Dave Camp: “I appreciate at least hearing some of the new-found fiscal responsibility from my friends on the other side, since the…”

“I appreciate at least hearing some of the new-found fiscal responsibility from my friends on the other side, since the Obama administration has come into office with help from Democrats on the other side of the aisle who increased the debt by $5 trillion, with a ``t.'' Let me just comment on this substitute. It's not that the bonus depreciation in this legislation doesn't go far enough. It's that it doesn't provide bonus depreciation. It does limit the bill based on the concept of bonus depreciation, but this bill has been analyzed by the Joint Committee on Taxation. Rather than providing the $46 billion of tax relief, this bill only provides a small fraction of that, 6 percent. Under the underlying legislation, millions of small businesses would be able to make investments, be able to buy equipment, would be able to hire workers. This substitute guts the bill and will result in no economic impact in this country. I would urge a ``no'' vote on the substitute. I would urge support for the underlying bill, and I yield back the balance of my time. Announcement by the Speaker Pro Tempore The SPEAKER pro tempore. The Chair would note that it is not in order during debate to refer to persons on the floor of the House as guests of the House. Pursuant to the rule, the previous question is ordered on the bill, as amended, and on the amendment offered by the gentleman from Michigan (Mr. Levin).…”