Langevin Statement on Tax Extender Package

Dec 17, 2015 Issues: Budget, Small Business, Vote

Congressman Jim Langevin (D-RI) issued the following statement in response to the Protecting Americans from Tax Hikes (PATH) Act of 2015, which was approved today by the House by a vote of 318-109:

“I supported today’s tax extenders package with serious reservations. I am deeply dismayed that my Republican colleagues have once again failed to adhere to their oft-stated desire for deficit reduction and fiscal responsibility by crafting a package of tax cuts that are completely unpaid for. I also fear that passing this measure outside the context of comprehensive tax reform will ultimately make our efforts to reach a future bipartisan compromise much more difficult. However, I ultimately believe this proposal contains important provisions that will support working families and invest in our economic future as a nation.

“For small businesses, this package restores certainty, particularly by making permanent enhanced capital expensing under Section 179, which allows them to invest in the future of their companies and implement a plan for creating jobs. It also permanently authorizes the research and development tax credit that propels innovation and economic growth. And for millions of Americans, I am very pleased to see the inclusion of provisions that we know will keep more money in the pockets of working families, including expanded versions of the Earned Income Tax Credit and child tax credit, as well as the Work Opportunity Tax Credit. This proposal extends important tax provisions that allow families to provide for their children, empower Americans to pursue higher education, and support teachers who give so much to their students and classrooms.”