John Ensign: “What their studies are showing today, as they showed before we acted in 2004, is that money is going to come back. The…”

“What their studies are showing today, as they showed before we acted in 2004, is that money is going to come back. The Treasury actually will be helped. Jobs will be created in the United States. And a side benefit is $565 billion comes into the banks in the United States to help capitalize the banks. What are we all talking about here? That our banks don't have enough capital. This, without a cost to the taxpayer, brings capital back. But in the wisdom of Joint Tax, they actually say that this bill is going to cost money, that it is going to decrease revenues to the Federal Government, where all the evidence by outside economists as well as all the evidence by history shows otherwise. Look at this. Every year money being repatriated to the United States, pretty consistent down here, below $50 billion was brought back in each year. Guess what. We passed the Invest in USA Act in 2004. Repatriation shot up to $360 billion. Look what happened the next year. It went right back down, and it has been down since.”