And the effect of this, of course, all else being equal, is it keeps Federal marginal rates higher than they would otherwise be if we had a different treatment.

The fact is, the top 10 percent of income earners earn 47 percent of the income in America and pay 71 percent of all the taxes.

I think we have all agreed that we would like for tax reform to provide tax relief for working-class and middle-income families.

In my view, we ought to have a very pro-growth tax code that is going to encourage an economic expansion, and if, along the way, a relatively wealthy person manages to benefit from that, I, for one, am not going to lose any sleep at all.

We have an extremely progressive tax code, and it is going to remain a very progressive tax code.

If you lower marginal rates, you change incentives. You increase the incentives to work, to save, to invest.

I do not see a huge amount of that going forward.

I think that is a waste of money.

I am worried less by a specific bill that is under consideration now than by what I see as a broader trend to try to shift that balance decisively in a way to constrain executive branch discretion.

I think that is a very sensible balance and maintains a lot of discretion for the President, while involving Congress in the decision making.

Senator Van Hollen and I have decided to pursue the BRINK Act legislation that would impose tough secondary sanctions.

Is there agreement that such secondary sanctions would impose significant new pressure on the regime?