Dan Coats

I have had the opportunity to listen to my colleagues from across the aisle and while my purpose is to address another subject, I do want to respond to what we have just heard from three Democratic Senators and a number of Republicans…

I cannot help but agree with my friend. It is a sad situation that we have in this country as our economy is kind of limping along, and so many young people graduating from school recently are unable to find meaningful jobs and work; so…

As the Senator from Oregon has said, small business is hit particularly hard these days. Because many choose not to incorporate, there is a passthrough, a passthrough of taxation rates as if these small businesses were individuals. They…

I thank my friend from Oregon for helping to organize this colloquy. We have worked together to try to fashion a comprehensive tax reform package that we think makes a lot of sense. Just about every analyst or economist or budget expert…

Well, Mr. President, if the Senator would yield. The PRESIDING OFFICER. The Senator from Indiana.

I wish to say to the Senator from California, many of the points she made are valid. I came back for the purpose of addressing our overspending and that involves all kinds of tax expenditures and all kinds of subsidies. It is necessary…

I accept that fully. Having had the opportunity to work with Senator Feinstein on the Intelligence Committee, I do not hesitate for a second to accept her word and know she will keep it. It has been a pleasure to work with her on that…

The Senator from Oregon is exactly right. I took three tax courses in law school. I cannot do my taxes with any assurance that I am doing it right because this code has become so incredibly complicated. The alternative minimum tax adds an…

I know the Democratic side has not used its full allotment of time, but because another speaker is not here, I will go ahead, and hopefully we will be able to yield time if someone else does come forward. ____________________

I want to thank my colleague from Oregon, Senator Wyden, for working with me, and particularly working with Senator Gregg who is now retired from this Chamber. They spent an extraordinary amount of time, very productive but very time…

I have been on the Senate floor several times now during the last few weeks to discuss our grave economic condition, the need to reduce Washington's out-of-control spending, and, most importantly, the urgent need to start taking action…

Absolutely not, I would say to the Senator from Oregon. Clearly, if you go back to the origin of the alternative minimum tax, it was designed to go after those handful, in comparison to the total number of taxpayers in this country, who…

Let me skip forward here. Despite the President's own recognition of this problem, we have not taken this plan forward. There are do-nothings who think that if we do not act, Medicare will be secure. Actually, the do-nothings are the ones…

I ask unanimous consent for 2 more minutes. The ACTING PRESIDENT pro tempore. Without objection, it is so ordered.

Thank you all for your testimony. It was helpful and important for us.

I wish to thank the Senator from North Dakota for allowing me to go first. I will be relatively brief. I have spoken on the floor on a number of occasions regarding my frustration about the Senate not spending enough time debating what I…

Congratulations. Particularly at a time of fiscal constraint, it is important to hear that.

It is clear one of the nations that we have a very significant relationship with, particularly in terms of trade, is China.

I think collection of duties is one way we can help offset some of the potential declining revenues.

Again, thanks to the panel for your contributions here, and we look forward to continuing to work with you and administration officials to, as you say, go after that low-hanging fruit and have a better system that not only brings in more…

Thank you. Just answered one of my questions.

Thank you, Madam Chair. Thanks, all four of you, for your testimony here this morning.

I want to assure you that those of us in Indiana don't have access to Indiana shrimp.

Would you name those four industries?

This has been very, very helpful.