Political Quotes

“Mr. Speaker, as was indicated earlier in the debate, or the colloquy, between the majority leader and the minority whip, this House on June 12 passed a tax relief measure which provided for the extension of the child tax credit. Let us look at the current law and see what we would be extending if that particular measure were to pass the other body and go on to the President for his signature. Who is getting that child tax credit under current law: any family that pays income tax as long as their income does not exceed certain levels, and even families who do not pay income taxes receive the child tax credit so long as they earn at least $10,500. These families receive a check from the government equal to 10 percent of their income over $10,500. Military families serving overseas also get the child tax credit subject to the same rules. So-called wealthy families do not get the child tax credit. The child credit is reduced and eventually eliminated for single parents with incomes over $75,000 and for married couples with incomes over $110,000. Mr. Speaker, this House has acted, and on June 12 of this year passed a bill which calls for the extension of the child tax credit through 2010.”