David Schweikert: “I actually made a board for what the gentleman's point was, showing, within this reconciliation budget document, how…”

“I actually made a board for what the gentleman's point was, showing, within this reconciliation budget document, how much additional tax cuts are there for C corporations. There is your board. I am being a little sarcastic, but that is sort of a personality trait. The fact of the matter is, once again, the talking points don't match up with the reality here. Everyone in this room, your taxes go up at the end of this year. If you run a small business, a passthrough, not a C corporation, a passthrough, your taxes go up. If you are part of an employee-owned company, so you have come together and you are managing yourselves almost like an employee co-op, your taxes go up. Also, I hope but don't know if the capacity that this creates will allow us to do it, but I sure hope so. We have some great data, and I won't make you live through my charts that show expensing, research and development expensing and expensing. It has a cost in the 10-year window. Hopefully, everyone has listened to my dozens and dozens of speeches walking through what expensing is. Expensing is nothing more than depreciation. Do you take the expense in 1 year or, let's pretend, 7 years? You still get the exact same amount of reduction on your taxes. It is a timing effect. The difference is if you can't take it in the first year and you do it over 7 years, you have to finance it.…”