Political Quotes

“Mr. President, I would urge my colleagues to oppose this amendment. The amendment we just voted on and passed has an offset in there, and it is a provision that works very, very well and covers getting rid of this tax on private equity on small businesses and larger businesses in this country. And what the Senator from Virginia is proposing is an offset loss limitation. And he is right, we have voted for it. We voted for it because we put it in the tax bill in 2017 as an offset, and what it offset and paid for was the 199A deduction that benefits all our passthrough businesses, small businesses, across this country, which expires in 2026. That very offset is how we are going to pay for extending the 199A deduction for passthrough businesses in this country. So if you want to rob it and use it here, it is not going to be available when it comes time to help out those small businesses, all of whom you represent, passthrough businesses across this country. The offset, the pay-for in my amendment is the right way to do this. I urge you to oppose the amendment.”