John Cornyn: “my amendment creates a 60-vote point of order against any legislation that raises income taxes on taxpayers. Now, I have…”

“my amendment creates a 60-vote point of order against any legislation that raises income taxes on taxpayers. Now, I have served on the Budget Committee, and we have had discussions during the course of marking up this budget resolution in the committee. The chairman tells me it is not his intention for this budget to reflect a tax rate increase. I say good for him and good for us if that, in fact, is true. The problem is that this budget, over the next 5 years, contemplates a $146 billion increase in discretionary spending. That money has to come from somewhere. Unfortunately, during the committee's debate on this budget, I offered this amendment, but it was opposed. I am told the chairman may have some different views today after additional clarification and explanation. We will see. But let me make sure it is clear that this amendment will not hinder our efforts to shut down and close illegal tax shelters or perceived loopholes in the IRS Code. This amendment deals with the tax tables contained in the 1040 form that the IRS annually sends to every taxpayer. It will not--let me be clear--it will not hinder efforts to reform or overhaul the Tax Code. Any tax simplification effort will need bipartisan support in the Senate, and if it is revenue neutral, I am confident it will be forthcoming.”