congressional_record: CREC-2006-12-27-pt1-PgE2242-3
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| granule_id | date | congress | session | volume | issue | title | chamber | granule_class | sub_granule_class | page_start | page_end | speakers | bills | citation | full_text |
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| CREC-2006-12-27-pt1-PgE2242-3 | 2006-12-27 | 109 | 2 | TAX RELIEF AND HEALTH CARE ACT OF 2006 | HOUSE | EXTENSIONS | ALLOTHER | E2242 | E2243 | [{"name": "Dave Camp", "role": "speaking"}] | [{"congress": "109", "type": "HR", "number": "6111"}] | 152 Cong. Rec. E2242 | Congressional Record, Volume 152 Issue 136 (Wednesday, December 27, 2006) [Congressional Record Volume 152, Number 136 (Wednesday, December 27, 2006)] [Extensions of Remarks] [Pages E2242-E2243] From the Congressional Record Online through the Government Publishing Office [www.gpo.gov] TAX RELIEF AND HEALTH CARE ACT OF 2006 ______ speech of HON. DAVE CAMP of michigan in the house of representatives Friday, December 8, 2006 Mr. CAMP of Michigan. Mr. Speaker, I am pleased that the House of Representatives has overwhelmingly approved legislation that extends meaningful tax relief to American manufacturers, families, students, and teachers. As the 109th Congress closes, and an era of Republican control ends, it is fitting that one of the last bills considered provides Americans with the opportunity to keep more of their hard- earned money. H.R. 6111 does much more than lower taxes--it will help America keep its competitive edge. For example, H.R. 6111 includes incentives for companies to engage in research and development work, allows students to deduct their college tuition costs, and encourages the use of solar, wind, landfill gas, and other clean energy technologies. Importantly too, this legislation extends tax benefits for individuals and families to use for their health care needs through the use of health savings accounts. In my view, one of the highlights of the Tax Relief and Health Care Act is the 2-year extension and enhancement of the research and development tax credit. As one of the leading advocates in the House of Representatives for the R&D tax credit, I am particularly pleased that companies will be able to use a new, Alternative Simplified Credit. The ASC will enable more companies to utilize the credit. As foreign-based R&D spending has grown faster than U.S.-based R&D spending, it is imperative that the U.S. offer American companies tax incentives for high-risk, long-term research projects. Extension and enhancement of the R&D credit is vitally important for companies doing business in my home state of Michigan. Michigan ranks as one of the top 10 states in reported R&D activity with more than 1,300 companies performing research and development in the state. Another tax item of significance in H.R. 6111 provides teachers with a $250 tax deduction for the purchase of classroom supplies, equipment, and other related school materials. I have long sponsored legislation that provides tax relief to teachers. America's K-12 teachers spend literally thousands of their own dollars on classroom supplies. The average educator spends $1,180 on non-reimbursed [[Page E2243]] expenses such as books, lesson materials, math flash cards, crayons, and countless other items that help children learn. H.R. 6111 provides teachers with tax relief that will help defray the significant out-of- pocket cost of educational items for their students and classrooms. Regarding clean energy, this legislation will extend tax credits for renewable electricity production from sources such as wind, biomass, and landfill gas. It will also extend incentives for commercial and residential use of solar power. Greater tax credits and deductions will help lessen the higher costs typically associated with these types of clean energy. These incentives will also help expand consumer acceptance of renewable energy. And, without consumer demand, businesses are reluctant to develop the technologies to harness these energy sources. H.R. 6111 will extend current tax policies that will foster the development and use of clean energy. I appreciate Chairman Thomas' hard work in bringing this legislation to the floor. His skill and dedication to putting together good tax policy will be missed. It has been an honor serving with him on the House Ways and Means Committee. Mr. Speaker, I am proud to vote in favor of H.R. 6111 and am confident that these incentives will help more Americans keep more of what they earn while further stimulating our already robust national economy. ____________________ |