You can’t make this stuff up. Tomorrow, the Ways and Means Committee is holding a hearing to discuss tax extenders. Sounds nice, right? Well, here’s the catch: members can’t actually talk about any tax extenders they want.
From Ways and Means Committee Democrats:
Ways and Means Committee Republicans have rejected any discussion of vital Make It In America tax provisions during Thursday’s Select Revenue Measures Subcommittee hearing on tax extenders, shutting the door on proven initiatives that promote job creation, investment and economic growth. Among some 73 provisions that Republicans have refused to discuss:
Build America Bonds – Build America Bonds, which expired at the end of 2010, spur job creation and unleash private-sector investments by helping state and local governments finance infrastructure projects – building schools, hospitals, transit systems, and water systems. Over $180 billion in bonds were issued to state and local governments over the lifetime of the program in 2009 and 2010, with state and local governments reaping $20 billion in savings as a result. A state-by-state guide to Build America Bonds financing in 2009 and 2010 shows the breadth of this important program.
Advanced Manufacturing Credit – Also known as the Sec. 48c Manufacturing Credit, this provision provided a tax credit equal to 30% of qualified investments in domestic manufacturing capacity for a variety of green energy products (wind turbines, solar panels, advanced batteries, etc.). This highly successful credit was oversubscribed and supported $7 billion in investment. The President has repeatedly called on Congress to provide an additional $5 billion in credits.
So, while Republicans want to keep giving tax cuts to the wealthy at the expense of seniors, the middle class, and the most vulnerable, they won’t even allow a discussion on tax provisions that will create jobs and keep America competitive. #Priorities.