On the recordJanuary 5, 2011
I thank the Member from New York. Let me start by acknowledging two things: One, the Republican majority won the election and has the right to bring this rules package with changes to the floor. Number two, there are some good provisions in this. Mr. Walden just described several. But, three, there is a time bomb in this. The major responsibility that we have in Congress is to debate taxes and spending--taxes and spending. The provision that basically will protect privileged tax breaks so that we cannot have a debate about whether or not a hedge fund billionaire should pay at least the same rate of income tax as his or her chauffeur or cook; the fact we cannot have a debate as to whether mature and profitable industries should continue to get taxpayer subsidies, like the oil industry, instead of being able to divert them to emerging technologies; the fact that these are off the table so that the only outcome will be cuts in spending that affect every single person without any debate, that is the problem. And when Mr. McCarthy said that the rules dictate behavior, he left out that the rules dictate outcome as well.
