Earl Pomeroy: “We want this base used, and used actively. It has a long history of playing an important role in our Nation's defense…”

Thank you. Let me just say a couple words for the record.

It is a privilege to get to hear you.

I believe that when it is a securitized issue spread around with no remote concept of insurable interest, you raise profound questions about whether or not this tax incentive ought to apply anymore.

I just want to begin, Mr. Chairman, by thanking you for this hearing and commend this panel in particular.