Political Quotes

“I thank the distinguished chairman, Mr. Neal, for yielding time and for leading this important legislation. I also thank him for the opportunity to serve on this important committee. I also thank the ranking member for always showing respect in our deliberations. All the best to you in your future deliberations. Madam Speaker, I rise today in support of H.R. 9640, the Presidential Tax Filings and Audit Transparency Act of 2022. As the chair has said, since 1977, the IRS adopted a policy of conducting mandatory audits on the President while they are in office as a check on their power. Disturbingly, our committee found that the IRS had all but given up and ceased this program under the previous administration. As our colleagues on the other side of the aisle have chipped away at the funding for the IRS, their talent pool has shrunk. They have been unable to retain the kind of tax and financial experts that are actually needed to review the complex tax returns of some of the wealthiest. Meanwhile, those on the lower income spectrum, especially those with children who claim the earned income tax credit, are more likely to be audited. In fact, in reports from our committee, five times more likely to be audited are those individuals on the low-income spectrum than the most wealthy. The evidence is clear: Congress must step in. This is why this legislation must be passed.…”