nomar tax increases to bailout washington from its debt and deficit problems. if we are going to close a loophole, the american people should get the benefit of a lower rate instead of just handing them money over to washington so he can spend more. we close a lot of loopholes, we got a lot of the junk out of the code. our plan reveals 228 sections of the tax code. we cut the size of the income tax code by roughly 25%. tax reform needs to be about strengthening the economy, making the codes blur and fairer. today we had the opportunity to make the first step forward. this is the kind of tax code the american people need and deserve. before he opened us up to questions, i want to draw your attention to a list of the major provisions in the press release. when you are talking about the entire tax code, there is a lot to go over. i want to highlight a few items on the list in addition to lowering rates, this includes simpler improved taxation of investment income. we tax long-term capital gains and dividends as normal income but exempt 40% of such income from tax,

from her stewardship as the national president of delta sigma cant ma theta -- theta sorority which i nomarshah fudge and congress -- which i know marcia fudge and congresswoman beatty are members of, dorothy led the council of negro women for 41 years. 41 years. nd more than 60 years at the w -- ywca. she dedicated her life to achieving racial quality and securing women's rights -- equality and securing women's rights. she was especially committed to empowering women and girls and worked to ensure that black women's issues were equally addressed. she was also dedicated to helping women work towards full employment, pay and education. and i remember when dr. hyde turned, i believe it was 90 years old. members of the congressional black caucus, we honored her here on capitol hill with a luncheon. and she really gave us more background and knowledge and information during that luncheon as to how those following behind her needed to really focus on the fact that, yes, when women succeed, america succeeds. and dorothy was a true leader for all women, not only in our own country, but throughout