Political Quotes

“Madam Speaker, I thank Ranking Member Camp for yielding me this time. We are talking about jobs, and this bill purports to be a job- creation bill, but I have deep reservations about one of the pay-fors in the bill. It is in section 301. It raises $7.7 billion in taxes, and where do these taxes come from? Where does this tax increase come from? Well, it comes from U.S. companies who happen to be headquartered overseas. What does that mean? These are companies that employ U.S. workers. These are companies that are in every one of our communities that also stimulate business activity that help create jobs in other businesses that affiliate with these and do business with them. So what are we doing here? We are basically hurting U.S. job growth. We are hurting U.S. workers. Furthermore, this provision would basically abrogate some 60 bilateral tax treaties that we currently have. We know that the Senate has opposed these types of provisions in the past. So why are we doing this? Secondly, in the course of the hearing, we had the Deputy Assistant Secretary for Tax Policy and she had questions about this approach and said that this was not the preferred approach of the administration and also expressed concerns that this could invite retaliation upon U.S. companies doing business overseas, further hurting U.S. jobs. Now if we are going to create jobs, let's try to be sensible and make sure that our tax policy is coordinated with trying to create jobs.…”