HEARING OF THE HOUSE WAYS AND MEANS COMMITTEE
SUBJECT: FAIR AND EQUITABLE TAX POLICY FOR AMERICA'S WORKING FAMILIES
REP. KENNY HULSHOF (R-MO): Thank you, Mr. Chairman. I was an economics major in college, not -- did not do well in geography, and I am not sure, maybe someone here knows what point on planet Earth is exactly the opposite of Washington, DC. But I am convinced after listening to some of my colleagues that we are that far apart on economics, that there are some of us here in Washington, and there are some of others on the other side of planet Earth as far as what to do about this economy.
I appreciate my friend, and he is my friend from Massachusetts, referencing the history, Chairman Mills, creation of the AMT. I lament the fact that in 1999 the President of the United States had the opportunity to completely and finally eliminate the Alternative Minimum Tax, and yet vetoed that bill. I wish we had had a bipartisan solution back then.
Let me pick some of the points that you all have made in the time that I have. Dr. Holtz-Eakin, it's great to have you back. You indicated that tax policy has little impact on income inequality. I think you have been asked that, and you would acknowledge that again for the record, would you not?
BREAK IN TRANSCRIPT