'We Have The Opportunity To Lower Taxes For The American People Now': Maggie Hassan Lauds Tax Plan

2 months ago

During remarks on the Senate floor, Sen. Maggie Hassan (D-NH) spoke in support of a new tax package.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Transcript

00:00Thank you very much Chairman Wyden. Madam President, I rise to join my

00:06colleagues in urging members from both parties to come together and pass the

00:12bipartisan Wyden-Smith package to lower taxes for working families and for small

00:17businesses. And I want to add my thanks to my colleague from Colorado for his

00:22remarks because this really is about making sure that our families and small

00:27businesses can get ahead and stay ahead. As you know, earlier this year members

00:33from both parties in the House overwhelmingly passed a bipartisan

00:38package to cut taxes. Like any legislative compromise, it may not have

00:44included everything that people wanted, but it included common-sense provisions

00:50that a majority of Americans agree on. And as my colleague from Colorado and

00:55the chairman have just said, it had provisions that not only a majority of

01:01Americans agree on, but a significant, really large, outsized majority of the

01:06United States House of Representatives agreed on. This bipartisan package to cut

01:11taxes includes provisions that would help keep our economy on the cutting

01:15edge by fully restoring critical research and design R&D deductions,

01:21research and development R&D deductions. This provision would give American

01:26creators and entrepreneurs the resources that they need to out-compete countries

01:31like China and help ensure that our country and our economy is second to

01:36none. I've been working on a bipartisan basis to pass this provision and have

01:40heard from small businesses in New Hampshire about the really tough

01:44financial decisions that they're making now that the full R&D deduction has

01:48expired. Not only would this tax cut package help us build a more innovative

01:54economy, it also helps make our economy work better for everyone through a

01:59bipartisan expansion of the child tax credit. We know that families are still

02:04struggling with the burdens of high costs. Expanding the child tax credit is

02:08a common-sense, practical way to put more money back in the pockets of hard-working

02:14families. And this child tax credit provision would have helped families who

02:19have the most children, the families who because of their higher number of

02:23children have the most costs. There's a reason that a majority of Americans

02:28support these proposals. It's because they're good ideas that will make a

02:32difference in people's lives. But despite what our constituents are telling us in

02:38support of this legislation, despite the good-faith bipartisan discussions that we

02:44have had, and despite the fact that the House was able to come together to

02:48overwhelmingly pass this bill, we still don't have an agreement on how to

02:53advance the bipartisan tax cut package this week. Unfortunately, some of my

02:58colleagues on the other side of the aisle have seemingly allowed partisan

03:02politics to interfere with good-faith efforts to find a path forward. Despite

03:08this setback, I'm going to continue to work across party lines to pass the

03:13provisions of this bipartisan tax cut package. And I urge my colleagues to

03:18reconsider and come together to pass this legislation when it comes to a vote

03:23tomorrow. I understand that for some of my colleagues this bipartisan tax cut

03:28package doesn't have everything that they might want. But we would be ill

03:33advised to miss this window. We have the opportunity to lower taxes for the

03:38American people now. Hard-working families struggling to keep up with high

03:43costs, they aren't asking to expand the child tax credit a couple of years down

03:48the line. They want tax cuts so that they can keep more money in their pockets now.

03:55If we are serious about out-competing China, we can't afford to simply hope

04:01that we pass legislation restoring the R&D tax credit in the future. No, we need

04:06to give American innovators, creators, and entrepreneurs the support that they

04:11need now. For many small businesses, even waiting another year will be too late.

04:19Because ultimately the American people aren't asking for perfect legislation,

04:24nor do they care if an idea is red or blue. They care about results and they

04:31don't want politics to get in the way of a good idea. So I urge my colleagues to

04:37come together and support this bipartisan tax cut package that will

04:41strengthen our economy, support our entrepreneurs, deliver for American

04:46families, and demonstrate that we can accomplish great things when we work

04:51together. Thank you, Madam President.

'We Have The Opportunity To Lower Taxes For The American People Now': Maggie Hassan Lauds Tax Plan

Category

Transcript

Recommended