I thank Chairman Brady and all the members of the Ways and Means staff who have worked tirelessly in order to bring this bill forward. I can't tell you how excited I am to be here today. My friend, Mr. Larson, I notice he wears a pin with a picture of John Kennedy, one of my favorite Presidents of all time. Let me just read from a speech that President Kennedy gave on December 14, 1962. This is 55 years ago, and he gave it in an address to the Economic Club of New York. ``Our true choice is not between tax reduction, on the one hand, and the avoidance of large Federal deficits on the other. It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough revenues to balance our budget--just as it will never produce enough jobs or enough profits. `` . . . only full employment can balance the budget, and tax reduction can pave the way to that employment.…
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