I think it is also unfortunate that when you take a look at our current budget situation, the enormous pressure we are under, most Americans take a look at foreign aid and that is the first place they want to cut.

we need to deter Vladimir Putin, and we need to do that in a very forthright and resolved way.

I think from an LNG export policy standpoint... the United States should reexamine our existing policy and laws on energy exports.

I think we need full authorities in the IG Act because many times--and it happens to us at Ex-Im Bank--you are looking at a transaction in an audit and you find fraud.

I think you are exactly the kind of folks we ought to be talking to in depth, in detail.

So if there is a problem, there is a defect in the manufacturing process, you can trace back exactly where that happened.

But it is going to be pretty important to find out who was responsible for overriding the quality system to change that part.

That is really just a total violation of a total quality management system, correct?

So, basically, what the conclusion would be is that process, that procedure, that computer system was purposefully overridden.

And the only reason anybody would make sure in a total quality management system that a part number didn't change would be to hide the fact that that part changed for some reason, correct?

Thank you, Madam Chair.

There is nothing nefarious in trying to minimize that tax burden?

Do you think this is basically what accountants do in working with their clients to comply with the tax code?

So we can change that law, we can change that reality, and then companies like Caterpillar will start manufacturing overseas.

It is really important that we have a tax code that allows us to compete fairly in the global marketplace.

In multinationals, that is a pretty high effective tax rate, correct?

Being relatively new to this process here, not having been watching it for decades, this gets confusing very quickly.

They are paying 29 percent effective rate, are they not?

I kind of view--and this is just my assumption, that CSARL in Geneva is kind of a headquarters, with a limited headcount.

Do you feel that Caterpillar is at a competitive disadvantage because of the U.S. tax system?

Let us keep American companies American. Let us try and incentivize investment of global companies into America.

If Caterpillar is doing something wrong, the proper venue would be a court of law, tax court, and have the IRS adjudicate this thing, not Congress.

Which probably, if we do this, would be exactly what large corporations like Caterpillar would do.

Why don't we lower the corporate income tax if we want businesses to stay here?

I just think it is extremely important for people to understand really how our tax code operates.