On the recordFebruary 3, 2009
I was aware. The Senator is absolutely right. They said it would cost $3 billion from the Treasury and, in essence, $16 billion was added to the Treasury, and even now they are saying over the first 2 years there will be $5 billion added to the Treasury. My friends don't talk about that; they talk about the long range. I also say to my friends who oppose us so vociferously, on the other side of this, you will find very respected economists who believe that the Boxer-Ensign-Bayh-Specter amendment makes sense. They are Alan Sinai--I don't know how my friend says he backtracked. He said this in December. Maybe he backtracked in the last 2 weeks. In December, he said that repatriation has spurred $280 billion in capital investments over a 5-year period, increased R&D development by $7 billion a year for 5 years, increased Federal revenue by $82 billion, and will create or save up to 425,000 jobs by 2012.
Source
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