On the recordJuly 12, 2011
Senator Johnson, as I recognized, is a businessman. President Clinton recently said we need to reduce our corporate tax rate. I was on a TV show with Senator Bill Nelson, my good Democratic colleague, who said we ought to reduce some of these tax expenditures, as some call them. My understanding was we could use that to help get our rates down so we are more competitive worldwide and create more jobs. I guess my question is, if you simplify the Tax Code and you eliminate gimmicks, should the money be applied, as President Clinton suggested, to reducing our rates so we are more competitive or should they be used to subsidize more spending by Washington?
