Child Credit Preservation and Expansion Act of 2004

CHILD CREDIT PRESERVATION AND EXPANSION ACT OF 2004 -- (House of Representatives - May 20, 2004)

Mr. CAMP. Mr. Speaker, pursuant to House Resolution 644, I call up the bill (H.R. 4359) to amend the Internal Revenue Code of 1986 to increase the child tax credit, and ask for its immediate consideration.

BREAK IN TRANSCRIPT

Mr. BROWN of South Carolina. Mr. Speaker, I am so proud that this is the fourth straight week that this House is bringing important tax relief legislation to the floor.

The Child Tax Credit Preservation and Expansion Act of 2004 is another step in the right direction to improve the Tax Code for the benefit of hard-working American families. By making the $1,000 child tax credit permanent, we are sending the right message that we want to help out all taxpayers with the burden of providing for their families and ensuring that they maintain their quality of life.

Last year, the President signed the Jobs and Growth Tax Act into law. Our ailing economy needed bold and decisive action, and this plan was precisely what we needed to make a difference for this Nation. Since the law went into effect last June, the economy has expanded at an average quarterly rate of some 5.5 percent, and we are continuing to see positive signs from the job market.

We all know that families are very busy in today's society with both parents often working to take care of their families, paying for daycare, making mortgage payments in an historically high housing market and trying to make ends meet. This bill, along with all of the other tax cuts that we have provided, will help keep families strong. With traditional marriage and families under attack from so many different sources, including the courts, the entertainment industry and the media, our tax system should not feed them any further.

H.R. 4359 makes sure that the child tax credit does not drop from $1,000 per child to $700 next year, and to $500 by the year 2011. In other words, if this bill is not passed, taxes will increase on children by $300 next year and by $500 per child after 2010. How can we penalize so many American families across this Nation for having children? Shame on every Member of this House if we allow this to happen.

I want to thank my colleague, the gentleman from Nevada (Mr. Porter), for introducing this legislation, and the gentleman from California (Chairman Thomas) and the Republican leadership for making sure that we do everything in our power to reduce the tax burden on American families.

Mr. Speaker, I urge all of my colleagues to support H.R. 4359 and to continue to fight for hard-working American taxpayers.