Political Quotes

“I am afraid we are getting into the area of everything having been said about this bill but not everybody having said it. Nonetheless I think it is important to reflect and realize that this action that was taken last year by the House was done at the end of the session, with a lot of unfinished work poured into one huge package, and I am afraid we are going to do that again today. It was thought to end abusive practices within the code as it relates to businesses with accrual accounting and installment sales and to actually pay for the ticket to work which was a smaller part of a broader welfare reform bill, that this was a desirable change in the code. After it was discovered by almost everyone connected with it, it was quickly realized that this covered far more than those abusive practices that were being closed to pay for the ticket to work, and so the gentleman from California (Mr. Herger) and others, myself and others, put a bill in, H.R. 3594, some time ago. I am glad we are getting this done. This is truly, I think by anyone's definition, the law of unintended consequences at work. It demands that one who has an accrual basis of accounting in one's business when one sells it to report all of the income at the time of the sale when one has, as Members know under accrual accounting, a right to the income. This makes no sense, as the gentleman from Maryland (Mr.…”