Max Baucus: “I am going to have to oppose this amendment offered by the Senator from California, Mrs. Boxer, and I would like to take…”

“I am going to have to oppose this amendment offered by the Senator from California, Mrs. Boxer, and I would like to take a moment to explain why. The spending proposed by the amendment is for a good purpose. We can and should find ways to fund this important goal. But I do not believe that we need to roll back tax relief that Congress enacted in 2001 to fund this amendment. I supported those 2001 tax cuts. Congress enacted them in a time of massive surpluses. Returning some of those surpluses to the taxpayer was the right thing to do. We can find other offsets to pay for the spending in this amendment. Offsets such as the closing of corporate tax shelters currently pending in the JOBS bill come readily to mind. Before we start rolling back the tax relief that we enacted in 2001, we should ensure that we have taken all reasonable steps to obtain revenues through closing down abusive tax shelters. And so, I shall reluctantly oppose this amendment, as I did the amendment offered by the Democratic leader, Mr. Daschle, the day before yesterday increasing veterans' funding--and for the same reason. I shall look forward to working with my colleagues to find other offsets for their amendments--offsets that as much as possible avoid rolling back the tax relief that we enacted in 2001.”