van hollen raised and mr. crapo raised as well. we can dispose the issue of the social security trust fund at the same time. >> i heard his comment. we are trying to stay focused on the issues right now. because of that, i don't feel a need to give a long speech. obviously being from michigan, i understand the importance of unemployment insurance. i hear that we see broad agreeme agreement. i would like to move forward and address the next issue. the issue of unemployment. >> mr. chairman. it is only fair. we are all in agreement. both sides. both bodies. ten more months for the payroll tax for the end of the year. i think in the air, there is a sense that will need to be paid for. >> yes. >> but that raises the next question. will we find enough money that we can agree on to pay for it? i think you appropriately said that it is an issue we will deal with a little later. work on the substance first. if we cannot agree how to pay for it or to the degree we cannot, we may have to look at other options on the payroll tax. that is mayb

van hull and raises -- mr. crapo races, we can dispose of the issue of whether or not we are doing anything to endanger the trust fund to social security at the same time. >> we are really trying to keep narrowly focused on the issues before us right now. on that issue, because of that, i don't feel the need to give a long speech. being from michigan, i understand the importance of unemployment insurance, but i am hearing that we really do see pretty broad agreement on that. without objection, i would like to move forward and address the next issue we have at hand, which is unemployment insurance. >> it is only fair to say yes, we are all in agreement on both sides, both bodies, 10 more months, the payroll tax, the end of this year. there is a sense that will have to be paid for, but that raises the next question. or going to find enough money that we can agree on to pay for it. i want to point out that it cannot agree -- if we cannot agree, or to the degree that we cannot, we may have to look at other options and th

crapo. >> thank you, mr. chairman. i want to go back to something that was brought up here. it is not time yet to start controlling the spending side of the equation. we still need to stimulate the economy. we need to keep the government spending going to generate jobs. the two-step approach that the chairman mentioned and you have confirmed is the approach taken by the budget. i have a concern about that. as you know, i'm sure i served on the president's commission on the bowles-simpson commission. that adodopted the same two-ste approach in 2010. we agreed in the commission report that we would delay the caps on spending and the spending restraints for a year or two to allow for the stimulus on the impact on the economy that was claimed to be needed. the concern i have that it's now time to prepare the 2012 budget. we still hear that it's not time yet for us to begin the austerity part, but we still need to engage in the spending side. we are not there. my question rhetorically, when will we ever get to step two? the question i want to ask you is about this budget. i have

crapo. >> thank you, mr. chairman. i will try to be briefed. this hopefully is one of the provisions that we will be able to develop early and strong support and a consensus. a number of times during the past decade, congress has responded to difficult economic times by allowing capital formation to be given a strong boost through changing the depreciation provisions in our tax code, allowing small businesses and businesses to depreciate on a more rapid basis of their investments in equipment and machinery that will enable them not only to maintain their production but to grow and develop more jobs. just as a reminder, the current law developed during the december 2010 compromises enacted 100% bonus depreciation for the year 2011 and a 50% bonus depreciation for 2012. what the house bill does which is what i am supporting and hopefully we reach agreement on is to extend that bonus depreciation through the entire year of 2012. as you have indicated, this is something that the president has proposed in his american jobs at. although the senate bi