Speech #1100134398

While I generally oppose the idea of rebate checks. this change from the House bill is probably one on which we can agree. But we should understand that fully 42 percent of the rebate approved by the Finance Committee is classified as "spending" because it would go to individuals with no tax liability. The Finance bill also seeks to ensure that illegal immigrants cannot legally obtain tax rebates. something we all support. The Finance package also includes the same business tax breaks as the House bill but adds a 5year carryback for net operating losses. This is an important provision that I helped to have included in the Finance bill and I would support adding it to the House bill.