Bob Kerrey: “I respectfully disagree. I don't think we will just get one bite of the apple. I believe Majority Leader Lott and the…”

“I respectfully disagree. I don't think we will just get one bite of the apple. I believe Majority Leader Lott and the Speaker are committed to going further. Both of them have talked especially about the need to simplify the Tax Code. I would be surprised if either one of them would object to some of the additional things that Chairman Roth has indicated that he wants to address. I just say very respectfully on behalf of the taxpayers who are not going to have an agency that is managed well, this is not just a public board. Title I does change the way that oversight occurs, both on the legislative and on the executive side. There is no question that that change is important. But I believe that the most important piece of this legislation is giving the Commissioner the authority under the law to manage the agency. That is the most important thing that is missing today. Second, I think it is not a small item to say that for the first time, the American people will have an agency that will be required under the law to provide them the audit standards.”