Conference Report on H.R. 4520, American Jobs Creation Act of 2004

CONFERENCE REPORT ON H.R. 4520, AMERICAN JOBS CREATION ACT OF 2004 -- (House of Representatives - October 07, 2004)

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Mr. BLUMENAUER. Mr. Speaker, H.R. 4520 illustrates what is wrong with how we're operating in the House. In seeking a legislative solution to a relatively minor requirement to correct a problem that made our Tax Code for manufacturers conflict with our international trade obligations, the Republican leadership pushed aside a no-cost, bipartisan solution for a special-interest loaded bill that is much more expensive and complex.

The argument that H.R. 4520 is revenue-neutral is fiction. The actual cost that taxpayers will pay are hidden by delaying the starting date of some provisions and scheduling others to unrealistically end. It is certainly the intention of the sponsors of this bill to fully extend these tax cuts, which will add billions more dollars to years of projected deficits.

To compensate for its deficiencies, this bill was laden with targeted tax provisions that will secure the votes of those who represent various interests ranging from tobacco farmers to race track owners to manufacturers of bows and arrows. This has resulted in a bill with 700 pages of additional Tax-Code complexity, making it more difficult to enforce and creating a compliance nightmare for taxpayers.

This is not the way to craft tax policy. It erodes the confidence of the public, adding to their distrust of the political system and their belief that they are not being fairly treated.