Hoyer: Republicans’ Child Tax Credit Bill Will Add Billions to the Deficit, Make Low-Income Children Less Secure

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Transcript: 

“It’s always interesting to hear the debate. I wonder if the Gentlelady [Rep. Lynn Jenkins] believes the analogy she made in terms of cost of living applies to the minimum wage as well. If she does, I would ask her to urge her leadership to bring the minimum wage bill to the Floor.

“Mr. Speaker, I rise in opposition to this bill, which takes from those who have little in order to give to those who have more. For many working families, the child tax credit helps parents keep their children and themselves out of poverty. It is a program that Ronald Reagan liked. It's a program that works. And it's program we ought to reform and expand.

“Sadly, this Republican bill would allow provisions that most directly support low-income working parents to expire while expanding the credit to families making up to three times what an average household brings home. How perverse, how predictable. It will do so by adding $115 billion to our deficit.  In a time of economic recovery, Mr. Speaker, we should be doing the opposite: providing a leg up for struggling families while paying for what we buy.

“Members on both sides of the aisle agree that the right way to do this is comprehensive tax reform. The Chairman of the Ways and Means Committee, Mr. Camp – again, I commend him for putting on the table a comprehensive tax reform bill. He showed courage and good sense. That was done just a few months ago, and it shows the difficult choices that are necessary. This bill makes no choices. It just borrows more and puts us more in debt while hurting families.

“I don't agree with all of what was in Mr. Camp's bill, but it was a starting point that, through a bipartisan process of amendment, could provide a path to where we all know we need to go. This bill shirks that responsibility and adds $115 billion to the deficit and will make the children of low-income working parents less economically secure. How sad. Reject this bill. Vote no.”