On the recordMarch 5, 2013
I yield myself such time as I may consume. Mr. Speaker, let me make three quick points: first, as to the underlying merits of the bill, transparency matters. It matters that we let the American people know what is happening here. This calculation called for under the bill shows that in recent years we've been racking up $6,800 in debt for every American taxpayer each year. That's a lot of money; secondly, we've heard from folks on the other side of the aisle about the need to close loopholes. I would submit that there is broad consensus that we need major tax reform. There is broad consensus that the loopholes that our Tax Code is riddled with should go away. The question is: Then what do you do with the money that comes from those reductions? Do you put it back in the American economy to help grow the economy? The best way to balance our budget and get this House back in fiscal order is to have a growing economy with more taxpayers who can therefore pay additional tax revenue because they have a job, There has been a lot of talk on the other side of the aisle about the need for a balanced approach, but that balanced approach seems to ignore the fact that we had a $600 billion tax increase that passed this body on January 1. The President promised in his campaign 4-1 spending reductions to tax increases. We're not yet even to 1-1, and we talk in this Chamber about balance. Mr. Speaker, I yield 2 minutes to the distinguished gentleman from Florida (Mr. Bilirakis).
