Joe Barton: “I wanted to focus on this, the majority argument that you were speaking of, but before I do that I want to directly…”

“I wanted to focus on this, the majority argument that you were speaking of, but before I do that I want to directly answer the question on de minimis. It is our intent that de minimis is equal or less, and in an economy that is $6 trillion, if you want to put a figure on it, in the implementation language and in the colloquy that we will have with the chairman of the Ways and Means Committee later this evening, we are going to say de minimis is one-tenth of 1 percent or less. So that is the number, but de minimis is defined as negligible, or minimal, or having little or no value.”