Tax Increase Prevention Act of 2014

Floor Speech

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Mr. DANNY K. DAVIS of Illinois. Mr. Speaker, this 1-year retroactive extension is not ideal. It is not the best that we should or could do. It does little to provide certainty to individuals and businesses for 2015. My constituent, Mary Joe, still will not know whether she can give money from her IRA to a Chicago charity without tax liability in 2015, nor does my constituent, Henry, know if he can receive enhanced tax benefits for donating food to the Chicago Food Depository.

Further, I am deeply disappointed that this bill fails to extend the Trade Adjustment Assistance for health care workers laid off through no fault of their own. However, I believe that this bill may be our only option for this year to provide these tax benefits for 2014 and to ensure the taxpayers can begin filing their taxes and receiving their refunds early next year. There are many provisions included that are critical to Chicago and Illinois, and that must be covered in 2014.

This is not the best bill, but it is a necessary bill. I look forward to working in a bipartisan way to ensure comprehensive permanent reforms to the Tax Code that help all Americans, including provisions that help the lowest income workers, such as the earned income tax credit and enhanced child tax credit.

I end, Mr. Speaker, by commending Chairman Camp.

Mr. Camp, I commend you on your efforts to bring comprehensive tax reform to the forefront, and I wish you well as you finish out a very distinguished career in the people's House. Sir, I salute you.

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