Dave Camp

Mr. CAMP

Mr. CAMP. We also have strong industry support in a letter to Congress from 62 organizations, including the U.S. Chamber of Commerce, American Road and Transportation Builders Association, the American Trucking Association, and the National Association of Manufacturers, which stated, ``A long-term Federal commitment to prioritize and invest in our aging infrastructure and safety needs is essential to achieve this goal. Keeping the highway trust fund solvent is the first step.'' Mr. Speaker, I will enter their statement of support into the Record as well. July 14, 2014 To Members of the U.S. Congress: The undersigned organizations representing every sector of the economy urge the House of Representatives and Senate to pass bipartisan legislation that will stabilize the Highway Trust Fund and prevent a shutdown of federal highway and public transportation investments across the country. Our transportation infrastructure network is the foundation on which the nation's economy functions. American manufacturers, industries and businesses depend on this complex system to move people, products and services every day of the year. As the World Economic Forum (WEF) noted in its 2013-2014 Global Competitiveness Report, infrastructure connects regions, integrates markets and provides access to markets and services. While this latest report places the U.S. economy fifth in its ``Global Competitiveness Index,'' America's infrastructure network now ranks 15th globally. Shortchanging the Highway Trust Fund is not the path to future economic growth, jobs and increased competitiveness. The possibility of a deficient Highway Trust Fund that shutters 100,000 construction projects that support 700,000 jobs and puts all new highway, bridge and public transportation investments on hold will further harm an already fragile economy. The U.S. economy requires a surface transportation infrastructure network that can keep pace with growing demands. A long-term federal commitment to prioritize and invest in our aging infrastructure and safety needs is essential to achieve this goal. Keeping the Highway Trust Fund solvent is the first step. We urge Congress to avoid the immediate transportation cliff and improve the long-term fiscal condition of the Highway Trust Fund during 2014. Sincerely, National Association of Manufacturers, U.S. Chamber of Commerce, American Road & Transportation Builders Association, Associated General Contractors of America, National Retail Federation, American Trucking Association, U.S. Travel Association, American Farm Bureau Federation, Mothers Against Drunk Driving, NAACP, American Association of State Highway and Transportation Officials, International Union of Operating Engineers, American Society of Civil Engineers, Laborers International Union of North America, National Association of Development Organizations, NAIOP, the Commercial Real Estate Development Association, American Public Transportation Association, Airports Council International--North America, Transportation for America, Building America's Future. Smart Growth America, Commercial Vehicle Safety Alliance, The American Association of Motor Vehicle Administrators, Governors Highway Safety Association, American Highway Users Alliance, American Public Works Association, American Council of Engineering Companies, National Stone Sand and Gravel Association, Transportation Intermediaries Association, The American Society of Landscape Architects, American Iron and Steel Institute, National Utility Contractors Association, American Concrete Pipe Association, American Concrete Pavement Association, National Ready Mixed Concrete Association, National Asphalt Pavement Association, Truckload Carriers Association, American Association of Airport Executives, International Bridge, Tunnel and Turnpike Association, Intelligent Transportation Society of America (ITS America). Safe Routes to School National Partnership, League of American Bicyclists, Alliance for Biking & Walking, Association of Pedestrian and Bicycle Professionals, National Tank Truck Carriers, American Moving & Storage Association, NATSO, representing America's Truckstops and Travel Plazas, National Recreation and Park Association, Metropolitan Planning Council (Chicago, IL), American Traffic Safety Services Association, SMART--Transportation Division, Safe Kids Worldwide, PeopleForBikes--Business Network, PolicyLink, International Warehouse Logistics Association, The National Industrial Transportation League, The Coalition for America's Gateways and Trade Corridors, Association of Equipment Manufacturers, Portland Cement Association, Associated Equipment Distributors, National Electrical Contractors Association National Electrical Manufacturers Association (NEMA).

Mr. CAMP. Mr. Speaker, I yield myself such time as I may consume. At the end of this month, States across the country will be forced to put road construction on hold if Congress cannot address the highway trust fund. At risk are hundreds of thousands of jobs in the construction industry. A strong infrastructure is central to commerce, and at a time when millions of Americans are packing their bags to take a vacation or just traveling to work, we must ensure that projects can be completed so that the roads, bridges, and highways they travel on are modernized and safe. The bill before us today, H.R. 5021, will provide enough funding to get us through May 21, 2015, giving States the ability to complete projects. This bill is the only package with all provisions having a proven history of getting big bipartisan votes in both the House and the Senate. The three provisions--pension smoothing, custom user fees, and leaking underground storage tanks--have all been used previously in bills that received strong bipartisan votes. Pension smoothing and LUST were included in the last bipartisan highway trust fund legislation. These are policies everyone is familiar with. They are policies that will provide the funding we need, and they are the only policies that will pass both the House and Senate in time to fund our highways after the end of this month. A long-term solution would be my preference, and an important feature of my tax reform discussion draft would provide enough revenue to maintain the solvency of the highway trust fund for 8 years. In the meantime, I hope all Members of Congress can work on a longer- term solution by the end of May next year. This won't be an easy task, so it is important that Congress has time to have a deliberative, open debate about bipartisan solutions, rather than trying to hit Americans who are already paying more for gas with a gas tax hike. It is time to act now. State transportation departments have already started delaying or stopping certain highway projects to prepare for the fact that funding may fall short. Americans across the country deserve to see less gridlock on the roads and from their elected representatives. These policies are straightforward and have a history of bipartisan, bicameral support. I am encouraged that the White House issued their support for the House highway bill, so we have an opportunity to solve this problem today. Mr. Speaker, I will enter into the Record the administration's statement of support. Statement of Administration Policy H.R. 5021--Highway and Transportation Funding Act of 2014 (Rep. Camp, R-Michigan, and Rep. Shuster, R-Pennsylvania, July 14, 2014) With surface transportation funding running out and hundreds of thousands of jobs at risk later this summer, the Administration supports House passage of H.R. 5021. This legislation would provide for continuity of funding for the Highway Trust Fund during the height of the summer construction season and keep Americans at work repairing the Nation's crumbling roads, bridges, and transit systems. However, this legislation only provides a short-term fix to the Highway Trust Fund. It does not address the continued need to pass a long-term authorization bill that creates jobs and provides certainty for cities, States, and businesses. Congress should work to pass a long-term authorization bill well before the expiration date set forth in H.R. 5021. The President has been very clear that increasing investment in the Nation's infrastructure is a top priority. That is why the President laid out a vision for a 21st century surface transportation infrastructure, the GROW AMERICA Act, which would streamline project approval processes and implement innovative transportation policies that will make better use of taxpayer dollars while supporting millions of jobs and positioning the Nation's economy for lasting growth. That proposal is fully paid for through existing revenues and by reforming business taxes to help create jobs and spur investment while eliminating loopholes that reward companies for moving profits overseas. The Administration is focused every day on what can be done to expand opportunity for every American. In today's economy, that means building a first-class infrastructure that attracts first-class jobs and takes American businesses' goods all across the world.

Mr. CAMP

Mr. CAMP. Mr. Chairman, I yield back the balance of my time.

Mr. CAMP. Mr. Chairman, I yield to the distinguished gentleman from Texas (Mr. Brady), a member of the Ways and Means Committee.

Mr. CAMP. Mr. Chairman, I reserve the balance of my time.

Mr. CAMP. Mr. Chairman, I yield to the distinguished gentleman from Louisiana (Mr. Boustany).

Mr. CAMP. Mr. Chairman, on Friday, June 13, the IRS admitted to Congress that it had destroyed 2 years of Lois Lerner's documents-- documents at the very center of the IRS targeting individuals for their beliefs. The IRS buried this fact on page 15 of a 27-page document, 4 months after political appointees in the Obama administration had been informed that the emails were destroyed. When IRS Commissioner Koskinen came before the Ways and Means Committee earlier this year, he pledged transparency, stating, ``When I find out something, you will be the first to know.'' Well, we now know that is not true, as the IRS has misled Congress and obstructed our investigation for months. The IRS even went so far as promising the Ways and Means Committee that it would receive all Lerner documents in May, after knowing that thousands of Lerner emails were destroyed and they could not possibly fulfill our request. This is inexcusable. Once the Ways and Means Committee learned of the destroyed emails, we asked that the IRS provide all information and documents related to the emails, as well as make IT employees available for interview. The IRS has refused this request and will not make IT employees available for interview. I come to the floor today to reduce by $2 million the IRS' funds for the Office of the Commissioner and Office of Legislative Affairs, who recently have attempted to obstruct this investigation and who have misled Congress and the American people. The Committee on Ways and Means will continue to pursue this investigation until we understand the full scope of the targeting and obtain all of the documents and interviews the committee has requested. The American people have lost trust in the IRS, and a full accounting of the targeting and those responsible is necessary before the IRS can hope to rebuild that trust. Mr. Chairman, I yield to the distinguished gentleman from Florida (Mr. Crenshaw).

Mr. CAMP. Mr. Chairman, I have an amendment at the desk.

Mr. CAMP

Mr. CAMP. Well, I am pleased to hear that my colleague on the other side actually agrees with me that we need bonus depreciation because this motion to recommit extends that policy for 2 years. The reason why I oppose this motion to recommit is because, again, this is temporary tax policy. We are the only nation in the world that allows important tax provisions to expire. We are alone on that. Nobody else does that. That is why it is so important that we make this policy permanent. Let me just say that the economy is contracting 2.9 percent in the last quarter. It is not growing. We are going the wrong direction. We have people whose real incomes are declining. People are out of work. More kids are living at home than ever before. We need to do something permanent to get this economy growing. Look, families are struggling in America. Let's do something pro- growth, something permanent. Certainly, we agree on the policy. You just don't want to do it for as long as we do. We would like to make this permanent. We have done it for 10 years, and for all practical purposes, with the uncertainty, we have agreed that the policy should be permanent. When you do it for that long, it should be. Let me just say, look, temporary policy never works. We have more than 100 associations and businesses representing millions of workers that have come forward and said: Please make this policy permanent, we support what you are doing, and we need it, so that we can have the certainty that we need to make investments. Look, the Tax Foundation has said that if we do this, if we make this permanent, we will grow the economy by 1 percent, that we will add $182 billion to the economy, we will increase stock, we will increase wages by 1 percent, which is $500 for an individual making $50,000 a year. Let's give America a raise. Let's vote for this bill. Let's vote against this motion to recommit. Mr. Speaker, let me just also say a lot of Americans know that the country is going in the wrong direction, but what they are really concerned about is they don't see us doing anything to make it better. We can restore the American Dream and not have it be some remnant of the past if we support permanent tax policy. Reject the temporary nature of this. Vote ``no'' on the motion to recommit, and vote for final passage on the bill. I yield back the balance of my time.

Mr. CAMP. Mr. Speaker, I withdraw my point of order and seek time in opposition to the motion.

Mr. CAMP. Mr. Speaker, I reserve a point of order against the motion to recommit.

Mr. CAMP. Mr. Speaker, I yield such time as he may consume to the gentleman from Ohio (Mr. Tiberi), a member of the Ways and Means Committee. Mr. Speaker, I ask unanimous consent that the gentleman from Ohio (Mr. Tiberi) control the remainder of the time.

Mr. CAMP. I do. After the failures of the policies of this administration, the House has spoken, and the gentleman's position has absolutely no merit.

Mr. CAMP. I do not yield.

Mr. CAMP. Mr. Speaker, I would just say that the gentleman's position has absolutely no merit after the failures of this administration to grow the economy and create jobs. We have an economy that is contracting. We have more kids living at home than ever before. We have real wages declining. After the failure of the policies of this administration to get the economy moving----

Mr. CAMP. Mr. Speaker, I yield myself such time as I may consume. Our current Tax Code is a wet blanket on this economy. It puts our businesses, their workers, and their products at a severe disadvantage. In this current climate, businesses aren't growing and hardworking Americans are seeing stagnant wages and fewer hours. Adding insult to injury, the United States is the only country that allows important pieces of its Tax Code to expire. The result: businesses and their workers are left constantly guessing whether certain policies will be around next year, hurting their ability to plan for the future. The National Association of Manufacturers told Congress that the ``expiration of bonus depreciation at the end of 2013 has had a chilling effect on the economy.'' This statement is clearly supported by the fact that for the first 3 months of 2014 total capital investment across the country fell by almost 12 percent, a major factor in why the entire U.S. economy contracted by nearly 3 percent. A survey of NAM members found that nearly a third of business owners would not make any investments this year without bonus depreciation and section 79 expensing, which the House voted on a bipartisan basis to make permanent in May. The legislation we have before us today would provide a permanent 50 percent bonus depreciation deduction and make the deduction available to more farmers and business owners across the country. In Congress, we always find a way to make things more complicated, but today we can enact a simple, bipartisan provision that provides an immediate incentive for businesses to invest and hire new workers. Bonus depreciation has received longstanding bipartisan support and has been renewed on a short-term basis 9 out of the last 12 years. After so many years of this policy being in place, it is time for us to agree that we should make it permanent so businesses can do what they do best: invest in the economy and hire new workers. The effects of making bonus depreciation permanent are real. Analysis done by the Tax Foundation found that permanent bonus depreciation would grow the economy by 1 percent, which would add $182 billion to the economy; would increase capital stock by over 3 percent; would increase wages by about 1 percent, or $500 for an individual making $50,000 a year; and would create 212,000 jobs. Growing a healthier economy, creating jobs, and helping Americans see bigger paychecks is exactly what this country needs. Making 50 percent bonus depreciation permanent is supported by associations representing a variety of industries: farmers, telecommunications, manufacturers, energy, construction, retailers, and technology. Over 100 groups have voiced their support for bonus depreciation stating that it ``will provide an immediate incentive for businesses to make additional capital investments, thereby boosting the U.S. economy and job creation.'' This provision has gained strong bipartisan support in the past, as have many of the permanent tax policies the House has voted on this year. By making longstanding features of the Tax Code permanent, we can facilitate a comprehensive overhaul of the Tax Code. Such an overhaul in turn will create an America that works with a strong, vibrant economy. Today's vote will bring the immediate economic relief so many businesses and hardworking taxpayers are asking for. I urge my colleagues to join us in making a stronger, healthier economy by passing this legislation, and I reserve the balance of my time. Point of Order

Mr. CAMP. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks and to include extraneous material on H.R. 4718.

Mr. CAMP. Mr. Speaker, pursuant to House Resolution 661, I call up the bill (H.R. 4718) to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation, and ask for its immediate consideration.

Mr. CAMP

Mr. CAMP. Mr. Speaker, today, I rise to commemorate the United States' role in preventing the death of millions of children under the age of five across the world. In a country where talk of a child's fifth birthday elicits happy memories of time spent with family and friends, we too often forget that in regions across the globe, many children never make it to their fifth birthday. Thanks to the support and generosity of the American people, U.S. aid programs have helped cut the number of child deaths, under the age of five, in half since 1990. The devastating and deadly effects of diseases like pneumonia, measles and malaria have been largely curbed across the globe with the support of Americans. These monumental advances are allowing millions more children to live the healthy, happy childhood that all kids deserve. It is important we recognize these advancements and honor the dedication and work of those that have made them possible. We must also continue to support efforts to improve children's lives around the world and redouble our efforts and commitment to children's health. It is my sincere hope the progress achieved by 5th Birthday and Beyond continues, and we can make this a world where no child unnecessarily suffers from, or ultimately succumbs to, a preventable or treatable illness.

Mr. CAMP

Mr. CAMP. No, I will not yield. The gentleman has had his time. I have very limited time here. Let me just say: if we just sit and wait, nothing is going to change. This policy has been extended many, many times for more than the budget window, unpaid for, with large bipartisan votes. Clearly, at the end of the year, this policy will be extended, unpaid for. So why not do something good for America? Why not do something good for those employers and those workers who are looking for an economy that starts to recover? We are the only nation in the world that has temporary tax policy. We are the only nation in the world that lets significant policies that help people invest and create jobs expire. At the end of the year, this will have been expired for a year, and then we will retroactively put it in place, but what we really need is permanent policy. So let's stop threatening small businesses with higher costs. That absolutely makes no sense. Let's get people back to work. Let's get people earning higher paychecks. Let's do something right for America. Vote against this motion to recommit and vote for the bill. I yield back the balance of my time.

Mr. CAMP. Mr. Speaker, you know what I hear from the other side? They are happy with the way things are. They are happy with a contracting economy, negative 1 percent growth in the last quarter. They are happy with fewer people in the workforce than the Carter years. They are happy with more young people living at home than ever before. They are happy with declining incomes for the middle class because they are saying just keep doing what we have been doing. In fact, as I think about it, my friend from Massachusetts said: Let's just wait and let the economic morass clear up. That is a direct quote. Let's just wait.

Mr. CAMP. Mr. Speaker, I withdraw my point of order, and seek time in opposition to the motion.

Mr. CAMP. Mr. Speaker, I reserve a point of order against the motion to recommit.

Mr. CAMP. Mr. Speaker, I ask unanimous consent that the gentleman from Ohio (Mr. Tiberi) control the remainder of the time.

Mr. CAMP

Mr. CAMP. Madam Speaker, I would just say to my friend from Michigan, yes, there is a Senate bill. It is a bipartisan bill that extends many tax policies. And guess what. It is not offset, because it has never been offset. And I would just remark that my good friend from Michigan has voted to extend this exact policy unoffset for 12 years. So I know the gentleman referred to ``hypocrisy.'' Let's talk about honesty. Let's be honest about this. This policy will not be offset. Let's give some certainty to the small businesses in America. Let me just say that I appreciated his comment that the economy needs help. With negative GDP growth in the last quarter, a contracting economy, certainly we do. With more kids living at home with their parents than ever before rather than pursuing careers, with median incomes declining, yes, we certainly do. Let me just say, small businesses and their workers, they are hit hardest by the burdens and regulations of an overly complicated Tax Code. Tax compliance costs are 65 percent higher for small businesses than for large businesses, costing them $19 billion a year. We need small businesses doing the best they can, creating jobs and growing our local economies, not buried under mounds of paperwork. The bill we have before us today is the right step forward to level the playing field between small businesses on Main Street and big businesses. If a small business chooses to operate as an S corporation for tax purposes, we should ensure that they have the ability to access certain capital without penalties. Under current law, an S corporation is subject to an entity-level tax at the highest corporate rate on certain built-in gains of property that it held while operating as a C corporation. The tax applies to gain recognized within 10 years from the date that the C corporation elected to be an S corporation, and in the past, Congress has shortened this period to 5 years. This bill would make permanent the 5-year period, eliminating a significant deterrent that often discourages closely held C corporations from electing the S corporation status, thus subjecting them to a double tax. Additionally, we should ensure that S corporations receive the same treatment as partnerships when it comes to charitable donations. By achieving parity between different businesses, we can encourage all small businesses to continue their generous support of charitable activities. This legislation is supported by 35 groups representing thousands of small businesses and their workers, who wrote that this legislation will allow small businesses to ``make decisions based on what is best for the company rather than the dictates of the Tax Code. At a time when our economy badly needs increased investment, allowing more companies to access their own capital is an important step.'' Additionally, they write, this legislation would ``allow America's S corporations to be more active and supportive of much-needed charitable activities.'' This is a bipartisan, commonsense bill that will give small businesses some much-needed relief from the burdens of the Tax Code and allow them to make new investments and create new jobs, and I urge its support.