On the recordMay 14, 2014
the Senate is now debating the EXPIRE Act. This is bipartisan legislation. I again thank the distinguished Senator from Utah Mr. Hatch. He has been so constructive in trying to build a bipartisan piece of legislation, a bill that came out of the Senate Finance Committee several weeks ago with very substantial bipartisan support. It really is designed to deal with a number of tax provisions that are temporary in nature and it, in effect, extends those temporary tax provisions until the end of 2015. In consultation with the distinguished Senator from Utah, I thought it was important to call this bill the EXPIRE Act. It was important because this legislation actually does expire after 2 years. It, in effect, says--and I said--on my watch as chair of the Senate Finance Committee there will not be another extenders bill. It is not going to happen on my watch. This is it. In effect, by extending these important provisions now for one last time, the Congress can give itself and the Finance Committee--on a bipartisan basis--the space that is needed to take on the challenge of comprehensive tax reform. It is not going to be easy, but it is absolutely imperative for the future of the American economy. I know it can be done. I know we can get Senators of both political parties together and build a bipartisan tax reform plan. I know this because I have--and other Senators do as well--a fair amount of sweat equity in this cause.…





