Peter Roskam: “Thank you, Mr. Chairman. Ambassador, thanks for what you are doing for our country.”

The gentleman from Michigan asked the rhetorical question: Why are we here? I will tell you one reason why we are here. One reason why we are here is I have an independent recollection of being in my car on Michigan Avenue in Chicago…

I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of subtitle F of title XI, add the following (and make such conforming changes as may be…

Americans rightly expect us to do the best for our veterans. Social Security is no exception.

That is right. So, to the gentleman's point, a deduction is a decrease in a taxable liability; a credit is a credit. Once the tax is calculated, the credit is an amount that comes off of that tax liability, so it is a very significant…