OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Renewable Energy and Job Creation Act of 2008

Floor Speech

Date: May 21, 2008
Location: Washington, DC
Issues: Energy

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Mr. NEAL of Massachusetts. I thank the gentleman for yielding the time.

Mr. Speaker, this legislation is pro-environment, it's business friendly, and it's paid for.

I don't know how anybody on the other side can mention the words ``alternative minimum tax'' with a straight face. They had sufficient opportunity in the last session of the Congress to vote for a responsible alternative minimum tax repeal. I know. I authored the legislation. They all voted against it.

I want to thank Charlie Rangel today for his hard work. There are a number of business and individual tax incentives that lapsed in January of this year. There was urgency to getting it done, and we did precisely that. In my home State of Massachusetts this means that 94,000 teachers will get a deduction for out-of-pocket expenses for classroom supplies. It means that a thousand businesses in Massachusetts will get some credit for the millions they spend on research here in the United States. Without this bill 121,000 families in Massachusetts cannot take deduction for college tuition expenses.

This bill provides significant and real tax relief to millions of families nationwide and for some very low income families it will provide a new benefit. There are 111,000 children in Massachusetts whose families will get a higher tax credit because of this bill.

There are an additional 32,000 children and families in Massachusetts who are currently shut out of the child tax credit because of the threshold for earnings that must exceed rises each year for inflation. They're simply too poor for the tax credit. This bill lowers the threshold so that these working families can benefit from the child tax credit just like other families.

These are well-crafted positions, and we don't have time to mention them all. But I want to tell you in the 20 years I have been in this House, this is one of the best pieces of legislation that I have been associated with. It provides tax relief, but at the same time it's pro-environment.

I hope that Members of this House on both sides will support this legislation.

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