OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Section 3112 of S. Con. Res. 11

Floor Speech

By: Ron Wyden
By: Ron Wyden
Date: June 11, 2015
Location: Washington, DC
Issues: Taxes

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Mr. WYDEN. Mr. President, I share the concern of my colleague, the Finance Committee chairman, and I support his interpretation of this provision. In accordance with longstanding historical practice, and because of important practical considerations, the chair and vice chair of the Joint Committee on Taxation should exercise principal control over the revenue estimating process, and section 3112 should not be interpreted to authorize the chairs of the Budget Committees to interfere with JCT's responsibility for and control over revenue estimates in any part of the congressional budget process.

However, I must note that on the broader point of dynamic estimates, I am opposed, and I was therefore opposed to section 3112 being included in the budget resolution and conference agreement to start with. Dynamic estimates rely on shaky math and convenient assumptions that reward advocates of tax cuts while punishing advocates of long-term investments in people and our Nation's infrastructure.

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