Statement of Administration Policy: Senate Amendment 3336 to H.R. 4213 - American Workers, State, and Business Relief Act of 2010
STATEMENT OF ADMINISTRATION POLICY
(Sen. Baucus, D-Montana)
The Administration supports Senate passage of the proposed substitute amendment 3336 to H.R. 4213. Passage of this bill will provide much-needed relief to families and to hard-pressed States while encouraging continued job creation by America's businesses. The importance of longer-term extensions for various authorities and programs - and the certainty that such extensions bring - has been highlighted by the severe problems caused by interruptions in authorities for these programs.
H.R. 4213 includes several important provisions, including: (1) an extension of extended unemployment insurance and COBRA subsidies through the end of the year, including reforms to improve COBRA subsidies; (2) prevention of dramatic cuts in reimbursements for doctors in Medicare along with extensions of other important health provisions; (3) an extension of increased American Recovery and Reinvestment Act (ARRA) Federal Medical Assistance Percentage rates that allow for enhanced Federal support for State Medicaid programs; (4) an extension of subsidies so that the Small Business Administration can continue certain lending programs with reduced fees and higher guarantees through the end of the fiscal year; and (5) targeted pension-funding relief.
The bill also includes several other important measures supported by the Administration. The extensions to expiring tax cuts include several provisions that will encourage companies to invest in new technologies and create more high-tech jobs for the 21st century, including extending the research and experimentation (R&E) tax credit for another year. The legislation also extends the tax credit for biodiesel and renewable diesel, providing clean energy companies with the certainty they need to make critical investments in the Nation's energy future.
The Administration also supports the inclusion of other important extensions, either in this bill or in future legislation. These provisions include: (1) an extension and expansion of the TANF Emergency Fund; (2) an extension of bonus depreciation; (3) an extension of Economic Recovery Payments; and (4) the expansion of oversubscribed ARRA programs, including the 48C tax credit for manufacturing and TIGER grants for transportation.
The Administration looks forward to continuing to work with the Congress on these and additional measures to spur private sector job creation.
Barack Obama, Statement of Administration Policy: Senate Amendment 3336 to H.R. 4213 - American Workers, State, and Business Relief Act of 2010 Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/289143