Roth Urges Colleagues to Approve Legislation Benefiting Americans with Disabilities and Tax Extenders
WASHINGTON -- Senate Finance Committee Chairman William V. Roth, Jr. (R-DE) today urged Senators to approve the final Senate/House compromise version of legislation that would help Americans with disabilities, and extend expiring tax and trade provisions. He delivered the following statement on the Senate floor:
"Mr. President, I am pleased with the progress we have made in two very important areas on issues that will affect the lives of Americans everywhere. This legislation -- the Ticket to Work and Work Incentives Improvement Act of 1999 -- will go a long way toward improving the quality of life for millions of Americans with disabilities. At the same time, important provisions within this legislation -- provisions that extend important tax and trade relief provisions -- will bring meaningful relief and increased opportunities to individuals and families.
"The Ticket to Work and Work Incentives Improvement Act will help Americans with disabilities live richer, more productive lives. Its core purpose is to assist disabled individuals in returning to work. It removes the fear many people with disabilities have of losing their health insurance, and it provides new ways of helping them find and keep meaningful employment.
"Is there any question how important this is?
"Millions of Americans with disabilities are waiting for this vote. They are waiting to be freed from a disability system that stifles initiative and thwarts productivity rather than rewarding them -- a system that tells individuals with disabilities that if they leave their homes and try to find productive employment they will lose their access to health insurance. The current system isn't right, Mr. President. It isn't productive. And it certainly is not ennobling.
"Under current law, if a person with a disability wants to return to work -- even taking a job with modest earnings -- he or she will jeopardize access to insurance coverage through the Medicaid and Medicare programs. And as many individuals with disabilities have difficulties securing private sector insurance coverage, losing access to Medicaid or Medicare is not an option. In fact, it's a tragic consequence for many people with medical conditions that demand ongoing treatment.
"As a result, the only recourse these individuals have is to forego the opportunity to work -- to build and grow professionally and personally -- and to stay at home.
"No one, Mr. President, should be forced to choose between health care and employment. Robbing an individual of the opportunity to work becomes a double tragedy in the life of someone who is living with a disability. It's been said that work is the process by which dreams become realities.
"It is the process by which idle visions become dynamic achievements. Work spells the difference in the life of a man or woman. It stretches minds, utilizes skills and lifts us from mediocrity.
"No one should have to choose between health care and work, and passage of the Work Incentives Improvement Act will make that choice unnecessary. By acting on this legislation today, the Senate will offer new promise to millions of Americans with disabilities.
"This legislation will help promote their independence and personal growth. It will help restore confidence and meaning in their lives -- and greater security in the lives of their families.
"The unemployment rate among working-age adults with severe disabilities is nearly 75 percent. What a tragic consequence of errant public policy that discourages those who can and want to work from attaining their desires. It's my firm belief that this number will come down -- it will come down dramatically as we pass this law allowing them to return to the workplace.
"My belief is based in part on the fact that over 300 groups of disability advocates, health care providers, and insurers endorse this change and are anxiously waiting for us to act.
"But, Mr. President, these groups and individuals are not the only Americans watching what we do here today. Along with them, are countless others who are looking to this legislation to extend important tax and trade relief provisions that are included in the work incentives bill.
"These provisions are 'must do' business. Like appropriations, extenders are provisions that we have an obligation to address before we conclude this session. They are necessary fixes to our tax code, and will go a long way toward helping families and creating greater economic opportunity in our communities.
"Among the important provisions contained in these extenders is one that excludes nonrefundable tax credits from the alternative minimum tax ('AMT'). This change alone will insure that middle-income families receive the benefits of the $500 per child tax credit, the HOPE Scholarship credit, the Lifetime Learning credit, the adoption credit, and the dependent care tax credit. In this legislation, such relief is extended through December 31, 2001.
"Another important provision in this legislation extends and expands the tax credit for production of energy from wind and closed loop biomass. This important alternative energy provision expired on June 30, 1999. In this legislation, the tax credit is expanded to cover poultry litter-based biomass, and it is extended through December 31, 2001. For my home State of Delaware and many other poultry producing regions, this provision provides an important option for the disposition of poultry litter in a way that will be beneficial and productive.
"Other important expiring tax provisions included in this legislation are a five year extension and enhancement of the research and development tax credit and the tax-free treatment of employer-provided educational assistance. I can't overstate how important the R&D credit is to the high-tech community and many other important leading American economic sectors. The extension offered in this legislation will give businesses the certainty they need and will result in more and higher paid jobs for American workers.
"And as far as employer-provided educational assistance, I've made it clear that my goal is to make this provision permanent and expand it to graduate education. I know this is an important goal for Senator Moynihan as well. Over one million workers will benefit from this extension, and under this legislation, the provision is extended through the end of 2001 for undergraduate education.
"But, Mr. President, important extenders do not stop here. This legislation will also extend incentives designed to help Americans move from welfare to work through the end of 2001. These incentives include the work opportunity tax credit and the welfare-to-work tax credit.
"Other extenders include the active finance exception to Subpart F -- a provision that puts our banks, insurance, and securities firms on equal footing with their foreign competitors in overseas markets -- and five other important tax provisions that are scheduled to expire.
"These provisions, which are extended through the end of 2001, include the 'brownfields' expensing treatment of environmental cleanup costs. In addition, the school repair and renovation costs of some school districts are met by an extension of the qualified zone academy bond program.
"But the provisions included in this legislation are not limited to tax relief. We also include some important trade issues. For example, we extend the Generalized System of Preferences, as well as Trade Adjustment Assistance programs.
"Both of these trade provisions are extended through the end of 2001. Beyond these, there are several revenue raising provisions that we've included. Most of these, I am pleased to report, close loopholes in the tax code, raising some $3 billion in return.
"When all is said and done with this legislation, Mr. President, I am pleased that the tax relief in this bill amounts to a net tax cut of $15.8 billion over five years and $18.4 billion over ten.
"There's no question that what have before us is a dynamic piece of legislation. From providing hope and opportunity to Americans with disabilities to extending and expanding important tax provisions for individuals and families, this is a comprehensive package. It has been carefully constructed, debated, and addressed in conference. It includes the efforts of many of our colleagues and countless hours of staff work.
"I want to thank several Senators who have worked closely with me over the past year to bring the work incentives bill to the floor -- Senators Moynihan, Jeffords, Kennedy, and Bunning. Passage of the Work Incentives Improvement Act has been one of my top health care priorities during this Congress. And it would have been impossible without close, productive, bipartisan cooperation.
"Likewise, the effort we've made to address the important tax and trade extenders. Without the work and cooperation of my distinguished friend and the Finance Committee's Ranking Democratic Member, Senator Moynihan, we wouldn't be here today with a conference agreement.
"In closing, let me also mention that there are two provisions in this bill outside the Finance Committee's jurisdiction, one dealing with the organ donor program and the other dealing with a NOAA procurement matter. I ask my colleagues to join us in seeing that all of these important provisions are passed into law."
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