On the recordJuly 11, 2014
Well, I am pleased to hear that my colleague on the other side actually agrees with me that we need bonus depreciation because this motion to recommit extends that policy for 2 years. The reason why I oppose this motion to recommit is because, again, this is temporary tax policy. We are the only nation in the world that allows important tax provisions to expire. We are alone on that. Nobody else does that. That is why it is so important that we make this policy permanent. Let me just say that the economy is contracting 2.9 percent in the last quarter. It is not growing. We are going the wrong direction. We have people whose real incomes are declining. People are out of work. More kids are living at home than ever before. We need to do something permanent to get this economy growing. Look, families are struggling in America. Let's do something pro- growth, something permanent. Certainly, we agree on the policy. You just don't want to do it for as long as we do. We would like to make this permanent. We have done it for 10 years, and for all practical purposes, with the uncertainty, we have agreed that the policy should be permanent. When you do it for that long, it should be. Let me just say, look, temporary policy never works.…
