Peter Roskam: “I thank the gentleman for yielding. Mr. Speaker, we all know that short-term tax policy is bad for business, bad for the…”

“I thank the gentleman for yielding. Mr. Speaker, we all know that short-term tax policy is bad for business, bad for the economy, and bad for jobs, yet we have heard today from our friends on the other side of the aisle a couple of things. Number one, some have argued that we are too busy, and there are too many other things to be dealing with in Congress and so forth, and we ought to be doing other things rather than this. I guess you could make that argument. I don't think it is really persuasive. We can do all of these things, and they are not mutually exclusive. There is some argument that said that this proposal somehow is a manipulation. That is how the gentleman from Texas described it. I think the manipulation is having something in the Tax Code that we know we need to make permanent and not making it permanent, so let's manipulate the adverse effect out of the Tax Code. That is what we should be doing. There are some who have said that this is insignificant. I heard that a couple of minutes ago. This is not insignificant. According to the Tax Foundation, they say: Permanent bonus depreciation would grow the economy by 1 percent. That is not insignificant. It would increase capital stock by over 3 percent. That is not insignificant. It would increase wages by 1 percent, and it would create over 200,000 jobs. That is not insignificant. That is according to the Tax Foundation. So what is the choice?…”