this morning the Senate begins consideration of a tax cut bill. The Finance Committee agreed to call it the EXPIRE Act, and I am going to take a few minutes to talk about why it is so important that this bill be passed--and passed now. Here are a few of the key reasons: First, if the Senate doesn't act, veterans who are now packing job fairs across this country are going to face an even tougher struggle to get good jobs. Second, because the jobs most essential to our economy--the good- paying, innovation-driven jobs needed to underpin a growing middle class--will be harder to create. Third, because just when underwater homeowners get hold of a life raft that keeps them in their homes, a big tax hike could yank it away. Fourth, because millions of students are already up to their eyeballs in debt, and without this they will go even deeper. In addition, producing clean energy will grow more expensive, risking the high-tech jobs every Member of Congress wants to protect. The EXPIRE Act addresses all of these issues and more. The second question that I think is going to be relevant to this debate is, What are the implications for the cycle of stop-and-go policies that have made the Tax Code in this country so unnecessarily complicated and uncertain? The EXPIRE Act ends that and builds a bridge to comprehensive tax reform. Many of these stop-and-go incentives are good policy, and they ought to be extended permanently.…





