June 11,2003

Baucus Urges House Passage of Child Tax Credit for Working Families

(WASHINGTON, D.C.) - U.S. Senator Max Baucus today urged the U.S. House of Representatives to immediately take up the Senate version of the child tax credit legislation in order to provide America'sworking families with much needed tax relief.

"The Senate last week overwhelmingly passed a $3.5 Billion child tax credit bill that rights a wrongthat the Jobs and Growth tax bill created," Baucus said. "Our package will provide America's workingfamilies who make between $10,000 and $27,000 a year with the child tax credit. It will also ensure that thefamilies of military personnel will receive the child tax credit. This can be achieved by our $3.5 Billion bill,which is completely paid for and won't add to the Federal deficit.

"There is no need to pass a bill the the House has proposed," Baucus added. "We need to focuson the immediate problem of 12 million kids who were left behind."

Baucus highlighted the recent report released by the Congressional Budget Office (CBO). TheCBO has projected this year’s deficit at more than $400 billion -- $100 billion more than itprojected only one month ago.

"The CBO has cited the passage of the $350 billon tax cut as one reason for the increasedbudget deficit," Baucus said. "This is not the time to pass another large tax cut that will only pushour country further in the red. BUT, it is the time to pass a reasonable $3.5 billion package -- that isoffset -- that will send checks to America families who were neglected in the tax bill the Presidentrecently signed into law."

Baucus highlighted the need for the House to pass the Senate version of the bill immediatelyso that working families could receive the child tax credit relief.

"We must pass this bill as soon as possible in order to minimize the delay so that thesefamilies also receive a check this summer. Our working families are the folks who can use this taxrelief the most and who are most likely to spend it, which will help to rebuild and strengthen theeconomy. This is a win- win situation," Baucus said.

Baucus also stated that he will oppose any bill that is the that the House leadership hasproposed.

"I emphatically urge my House colleagues to pass the Senate version of the child tax creditand send it to the President without delay. I can't support the bill they have put forward that costsover $80 billion -- we don't need to spend $80 billion to solve a $3.5 billion problem. Let's pass thebill now and send it to the President's desk. Let’s not make our families wait any longer for the taxrelief they deserve."