Tax Relief And Health Care Act of 2006
TAX RELIEF AND HEALTH CARE ACT OF 2006 -- (House of Representatives - December 08, 2006)
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Ms. McCOLLUM of Minnesota. Mr. Speaker, I rise to support H.R. 6111 because it is critical that we address the unsustainable cut scheduled for reimbursement to physicians under Medicare. Due to the inequities of the Federal Government's formula, physicians in Minnesota receive some of the lowest payment in the Nation while providing, in my opinion, the best care. I will continue to work to ensure that Congress addresses this problem in the long term and that quality health care is available for Medicare beneficiaries in Minnesota and across the country.
I also strongly support the tax extensions included in this legislation. The Research and Development Tax credit, the college tuition deduction, the State sales taxes exemption, and teacher classroom expenses deduction are widely supported and important to families and businesses in the 4th District. It is unfortunate that the Republican majority has once again failed to craft a durable solution to the Alternative Minimum Tax, which is squeezing middle class families. I look forward to working with incoming-Chairman RANGEL to improve tax fairness for middle class families in the next Congress.
However, I am deeply disappointed the Republican majority chose to insert an unrelated and irresponsible plan to open 8 million acres to oil and gas drilling in the eastern Gulf of Mexico into this otherwise constructive bill. Our country consumes 25 percent of the world's oil supply but controls only 3 percent of known reserves. That means an energy policy focused primarily on domestic fossil fuel production will never deliver energy security for America's working families and small businesses. Instead, the Congress must commit to a comprehensive energy strategy that makes bold investments in homegrown renewable fuels, mass transit, innovative vehicle technology and increased vehicle efficiency.
In addition to these failings, the bill's offshore drilling provisions continue a pattern of giveaways for big oil at taxpayer expense. H.R. 6111 will rob tens of billions of dollars from the Federal Treasury in offshore drilling royalties. Nearly 40 percent of the royalty revenue generated from new leases will go to four States--Texas, Louisiana, Mississippi and Alabama--which will cost the Federal Government an estimated $20 billion over the next two decades. And the bill does nothing to stop the Federal Government from giving oil and gas companies $7 billion in tax breaks for drilling on Federal lands (known as ``royalty relief'')--resources that should be directed to providing tax relief for American families.
I voted for the Markey-Hinchey amendment to H.R. 6111, which would have restored a modicum of fiscal sanity to the offshore drilling aspects of the bill. The amendment would push oil and gas companies to renegotiate their royalty free drilling leases by prohibiting companies holding such leases from gaining access to the eight million acres this bill opens to exploration. Unfortunately the amendment narrowly failed on the House floor.
Despite a clear message in last month's mid-term election for a return to ethical governance, Republican leaders used the popularity of tax credit extensions and the need to restore cuts in Medicare reimbursement to force a reckless offshore drilling plan upon America. Therefore, it is with both regret and resolve that I support the omnibus package included in H.R. 6111.
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