Political Quotes

“this bill will bring relief to tens of millions of hard-working American families, including nearly 100,000 in my district alone. It makes the tax code more efficient and more equitable, changes that are sound both morally and economically. Most importantly, H.R. 3996 will be the first tax relief bill of this millennium that did not increase the deficit. This will would lower the tax burden on 95 percent of the people affected by it--which is about as close to perfect as we're able to get with the tax code. I'd like to commend Chairman Rangel and Mr. Neal and their staff for their work on this excellent bill, which I am proud to support today. Mr. Speaker, the President's budget assumes the revenue next year from a vast expansion of the AMT, and the President has offered no alternative to either eliminate the AMT or patch it, likely in recognition of the immense cost to the Treasury. Yet nearly everyone agrees that we must pass some form of AMT relief this year, and that we must do it soon. The Congressional Budget Office and Joint Committee on Taxation have spelled out specifically what the cost of a 1-year AMT patch would be. It cannot be accomplished for free.”