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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