Mr. Speaker, just in case anybody believes any of those figures that were mentioned by the gentlewoman from California (Ms. Pelosi), the Joint Committee on Taxation places a $185 billion price tag on the bipartisan H.R. 8 proposal. The Democrat substitute costs $160 billion over 10 years to just reduce the death tax. They do immediately repeal the State estate tax credit, an immediate hit on the States of $122 billion, which produces the net that the gentlewoman mentioned.
David Thomas: “Mr. Speaker, just in case anybody believes any of those figures that were mentioned by the gentlewoman from California…”
Editor's note · Context
Discussing the financial implications of tax proposals during a House floor debate.
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That is boilerplate language that is used. This is something that we do virtually every year because there are always accounting errors, and this allows for the correcting of the accounting errors.
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