Rick Allen: “I would say, thank goodness the views of the Senator from North Dakota…”

On the recordNovember 17, 2003

I would say, thank goodness the views of the Senator from North Dakota are the minority view. The reality is, most countries do not impose these 35 percent taxes. The current tax law prohibits businesses or impinges on their ability to bring profits back into this country to help create jobs. A number of people, from Dr. Allen Sinai to Decision Economics to JP Morgan, have shown there would be 400,000 to 500,000 new U.S. jobs in this country, $100 billion in increased investment in this country in equipment and research and development, and a reduction in corporate debt if this legislation were enacted. You can keep the laws the way they are without this provision, and what you will see is more jobs going overseas. But if you have this 1-year benefit, you will find the benefit being in the hundreds of thousands of new jobs, with important investment here in America as opposed to overseas.

Said by

Rick Allen

Republican · Georgia

Source

govinfo.gov

Editor's note · Context

Discussing the impact of tax law on job creation and investment during a legislative debate.

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Rick Allen: “I would say, thank goodness the views of the Senator from North Dakota are the minority view. The reality is, most…”

Editor's note · Context