Orrin Hatch: “I am grateful that I was a conferee in this monumental historic event. I personally congratulate Chairman Grassley and…”

“I am grateful that I was a conferee in this monumental historic event. I personally congratulate Chairman Grassley and the ranking member, Senator Baucus. Both worked very well together. Of course, Chairman Thomas and House Leader Armey and Speaker Hastert did a terrific job, as did John Breaux, who has worked so magnificently through the years. Six months ago nobody thought the President would win on a $1.35 trillion tax cut. It is amazing. He hung in there. He stood for what he believed, and I believe the American people are going to be the beneficiaries. I want to highlight one thing. There are 16 million additional children who directly benefit from the refundable child credit contained in this comprise. This is one of the best bills for children and families I have seen in years and I just wanted to make that clear to everybody. The rate reductions and every other provision will benefit America. This conference report is not perfect, just as no political compromise is perfect. I, like many of our colleagues, would have greatly preferred a larger tax cut of at least $1.6 trillion. Ideally, the top marginal rate should have come down to no more than 33 percent, with corresponding reductions in all the other brackets. The alternative minimum tax still will afflict millions of Americans. And, I greatly regret that the permanent extension of the research and experimentation credit was not accommodated in the final product.”