Thomas Daschle: “let me commend the Senator for offering this amendment and for his comments. I associate myself with his remarks. It is…”

“let me commend the Senator for offering this amendment and for his comments. I associate myself with his remarks. It is, really, an amazing fact, given the extraordinary difficulties we in the Senate and Congress continue to face with regard to ratcheting down the deficit we have experienced over many years, that so few of us have a complete appreciation of the cost of tax expenditures year in and year out. In fact, it is difficult for us to acquire the numbers. According to numbers I have been given, we had over $375 billion in tax expenditures for 1992 alone. We do not know what the figures are for 1994, and that is the point. If indeed we are serious about bringing this deficit under control, if we are truly serious about looking at all the means by which we can accomplish that in the balanced and fair manner we all seek, certainly taking the approach in this resolution is essential. I think there are at least four things this approach would achieve. First, it would provide accountability. Incorporating tax expenditures into our budget process in this manner would force accountability on this kind of spending like it does on other forms of spending. Second, prioritization. There are many very good tax expenditures, ones I strongly support. Others are certainly worthy of additional scrutiny and debate about whether it is in the national interest to maintain them as a permanent part of the Tax Code. Third, balance.…”