I want to first of all pay a very high tribute to the gentleman from Texas [Mr. Archer]. Most of my lifetime as a young man and then entering the Congress, still as a young man, I was very frustrated as I heard a lot of rhetoric from many of my colleagues about the fact that we had passed out so many tax breaks to all these big corporations. I come to find out that the minority party basically controlled the Committee on Ways and Means for 40 years, and they passed out all these loopholes to all these big corporations. So out of one side I heard people saying, I do not like the fact that big business is getting all these benefits, and it is an outrage, and at the other side of their mouth, or the other side of their body, they were passing out the tax breaks. Mr. Speaker, I had said at the beginning of the last session of the Congress to Chairman Archer, we need to close loopholes.
Editor's note · Context
Discussing tax breaks for corporations and the need to close loopholes in the Tax Code.
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