Ron Kind: “I thank the gentlewoman from California for yielding. Mr. Speaker, I rise reluctantly in opposition to this legislation.…”

“I thank the gentlewoman from California for yielding. Mr. Speaker, I rise reluctantly in opposition to this legislation. I say reluctantly because there are some good, decent provisions that are contained in this legislation. The first year expensing for new businesses, the net operating loss and tax credit carry over to new ownership and small businesses. There is a lot of bipartisan support for doing more to support entrepreneurs and the startup of businesses in that early stage capital that this bill, in part, is meant to address. Unfortunately the process is all wrong. Instead of holding hearings, instead of getting feedback, instead of soliciting bipartisan support--and I am confident that if time were in order to build support for this bill, there would be wide bipartisan support--this legislation is being driven for one reason and one reason only: the political calendar. That is a missed opportunity. We ought to get back to doing our business on the Ways and Means Committee and start holding hearings, start getting feedback, and doing it in a fiscally responsible manner. This bill, because of no effort to find an offset, will increase our debt by over $5 billion. Again, it is for some press releases leading to the midterm elections. Who cares what the impact is going to be for our children and grandchildren or on future financial obligations that our Nation shares.…”