Sylvester Turner: “I support H.R. 4297, the Tax Relief Extension Reconciliation Act, which provides extensions for incentives for…”

“I support H.R. 4297, the Tax Relief Extension Reconciliation Act, which provides extensions for incentives for brownfields remediation, a vital tool for national economic growth and for our Nation's cities. I want to echo the comments of my colleague, Jerry Weller, and applaud his efforts for supporting the remediation of brownfields. Brownfields are found in every State and in every Congressional District. Estimates range from 500,000 to 1 million brownfields sites across the Nation, covering roughly 400,000 acres. Private investment is essential for urban growth. The expensing extension is a tool businesses can use to invest in urban redevelopment. In fact, it is estimated that brownfields redevelopment could generate as much as $1.2 billion annually in new tax revenue for American cities. {time} 1245 Brownfields are a major concern to America's cities, and we must provide as many incentives as necessary to clean up these contaminated sites, bring businesses back into our cities, and continue strong economic growth. This extension is an important first step toward redeveloping our Nation's brownfields, but much work is yet to be done. I urge my colleagues to support this important issue and vote in favor of H.R. 4297.”