Political Quotes

“I come to the floor today to talk about the significant uncertainty surrounding sequestration and its threat to our economy. The Congressional Budget Office forecasted that the pending fiscal cliff facing this country; that is, the scheduled tax increases and across-the-board spending cuts that will result from the expiration of current tax policy and the enactment of sequestration, could lead to recession. In fact, the Congressional Budget Office said repeatedly that if the tax increases and sequestration occur at the end of this year, there will be a 1.3-percent economic contraction during the first quarter of 2013. I believe that would argue for extending the existing tax rates. I think the uncertainty associated with the tax rates perhaps expiring at the end of the year and businesses not knowing what is going to happen is creating a real problem and a real cloud out there in the economy. I believe it is important that there be economic certainty for people in this country, particularly for investors and small businesses. So it seems to me, at least, that getting those tax rates extended would be a very important part of the solution. Having said that, I also believe we need tax reform for this country. We need comprehensive tax reform that will fuel economic growth.…”