In California. the capital gains tax rate reduction and the extension of the research tax credit are two tax proposals that translate directly into more jobs in the private sector companies that are at the heart of our economic recovery. creating the transition from a defensebased to an exportbased economy. California also appreciates that while we balance the budget. we do not ignore clear Federal priorities. At the forefront is the Federal responsibility to control our borders and provide funding for the cost of failed immigration policies. The $3.5 billion in Medicaid funds to assist States for the cost of health care to illegal immigrants providing multimillion dollar relief to California taxpayers is a critical new effort which is addressed in this bill. Mr. Speaker. the Balanced Budget Act is an agreement between the majorities in the House and Senate encompassing the views of Representatives with varied views on Government and its role in our society.
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