On the recordApril 14, 2011
I yield myself such time as I may consume. Mr. Chairman, there are two parts to the Tax Code. There is the corporate Tax Code. We need to clean up the corporate Tax Code. We agree with the fiscal commission. You've got to get out a lot of clutter, a lot of the tax breaks. In fact, we don't think you need a study to decide to get rid of the tax breaks that reward corporations for shipping American jobs overseas. We don't think you need to study the question about whether we get rid of big taxpayer subsidies for the oil companies. So, yes, we should take a look at the corporate Tax Code. But in the other part of the Tax Code, the individual Tax Code, what the Republican plan does is actually give the folks at the very top another 30 percent break. We have been talking about going back to the Clinton rates. The Republican plan gives you another 30 percent break. You know what? They say we are going to do this in a revenue-neutral way. Well, the result is middle income taxpayers are going to pay more to give the folks at the top another big break. With that, I yield 2\1/2\ minutes to somebody who knows a lot about this subject, the ranking member of the Ways and Means Committee, the gentleman from Michigan (Mr. Levin). (Mr. LEVIN asked and was given permission to revise and extend his remarks.)
