OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

American Research and Competitiveness Act of 2014

Floor Speech

Date: May 8, 2014
Location: Washington, DC
Issues: Science

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Mr. HOYER. Mr. Speaker, I rise with a great deal of sadness. We are punting. USA Today said, ``House action on tax extenders forfeits credibility on deficits and national debt.'' They are right.

The distinguished chairman of the Ways and Means Committee, who is my friend, offered a real bill on tax reform. The problem with that real bill was it had tough choices to make. Congratulations to the gentleman from Michigan (Mr. Camp) for having the courage to suggest those tough choices.

This vote today requires absolutely no courage at all. It gives the ice cream and says forget about the spinach. It is the reason that we have trillions of dollars in debt today on our national debt, because we didn't pay for the '01 or '03 tax cuts.

Now, Mr. Camp will tell me that I voted for R&D tax cuts six times that were temporary, that were annual, that were not a permanent change in the base. That is what the Republicans want to do. That is what they did in '01 and '03, and that is all inside jargon. And yes, they didn't waive statutory PAYGO, which we passed, which USA Today says was one of the reasons we got to balance 4 years in a row. That is why.

The SPEAKER pro tempore. The time of the gentleman has expired.

Mr. LEVIN. I yield the gentleman from Maryland an additional 1 minute.Unknown

Mr. HOYER. Mr. Speaker, I have 3 minutes to discuss with the American public why their country is going to be put deeper into debt by passing this legislation.

It would be good legislation if it were paid for. It was good legislation when it was included in Mr. Camp's overall tax reform bill. But it is very bad policy and very bad legislation in this unpaid-for, discreet form. And, by the way, there is about another $160 billion of debt to follow.

What a sad day for America. What a sad day for this House. What a sad day for the Ways and Means Committee. What a sad day for fiscal responsibility.

Mr. Speaker, I urge my colleagues not to vote for the temporary political benefit of saying you gave somebody a tax cut, but vote for fiscal responsibility. Vote to keep on a path of a big deal to solve the fiscal challenges that confront our country. I urge my colleagues to vote ``no.''

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