Senator David Perdue Talks Tax On CNBC
“The only reason we're doing the budget like this, 18 days after the beginning of our fiscal year, is to get tax done this year.”
WASHINGTON, D.C. – U.S. Senator David Perdue (R-GA) spoke with Joe Kernen on CNBC’s Squawk Box about why the budget process is a sham and should be viewed as merely a way to fix our tax code this year.
Click here to watch or click on the image below.
A Total Sham: “Let's be very clear. This budget is a sham. It's a fraud that’s been perpetrated for the last 43 years since the Budget Act of 1974. The only reason we're doing the budget like this, 18 days after the beginning of our fiscal year, is to get tax done this year.”
Budget Is Not A Law: “This is a resolution. It has nothing to do with how we'll fund the government. Congress already passed a short-term spending deal that got us past the end of the fiscal year. Sometime between now and December 8th, six people will get in a room and decide how to spend over $1 trillion, and the rest of us will get an up or down vote on that.”
Getting To Tax: “I’m very confident we’ll get this budget done because the only reason we’re doing it this way is to get to the tax deal, which all of us are anxious to pass.”
Making America More Competitive: “Consumer confidence is at a 16-year high and over 800 regulations have already been reversed this year. Now we have the anticipation of passing this tax deal that will actually help our corporations and our workers become competitive with the rest of the world again.”
Funding The Military: “My argument is if you want to fund the military long-term, you better solve the debt crisis. To solve the debt crisis, we have to get after our budget process. If you really want to solve our funding issues, you better get the economy going, and the economy will move if we get this tax deal done. It's just as simple as that.”
Helping American Workers: “We’ve got to lower the corporate tax rate, which is an onerous tax on American workers. It puts our workers at a disadvantage with the rest of the world. In 1986, the last time Congress took any measured change in the tax law, we had one of the lowest corporate tax rates in the world. Today we have the highest in the OECD. We are also one of the last countries to have a repatriation tax. There are also some $2 trillion of U.S. profits stuck overseas. Fixing those things alone will stimulate this economy.”
Senator Perdue is the only Fortune 500 CEO in Congress and is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget, and Agriculture Committees.
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