THOMPSON VOTES AGAINST UNPAID FOR TAX PACKAGE
Washington, D.C. – U.S. Rep. Mike Thompson (CA-5) today voted against H.R. 2029, legislation that extends or makes permanent numerous tax provisions but isn’t paid for and would add upwards of $680 billion to the national debt. Those tax provisions made permanent include conservation easements, the research and development tax credit, Section 179 capital expensing for small businesses, and expanded versions of the Child Tax Credit, Earned Income Tax Credit and the American Opportunity Tax Credit for college expenses.
“This bill contains a number of polices that I have long supported, and it even includes a conservation provision that I’ve championed since coming to Congress,” said Thompson. “The fact that I’m voting against today’s bill, speaks volumes to just how fiscally reckless this legislation is. We should enact polices like conservation easements and the R&D Tax Credit. They’re good for our country. But we can’t do it by forcing our kids and grandkids to foot a nearly $700 billion bill.”
The legislation passed the House by a vote of 318-109. It now goes to the Senate for consideration.