Permanent Extension of 10-Percent Individual Tax Rate Bracket

PERMANENT EXTENSION OF 10-PERCENT INDIVIDUAL INCOME TAX RATE BRACKET -- (House of Representatives - May 13, 2004)

Mr. SESSIONS. Mr. Speaker, I thank the gentleman for not only ensuring the success of this bill but also properly arguing the merits of the 10-Percent Tax Bracket Permanent Extension bill, H.R. 4275. Today we are on the floor to talk about part of what is a vision that our President has and the Republican Party has for taxpayers in this country. Before the year 2000, from 1986 to 2000, there was a 15 percent tax bracket, the lowest tax bracket for Americans in this country.

President Bush challenged this Congress to do something better, to do better for the middle class in this country and those wage earners in the bottom tax brackets. I believe we responded in kind with the tax cuts that we provided this President that he asked this Congress to do. I think we did the right thing.

The fact of the matter is that under our own rules and regulations of getting bills done, including working with the other body, we could not make this permanent.

We are here today to say to the American public, to say to taxpayers, we need to make this permanent. This is about making the 10 percent tax bracket permanent so that we do not have a tax increase to the 15 percent. The people who will gain and benefit most from this wonderful action will be those people who are brand new, starting up in their lives, perhaps, men and women who have a big dream. Perhaps they have just come to this country. Perhaps they are young people who are starting their families. We need to make sure that we do not overtax them.

That is why the gentleman from Wisconsin is on the floor today. That is why the gentleman from Wisconsin, representing the Committee on Ways and Means and their great chairman, the gentleman from California, are on the floor today, to say we think this message that our President, George W. Bush began, that this Congress has agreed with, that the American people needs, that the Republican Party is here asking for again, is important. It is important that we have permanent extension, that we say we are not going to fight this battle again, that those taxpayers deserve a low tax rate. They need to pay in their fair share, and we believe that fair share should be 10 percent.

I believe in what we are doing. I would ask for all my colleagues to support H.R. 4275.