Providing for Consideration of H.R. 4359, Child Credit Prevention and Expansion Act of 2004

PROVIDING FOR CONSIDERATION OF H.R. 4359, CHILD CREDIT PRESERVATION AND EXPANSION ACT OF 2004

Ms. PRYCE of Ohio. Mr. Speaker, by direction of the Committee on Rules, I call up House Resolution 644 and ask for its immediate consideration.

The Clerk read the resolution, as follows:

H. RES. 644

Resolved, That upon the adoption of this resolution it shall be in order to consider in the House the bill (H.R. 4359) to amend the Internal Revenue Code of 1986 to increase the child tax credit. The bill shall be considered as read for amendment. The previous question shall be considered as ordered on the bill to final passage without intervening motion except: (1) one hour of debate on the bill equally divided and controlled by the chairman and ranking minority member of the Committee on Ways and Means; (2) the amendment in the nature of a substitute printed in the report of the Committee on Rules accompanying this resolution, if offered by Representative Rangel of New York or his designee, which shall be in order without intervention of any point of order, shall be considered as read, and shall be separately debatable for one hour equally divided and controlled by the proponent and an opponent; and (3) one motion to recommit with or without instructions.

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Mrs. CAPITO. Mr. Speaker, I rise today as a proud co-sponsor of H.R. 4359. Last year, this House increased the child tax credit by $400 per child. This increase from $600 to $1,000 per child has benefited families across the country.

Under current law, however, the child tax credit is scheduled to decrease to $700 per child in 2005, increase to $800 in 2009, return to $1,000 in 2010, and fall to $500 in 2011.

Mr. Speaker, if parents are to take advantage of this tax credit to purchase new clothes, school supplies, or a new computer for their child, or to invest in their child's future, they need to know that these tax cuts are not here today and gone tomorrow.

This legislation corrects the problem in existing law and makes the $1,000 child tax credit permanent. When the underlying legislation we are considering today becomes law, parents will know from year to year the amount of money they have for their children.

The President's jobs and growth plan has helped to get our economy back on track. Over 500,000 jobs have been created in just the last 2 months. We must continue the tax cuts we passed last year to benefit American families and the American economy.

This bill is another step forward. I urge my colleagues to join me in supporting this rule and in supporting the underlying legislation.