Ron Wyden actually said...

"the cost recovery legislation proposed by current Finance Committee Ranking Member Wyden on April 26, 2016, would leave the depreciation of multifamily property at 27.5 years."

"I see an enormous opportunity to modernize the code and strip out a lot of that unfairness by radically simplifying our system of depreciation."

"If you own a small business today, you're in danger of being ensnared in an outdated, overgrown tax code that Americans spend 6.1 billion hours and more than $100 billion complying with each year."

"We thank Chairman Orrin Hatch and Ranking Member Ron Wyden for holding this hearing."