Consolidated Appropriations Act, 2016
Floor Speech
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Mr. WYDEN. Madam President, pursuant to section 904 of the Congressional Budget Act of 1974 and the waiver provisions of applicable budget resi dont know what the setup is up there
but im sure we can just camp away from the big main groupolutions, I move to waive all applicable sections of that act and applicable budget resolutions for purposes of the House message to accompany H.R.
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Mr. WYDEN. Madam President, colleagues, this bipartisan package is the biggest tax cut for working families and the biggest anti-poverty plan Congress has moved forward in decades, and it is the biggest bipartisan tax agreement in 15 years.
All together, 50 million Americans are going to benefit from the child tax credit and the expanded earned-income tax credit because they are made permanent. And on a permanent basis, students will be able to count on the American opportunity tax credit to cover up to $10,000 of a 4-year college education. That is a lot of money they won't have to borrow.
This also includes a permanent tax break for research and development, which for the first time will be available on a widespread basis to help small businesses and startups pay wages--a booster shot for the innovation economy in America. There will be permanent small business expensing that is going to help our employers invest and grow.
To just wrap up, it will include permanent small business expensing to help many employers invest and grow and create new highways and high-skilled jobs for our people. I believe, finally, this clears the deck for us to move to comprehensive bipartisan tax reform because it provides the breathing room Congress needs to throw the broken Tax Code into the trash can and get bipartisan tax reform.
So I urge my colleagues to waive the budget point of order, give millions of families across this country the predictability and certainty they need on their taxes, and put this Congress on a path toward achieving bipartisan comprehensive tax reform in the days ahead.
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