Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Lucas Votes to Permanently Extend Tax Relief to Families, Farmers & Job Creators
Tamara Hinton, 202.225.0184
WASHINGTON – Today, Chairman Frank Lucas issued the following statement regarding his vote to permanently extend tax relief to American families, farmers, and job creators.
"I am pleased the House passed H.R. 8, The American Taxpayer Relief Act, on Tuesday, which provides permanent tax relief for families, farmers, and small businesses and prevents an enormous tax increase on all Americans. Specifically, this bill locks in place current tax rates for middle class families, provides a permanent patch for the alternative minimum tax (AMT), and holds down the death tax for farmers and ranchers. It postpones the sequestration, which would have caused harmful cuts to our national defense during a time when we are still fighting a war in Afghanistan. Further, this bill provides a one year extension of the 2008 farm bill, which gives agricultural producers certainty and allows the Agriculture Committees in Congress to continue working on a five-year comprehensive farm bill.
“This legislation is only one step in the process of solving Washington’s spending problem. Now it’s time for the President to work with Congress to address our $16 trillion dollar debt and find responsible, commonsense ways to cut spending and grow our economy. I will continue to work with my colleagues in the House of Representatives in this effort and protect hard-working American taxpayers.”
Click here for the audio of his statement.