On the recordJanuary 9, 2018
I think that is exactly right. The gentleman's concerns and suspicions are well-founded based upon the approach that was taken by this Congress on the other side of the aisle in connection with the tax bill. So the individual tax cuts, to the extent that there are any that will be felt by the American people, are modest; the corporate tax cuts are massive. The individual tax cuts are temporary; the corporate tax cuts are permanent. The ability of individuals to take a State and local tax deduction has been decimated; the ability of corporations to use the State and local tax deduction on their corporate tax return is untouched. The moving expense deduction for individuals has been eliminated, but corporations can continue to take moving expense deductions for closing down a factory or a plant here in America and shipping those good- paying American jobs overseas to China, India, or other parts of the world.
