American Taxpayer Relief Act of 2012by Representative Darrell E. Issa
Posted on 2013-01-01
ISSA asked and was given permission to revise and extend his
Mr. ISSA. Mr. Speaker, I'd like to be speaking for this bill, but I
can't. In the 12 years, almost to the day, that I've served in this
body, I've voted for every tax cut, every tax cut. And I remember many
of my colleagues, many of them friends to my right here, who, each time
we voted for them said, where is the PAYGO? Where is the pay-for?
Well, Mr. Speaker, there's $4 trillion of new debt and deficit and
there's no pay-for, and there's no anticipation of a pay-for.
In the last night, or the last 2 days, of a Congress, to say that 2 months from now a new Congress is going to do what we're not doing here today is not something I can bring myself to do.
I would like to vote for this because I do vote for lower taxes. I want Americans to have lower taxes. But the other day, in conference, one of my colleagues pointed out that if, in fact, you're spending the money, you're taxing our future generation.
We are taxing $1.2 trillion next year. We are taxing $1.2 trillion. We won't collect it, but we are taxing $1.2 trillion of deficit.
The chairman of the Ways and Means Committee, Mr. Camp, rightfully so said we're also not simplifying the Tax Code. We're not making it better or fairer. We're not getting rid of the NASCAR loophole. We're not getting rid of the electric motor scooter low-speed loophole. We're not getting rid of a whole lot of tax things that are here.
But most importantly, we're not taking things that the President himself said he would be for, like getting the calculation of chained CPI, of the consumer price index for Social Security and the Federal workforce and pensions right, which, would, in fact, reduce the deficit going forward.
So because of what we're not doing, I cannot believe that this tax cut will, in fact, be followed with a spending cut to offset any part of the $4 trillion we're putting on the backs of future generations.
So I thank all of you who will vote for it. I cannot bring myself to vote for it tonight.