|House Meets At:||First Vote Predicted:||Last Vote Predicted:|
9:00 a.m.: Legislative Business
Five “One Minutes”
|10:30 – 11:00 a.m.||12:30 – 1:00 p.m.|
H.Res. 670 – Rule providing for consideration of H.R. 4719 – Fighting Hunger Incentive Act of 2014 (Rep. Reed – Ways and Means) (One Hour of Debate). The Rules committee has recommended a closed Rule that provides for one hour of general debate equally divided between the Chair and Ranking Member of the Committee on Ways & Means. The Rule allows one motion to recommit, and waives all points of order against the legislation.
The Rules Committee rejected a motion by Ms. Slaughter of New York to consider the bill under an open Rule. Members are urged to VOTE NO.
H.R. 4719 – Fighting Hunger Incentive Act of 2014 (Rep. Reed – Ways and Means) (One Hour of Debate). This bill is a combination of five Republican bills aimed at both permanently extending and creating new tax provisions related to charitable contributions.
The first bill, H.R. 4719, would permanently extend the charitable deduction for firms that donate food from their inventories.
The second bill, H.R. 2807, would permanently extend the charitable deduction for donations of qualified conservation easements.
The third bill, H.R. 4619, would permanently extend the tax free exclusion from income of charitable contributions from Individual Retirement Accounts (IRA).
The fourth bill, H.R. 4691, would create a new permanent provision that simplifies the excise tax on investment income for private foundations - replacing the current two-tiered structure with a single rate of one percent.
The fifth bill, H.R. 3134, would create a new permanent provision that allows charitable donations made up until the April 15th filing deadline to be deducted from the previous year’s taxes, giving taxpayers the opportunity to reduce tax liability when filling out their tax return.
The Joint Committee on Taxation (JCT) estimates that this package of permanent extenders and new permanent provisions will add $16.2 billion to the deficit over 10 years, and Republicans have chosen to bring the bill to the Floor without providing an offset.
This package of permanent tax cuts comes on the heels of several other tax extenders that Republicans brought to the Floor without offsets, passed the House in the two last months, and would add over $500 billion to the deficit. The combination of this bill and 9 other permanent tax cuts approved by Republicans on the Ways and Means Committee would add over $800 billion to the deficit over the next decade – more than 35 times the amount that it would cost to renew emergency unemployment insurance for the entire year. It is hypocritical of House Republicans - who have let emergency unemployment insurance expire for more than 3 million Americans, refused to provide a permanent fix to the sustainable growth rate (SGR) for Medicare payments to doctors, and failed to replace the irrational, across-the-board spending cuts imposed by the sequester all on arguments over offsets - to bring this bill to the Floor without paying for it.
Democrats support the work of public charities and private foundations, and recognize the vital role that both firms and individuals have in providing them with the resources they need to improve our communities. However, the choice made by House Republicans to address these provisions one by one, while adding their cost to the deficit, represents an irresponsible approach that will only make fixing our broken tax system harder and put further fiscal strain on federal, state, and local programs many of these same charities interact with in their daily missions.
Budget Committee Chairman Paul Ryan has said that, “The people deserve a government that works for them, not one that buries them in more debt.” Unfortunately, bringing permanent, unpaid-for tax cuts to the Floor does exactly the opposite. The White House agrees and has issued a SAP stating that the President would veto this bill. If House Republicans are serious about fiscal responsibility, they should work with Democrats to make the tough decisions necessary to address our broken tax code through comprehensive tax reform, which would address these and other tax extenders in a way that does not add to deficits and does not limit our ability to invest in domestic discretionary priorities. Members are urged to VOTE NO.
Bill Text for H.R. 4719:
Democrat Motion to Instruct Conferees on H.R. 3230 – Veterans’ Access to Care through Choices, Accountability, and Transparency Act of 2014 (Rep. Barber)
Postponed Vote (1 vote):
- Democrat Motion to Instruct Conferees on H.R. 3230 – Veterans’ Access to Care Through Choices, Accountability, and Transparency Act of 2014 (Rep. Gallego)
|The Daily Quote|
“The Export-Import Bank is the subject of the latest battle between business and conservative factions within the House Republican Conference, two sides that take dramatically different views on the bank’s value. But at least 15 Republican governors — including at least one considering a run for president — are siding with business interests in urging Congress to reauthorize the bank. …[A] group of 29 governors, including nine Republicans, urged Congress to reauthorize the bank ahead of a Sept. 30 deadline. Business interests, led by the Chamber of Commerce and the National Association of Manufacturers, also want to extend the Export-Import Bank’s life. The bank provides billions in financing for overseas corporations to buy American goods, which in turn creates hundreds of thousands of jobs in the U.S. In their letter, governors said the bank helped companies in their states… Republican governors Brian Sandoval (Nev.), Susana Martinez (New Mexico), Mary Fallin (Okla.) and Jan Brewer (Ariz.) were among the nine Republicans to sign the group letter. South Carolina Gov. Nikki Haley (R) sent her own letter earlier this month, along with Sens. Lindsey Graham (R-S.C.) and Tim Scott (R-S.C.)… And in June, Texas Gov. Rick Perry (R), considering a second run for the White House, sent his own letter to congressional leaders urging them to extend the life of the bank… ‘The Ex-Im Bank’s services are essential in helping small and medium-sized Texas businesses to thrive,’ Perry wrote. ‘Failure to reauthorize the agency’s operations could place Texas and many U.S. companies at a serious competitive disadvantage in the global marketplace.’”
- Washington Post, 7/17/2014