Political Quotes

Peter Roskam: “That is right. So, to the gentleman's point, a deduction is a decrease in a taxable liability; a credit is a credit.…”

On the recordMarch 6, 2018
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 thing. Said another way, credits are more valuable than deductions.
Said by
Peter Roskam
Republican · Illinois
Source
govinfo.gov
Mar 6, 2018

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