It is also true that last October we passed a ``stimulus'' bill, a bill which repealed the alternative minimum tax for businesses, but made it retroactive to 1986, giving IBM one check for $1.4 billion, GM a check for $850 million, and Enron $250 million. And my colleague wonders why the Senate did not pass his bill? The gentleman poisoned the well with that type of nonsense.
Discussing the impact of a stimulus bill and its retroactive provisions during a floor debate.
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More from Gerald Kleczka
As I looked over the history of this tax, I thought I read that after the Spanish-American War this tax was repealed, and then at the start of World War I it was put back on; repealed after World War I; then it was put back on for World…
No. The point being that it is not 102 years old and around since the Spanish-American War. It was repealed after that war in 1902. So the gentleman is inaccurate on that point.
Let me reclaim my time and ask the gentleman, are all those filings the initial filing upon hiring the employee, or is that the filings an employer would go through after an employee has been with him or her for a period of years?
I would challenge him to tell the House when we passed legislation to reduce the cost of prescription drugs for everybody in this country. There is a discharge petition pending and I challenge him to sign it if he is serious about that…
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