Tax Increase Prevention Act of 2014

Floor Speech

Date: Dec. 3, 2014
Location: Washington, DC
Issues: Taxes

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Mr. STUTZMAN. Mr. Speaker, I rise today in support of the Tax
Increase Prevention Act of 2014.

Mr. Speaker, American workers and businesses are most successful when
they are able to keep, spend, and invest more of their hard-earned
money. Our economy, which has already remained too weak for too long,
simply cannot afford a series of irresponsible tax hikes that will
target individuals, small businesses, and job creators all across the
country. So this legislation will help protect those taxpayers--our
taxpayers--and their pocketbooks and provide them some level of clarity
as they plan for the new year.

Right now, working families and businesses are simply trying to make
ends meet. I know from speaking with families and workers back home in
Indiana that the last thing that they can afford is higher taxes when
they need to be providing for their kids' education, savings, or
growing their business.

In this legislation, Mr. Speaker, I am especially pleased to support
the provisions that would extend the increased section 179 deduction
levels, as well as the extension of bonus depreciation. Countless
farms, small businesses, and manufacturers in the Hoosier State and
across the country use these important tools to make business-building
capital investments. A failure to act on those tax extensions would
only slow an economic recovery that desperately needs to pick up the
pace.

Today, we have an opportunity to stand together as Republicans and
Democrats and pass legislation that will prevent economic harm to
millions of families and businesses across the United States. While
this may not be the intention that we would all like to have, I do
believe that this is the best that we can do for right now to prevent
any sort of further damage to the economy.

I would like to, in closing, thank Chairman Camp and the members of
the Ways and Means Committee for their hard work on this issue, and I
would urge my colleagues to support their efforts.

I would also like to take a brief moment to thank Chairman Camp for
his many years of service as a tireless advocate for the constituents back
in Michigan. I have the opportunity to travel with him to Detroit from
time to time and appreciate his thoughtfulness and his leadership and
his desire to do what is best for America. He is an honorable
colleague, and I have been honored to have had the chance to serve with
him. I wish him the very best in his retirement and know that he will
continue to stay busy one way or another.

Thank you again, Mr. Chairman, for your work on this. I know that you
definitely set the table for further tax reform, which is desperately
needed here in our country, and know that it would be good for our
economy. Thank you for what you have done. This has given folks back
home some clarity and certainty for this year.

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