Another week in Washington comes to a close, but before I return to North Carolina for the weekend, I’d like to update you on a number of happenings here in the nation’s capital.
On Monday, I introduced the Children of Fallen Warriors AMT Relief Act, a bill that will remove the punitive burden that is currently imposed on the children of fallen servicemembers by our outdated tax code. Under our current tax laws, the children of a fallen servicemember who receive an annuity from the Uniformed Services Survivor Benefit Plan can unintentionally become subject to the Alternative Minimum Tax (AMT). This bill recognizes that the children of fallen soldiers have already sacrificed enough for their country, and ensures that they are not subject to the AMT. Click here to read more about it.
This week, the Senate continued debate on reforms for our financial regulatory system. Our financial system needs regulatory reforms, but we must be sure not to hurt our nation’s small businesses in the process. I am working hard to ensure that necessary credit is available for businesses and consumers and a proper system of checks and balances is established before I can support this legislation.
The bad news about the health care law pushed through by Senate Democrats continues to grow every day. The non-partisan Congressional Budget Office released a report that the new health care law will cost at least $115 billion more than the original projections over the next ten years. This staggering statistic even further strengthens my resolve to repeal this bill and replace it with commonsense reforms that do not harm Americans’ physical and financial health.
On Wednesday, I had the opportunity to meet almost eighty World War II veterans from North Carolina at the World War II memorial in Washington D.C. As we toured the memorial, I had the privilege to listen to these veterans recount stories from their time serving our country. I’m grateful to the Honor Flight Network for flying these veterans from the Triad area to D.C., free of charge.
Finally, the NASCAR Hall of Fame opened in Charlotte this week. Stock car racing traces its roots back to North Carolina, and I am thrilled that the Hall of Fame is located in our state. This facility will be a beacon for North Carolinians and NASCAR fans nationwide. I would also like to congratulate the 25 inductees of the inaugural Hall of Fame class which is comprised of a good number of North Carolinians. I am very excited to tour this new facility and look forward to NASCAR history being made in our state for generations to come.
U.S. Senator Richard Burr
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