Chuck Grassley: “I am glad that Senator Frist and other Senators were able to work out the parliamentary maneuvering that it takes to get…”

“I am glad that Senator Frist and other Senators were able to work out the parliamentary maneuvering that it takes to get us to finality on this JOBS bill. We obviously want to encourage the creation of jobs and manufacturing in America. We want to reduce reasons for outsourcing. This bill deals with all of those and some others as well. Throughout this debate, I feel as though I was whipsawed in arguments trotted out by opponents of this bill. They complain about accommodations we have made to Members. Some of these accomplishments and accommodations have even helped folks in States of the critics. Then they complain about what is not in this bill that should have been included in this bill. First of all, I don't know how many times I have to say this, but I think it needs to be continually said. This bill is revenue neutral. Yes, we decrease taxes for partnerships, family-owned businesses, and corporations that are involved in manufacturing, reducing that from 35 to 32 percent. Obviously, that brings in less revenue, but that does not mean the deficit of the United States is going to be increased. We pay for it by raising revenue from businesses, by closing corporate tax loopholes, and we collect that new revenue coming in to small businesses, especially to any size business that manufactures--large or small. This bill is basically about manufacturing jobs. That is where the revenue in this bill goes.”