On the recordOctober 4, 2017
I thank Chairwoman Black for yielding. Imagine what our opinion would be of a movie review where the reviewer simply looked at a movie poster and then wrote the review and came to a conclusion that they didn't like the movie. They didn't listen to the music. They didn't see the direction. They didn't see the pacing. They didn't see the acting. They didn't see the script. They didn't see the cinematography. They saw nothing other than a movie poster and they came to a conclusion. We would dismiss that and we would say: How ridiculous. How absurd. Mr. Chairman, that is exactly what the Tax Policy Center did this past week. They wrote a review of a proposal as it relates to tax reform, and they didn't have the details. Why didn't they have the details? Because many of these details don't exist. {time} 1515 Specifically, they wrote a review which was very pejorative, which the Wall Street Journal completely trashed. They made this finding, and they had no notion of what the income brackets are like in our proposed tax reform plan. They had no notion about the anti-abuse rules that the Ways and Means Committee is working through to make sure there is not an abusive situation as it relates to pass-through entities. They had no notion about some of the offshore protections that are being contemplated. Let's avoid the hyperbole. Let's avoid the hackneyed, old, tired, and faded bumper sticker that says that any kind of pro-growth tax reform is a sop to the rich.…
