Political Quotes

“let us just consider this $500 child credit here. Our colleagues have characterized this proposal as a middle-class tax cut. The truth is, nothing could be further from the truth. Let us just consider how this credit works. For families with $16,000 in income or less, there is no benefit. Why? Because the credit is not refundable. Thus, working poor families get nothing under this scheme. My friend from Indiana seeks to represent that these families under $16,000 would benefit from the earned income tax credit. You would almost think from listening to him that this is in the Republican alternative. The fact is that the earned income tax credit was in the President's budget proposal last year. That was passed in this Senate without a single Republican voting for it. So, tax relief for families making under $16,000 is not present in this budget, not in this Republican alternative. It was present in the President's budget that was passed last year. As a matter of fact, the President's budget that we passed here last year gave tax relief to families of four earning $28,000 or less. That was the earned income tax credit provision that was passed here without a single Republican vote coming from the other side of the aisle. It is true that even though a family of four making $16,000 a year or less gets no benefit from this alternative that is being proposed here, a family of four making $1 million a year does get the $500 per child tax credit.”