The Tax Relief Package is a Major Win for Iowa Businesses and Families 

This week, I voted for the H.R. 7024, the “Tax Relief for American Families and Workers Act.” This consequential legislation supports families and communities, invests in small businesses, and builds on the successes of the 2017 GOP Tax Reform.

The bipartisan legislation came about after negotiations between the Ways and Means Committee Chairman Jason Smith (MO-8) and the Senate Finance Committee Chairman Ron Wyden (D-OR). The negotiations and bipartisan work resulted in a larger legislative package that pairs tax breaks for both families and small businesses. 

This legislation includes provisions that would expand the Child Tax Credit and boost the maximum credit per child from $1,600 to $2,000 through 2025. According to the Center on Budget and Policy Priorities, approximately “half a million or more children would be lifted above the poverty line” if this legislation is enacted.  

The refundable Child Tax Credit also addresses the skyrocketing prices of everyday goods by adjusting the credit allowance for inflation in 2024 and 2025. Rather than limiting families and capping the credit at 15 percent of earned income over $2,500, the maximum credit for each taxpayer is calculated on a per-child basis, which would go a long way for larger families working to make ends meet. 

The tax package also offers protections for affordable housing, by raising the ceiling for the low-income housing tax credit by 12.5 percent through 2025. This adjustment would also allow states to allocate more credits for affordable housing projects and reduce the tax-exempt bond financing requirement. 

In addition to supporting families and protecting low-income housing credits, the legislation also invests in American businesses by extending three business deductions that were a part of the 2017 Tax Cuts and Jobs Act. It also supports companies and immediately deducts the cost of their U.S. based research and development (R&D) investments, rather than spreading the deduction over five years. The legislation also reestablishes the full and immediate expenditure on investments in machines, equipment, and vehicles. 

Bottom line, this legislation is a major win for Iowa businesses and families. It not only helps families put food on the table, but it also invests and incentivizes businesses to increase R&D efforts, which leads to greater innovation. 

During a time that is often marred by Congressional gridlock, I am extremely proud of this strong example of House Republicans leading a bill, taking it through regular order, and delivering for the American people. This pro-family, pro-worker, and pro-business legislation is good for our country and communities and now it is time for the Senate to act and pass this legislation. 

Weekly Wrap Up

Iowans in D.C.

It is always great to meet with Iowans while they are in Washington! It truly is my favorite part of serving in Congress. Speaking to residents of the First District allows me to stay informed of what is going on in their communities and what I can do to help.

This week, I met with representatives from Vermeer and the Power and Communication Contractor Association to discuss rural broadband deployment and workforce challenges. Thank you for the discussion!

I met with representatives from the National Federation of the Blind of Iowa about the importance of web and device accessibility.

Our young leaders always inspire me, and this week, I enjoyed meeting with leaders from the Iowa State University Student Government while they were in town. Thank you all for discussing college affordability and mental health initiatives on campus, and best of luck on your future endeavors.

It was great talking to Cynthia Fisher, Founder and Chairman of PatientRightsAdvocate.org, after the House Energy and Commerce Committee hearing on rising healthcare costs. We must continue to work to pass legislation that increases price transparency and gives the power to the patients.

In a rapidly evolving world, it’s essential that Congress works with private industry to ensure we have the ability to compete with global adversaries like China. This week, I had the opportunity to speak during the TechNet 2024 Federal Policy Retreat. 

I highlighted the importance of American global leadership in advanced and innovative science and technology in every sector, from energy to healthcare.

Maintaining a secure border is essential to our national security, our sovereignty, and economic prosperity. Thank you, Americans For Prosperity, for inviting me to speak during the launch of your Four Pillars of Border Security and Visa Reform to discuss how Biden’s border crisis is effectively making every state a border state. 

Young Kim Congressional Delegation

While in Vietnam with ⁦Rep. Young Kim and the House Foreign Affairs Committee, I met with the Deputy Minister (Thang) of Industry and Trade and I discussed biofuels, especially E5 and biodiesel, decrees on DDGs, soybean and corn gluten meal and GMO’s advancing trade opportunities with Iowa.

As a 24 year Vietnam era Army veteran whose brother served in Vietnam, our trade, energy and economic Congressional Delegation to Vietnam included an emotionally moving visit to Defense POW/MIA Accounting Agency (DPAA) regarding critical efforts to find and reunite service members with their families.

Midcontinent Independent System Operator

I had a highly informative visit to MISO (Midcontinental Independent System Operator) in Carmel, Indiana, the independent nonprofit organization, responsible for maintaining reliable and cost-effective delivery of electricity to Iowa and 14 other states and one Canadian province.

National Prayer Breakfast

I was honored to attend the 72nd annual National Prayer Breakfast this week.

Floor Speeches

I want to thank Rep. Debbie Wasserman Schultz (FL-25) for hosting an important special order this week to call for the safe return of all the hostages held by Hamas. I will continue to stand with Israel, call for the return of the hostages, and work to deter the concerning rise of antisemitism in the U.S.

Tory Taylor is the First Iowa Hawkeye to win the Ray Guy Award, an award that is given to the nation’s top collegiate punter. Congratulations, Tory, and Go Hawks!

Congratulations, Paula Sands, on a very impressive career and a well-deserved retirement.

For six decades, the Iowa 80 Truckstop, which is also known as “the world’s largest Truckstop,” has been more than just a pit stop for drivers; it’s a testament to the resilience, hard work, and camaraderie that define the trucking community. This week, I took a moment to celebrate their milestone!

This week, I took a moment to highlight National Glaucoma Awareness Month and the need to prevent, treat, and preserve our vision.

Committee Hearings

Cybersecurity solutions need to be scalable, sizable, and affordable. This week, I discussed the need to create better models to reach solutions, compliance enforcement, and technical assistance for water systems nationwide, especially in rural areas.

During this week's House Energy and Commerce hearing on healthcare spending, I highlighted skyrocketing healthcare costs and the need for transparency.

This week, I participated in a House Select Subcommittee on the Coronavirus Pandemic hearing and discussed how the Department of Health and Human Services is accountable to the Oversight Committee.

It was my honor to speak about the commitment we owe to the surviving family members and spouses of our service members. We must continue our work to ensure they receive the benefits and care they are entitled to in a timely fashion.

As a physician, I understand the value AI can bring when providing healthcare to our veterans. During this week's House Veterans Affairs Committee hearing on data privacy and AI, I highlighted the opportunities and the challenges that lie ahead when safeguarding veteran data, privacy, and security.

Legislative Roundup

This week, I introduced the following legislation:

"The Alternatives to Prevent Addiction in the Nation (Alternatives to PAIN) Act," legislation that would provide greater access to non-opioid treatments for pain management for seniors. Read more here.

I voted in favor of the following legislation:

H.R. 7024, the "Tax Relief for American Families and Workers Act." This bill increases and modifies child tax credit provisions, increases depreciation allowances to promote economic innovation and growth, provides special rules for the taxation of residents of Taiwan with income from U.S. sources, increases tax relief provisions for losses due to natural disasters and wildfires, and increases the low-income housing tax credit.

H.R. 6976, the "Protect our Communities from DUI's Act," legislation that makes driving while intoxicated or impaired a ground for barring a non-U.S. national from admission in the United States, or deporting the individual.

H.R. 6679, the "No Immigration Benefits for Hamas Terrorists Act," legislation that imposes immigration-related penalties on certain non-U.S. nationals (aliens under federal law) who are involved with terrorism or attacks against Israel.

H.R. 6678, the "Consequences for Social Security Fraud Act," legislation that makes certain acts related to Social Security or identification document fraud a ground for barring a non-U.S. national (alien under federal law) from admission into the United States, or deporting the individual.

H.R. 5585, the "Agent Raul Gonzalez Officer Safety Act," legislation that establishes new federal criminal offenses for operating a motor vehicle within 100 miles of the U.S. border while fleeing from a U.S. Border Patrol officer or a federal, state, or local law enforcement officer who is actively assisting or under the command of the U.S. Border Patrol.

H.R. 5528, the "Safe and Smart Federal Purchasing Act," legislation that requires the Office of Management and Budget (OMB) to evaluate the procurement activities of each agency to determine whether provisions of the Federal Acquisition Regulation related to the lowest price technically acceptable source selection process have created any national security risk and report to Congress.

S. 3427, the "Overtime Pay for Protective Services Act," legislation that authorizes overtime funding for the Secret Service’s protective operations.

Sincerely,