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Tax Relief, Uemployment Insurance Reauthorization, and Job Creation Act of 2010

Floor Speech

Location: Washington, DC


Mr. LANCE. Thank you very much.

Mr. Chairman, I rise in support of the underlying bill that ensures that taxes will rise on no one in America on New Year's Day, 15 days from now. What a terrible New Year's present that would be to the American people.

This bill creates greater certainty in the business community so that businesses across America can create the jobs this country so desperately needs, especially given our current 9.8 unemployment rate. New jobs will lower our annual deficits. Almost 85 percent of this bill provides tax relief, including preventing the job-killing tax hikes; enacting the AMT patch--extremely important to the district I serve and to New Jersey as a whole; and reducing the Federal estate tax from the scheduled 55 percent rate on January 1 down to 35 percent--also extremely important to New Jersey where residential real estate is so expensive.

This bill has been endorsed by leading conservatives, including our new reform Governor in New Jersey, Chris Christie. It will give us time in the new Congress to enact fundamental reform, including deficit reduction, a permanent extension of existing tax rates, and the elimination of the Federal estate tax.


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