Political Quotes

“I commend the distinguished Senator from New Jersey for offering this very worthwhile amendment. We held hearings in the Senate Budget Committee last year on the whole question of tax expenditures and how very costly many of these tax expenditures are. The Senator from New Jersey, I think, has put his finger on the problem. Many of these so-called tax expenditures, or tax breaks, or tax incentives--however you wish to describe them--become embedded in the Tax Code. They are subject to little or no review. And they continue there year after year. Many times we find there was a good and rational public policy reason for putting these tax incentives or tax expenditures into the Tax Code, but that good, sound, public policy reason will expire over a period of time. Yet it still remains in the Tax Code, subject to no review and, frankly, costing the Treasury billions and billions and billions of dollars every year. So I commend the Senator from New Jersey who has waged this battle all alone for a number of years.”