mr. van hollen. >> thank you, mr. chairman. i want to briefly turn to the question of pass-through entities because a lot of people have described these pass-through entities as if they were all small businesses. i would just like to read from your testimony before the senate finance committee july 14, 2010, where you say the staff of the joint committee on taxation estimates in 2011, just under 750,000 tax payers with net positive business income, 3% of all taxpayers with net positive business income would have marginal rates the fell about 250,000. is that correct? >> if you're reading from something. >> i just want to make sure that fact remains true. you have this important caveat in your testimony. the figures for net positive business income do not imply of income is to entities that might be considered small in quotations. for example, in 2512 dozen 62 as corporations and 12,006 mpt partnerships have received more than $50 million. now my point here isn't that these are good businesses. we should get over this conversati

mr. van hollen. >> thank you, mr. chairman.to briefly turn to the question of pass-through entities because a lot of people have described these pass-through entities as if they were all small businesses. i would just like to read from your testimony before the senate finance committee july 14, 2010, where you say the staff of the joint committee on taxation estimates in 2011, just under 750,000 tax payers with net positive business income, 3% of all taxpayers with net positive business income would have marginal rates the fell about 250,000. is that correct? >> if you're reading from something. >> i just want to make sure that fact remains true. you have this important caveat in your testimony. the figures for net positive business income do not imply of income is to entities that might be considered small in quotations. for example, in 2512 dozen 62 as corporations and 12,006 mpt partnerships have received more than $50 million. now my point here isn't that these are good businesses. we should get over this conversation and a

mr. van hollen spoke about. so not only do i not think he's going to make it more difficult, i think the president showed over the last six months as we dealt with the debt icks tension and deficit -- debt extension and deficit reduction and fiscal responsibility how close he was to that. i think frankly congress, republicans and democrats have a real ally in the president of the united states in moving towards a fiscally responsible outcome of this special committee and the vote hopefully which will occur in december. >> last question. >> the president this week is expected to roll out his jobs plan. [inaudible] result in more spending. i'm just wondering what's the solution? >> i think it's a message that the president will be taking to the american people. it's a way to not only create jobs but to strengthen, again, our infrastructure. whether it's our water supply, brought to you by, it's not just -- broadband, it's not just roads and bridges. as mr. clyburn talked about, it's about home star and rural star

mr. van hollen and i met adding max baucus and mr. china urn. having gone there all that, a dose of realism is required here. this is tedious time-consuming work. we have had a lot of hearings in both the house and senate. it is time i think for us to get down to the hard decisions that are required to go through those line by line items. as chairman murray point out time is short as well, which complicates our job. not only must we act by november 23rd, but we have to have anything we would make public 48 hours in advance. the c.b.o. most score everything and that could take weeks based on some of the things we have to do. the reality is we have to act by sometime -- by the end of october, realistically, which means we have about six weeks to construct our package. it is a long way of saying that we are only going to succeed if we can avoid partisanship and try to limit the demands on the committee as well as the staff so that we can collectively work to achieve this goal. the more demand made on this committee and its membership, the more chal

mr. van hollen, and the gentle woman from new york, miss opal. >> the president appoints the following senatorsrt of the senate to escort the president of the united states into the house chamber. the senator from nevada, mr. reid. the senator from illinois, mr. durbin. the senator from new york -- >> they're introducing the delegation that's going to escort the president of the united states, the leaders of the senate, the leaders of the house, democrats and republicans. they will bring the president in. he'll be obviously warmly received, and then he'll deliver his remarks, some of which won't necessarily be warmly received especially by the republicans in the house of representatives and the senate. gloria, i interrupted you, but go ahead, finish your point. >> well, you asked about john boehner's relationship with the president. i think they do have a warm relationship, but when i talked to senior advisers at the white house, it really seems to be a sense, wolf, that john boehner is a captive of the freshmen in his caucus, the tea party republicans, if you will. and that there are many time

mr. van hollen. we did a coal collation like that in the past couple years, but the enactment of expensing, which changes the business cash flow over a ten year period in which we measured this, changes that calculation, so i'll get a new calculation. >> that would be helpful to sort through this because if we wanted to do this say within the corporate tax code, we have to look at which tax expenditures we thought we should prune or eliminate in the process. let me just go back, circle back to a question that's been asked of you in different ways, but with respect to scoring, and you mentioned the house rules and i've looked at some of the analysis that you have done with respect to taking into account the gdp effects, and as i understand your analysis, one of the reasons you might be reluctant to include a set rule within the score is that they take into account so many different factors in the economy, what decisions the fed makes, whether or not deficits, you know, the cost of the tax cut is offse

mr. van hollen, from a district which her super federal employees and contractors who have a vested interestkeeping federal expenditure is high. this is the kind of stuff that we get from democratic party, and there disgusting. guest: i understand where the caller is coming from. the payroll tax has been something that has been supported over time, a reduction by the parties, not exclusively democratic. the social security has been demagogued as long as i have been around this town by both parties. i have been around a long time. i do not think anyone has an exclusive -- right now it seemed to be more with the democrats against the republicans trying to do something to it. but these are long-term issues. they have been around almost longer than i have. the positions are gradually shifting, not the monopoly of any one party. guest: let me add to that. if you're concerned that districts -- democrats who represent is such -- districts to pay less income tax, you'd be right. that is how congress operates. people are going to represent their constituents. i think that we would be unrealistic if w

mr. van hollen, who are going to participate in the debt reduction committee.hout any reference the taxes increasing, therefore bringing down the deficit. i believe very strongly that this committee must be successful. if it is successful, i think it will grow confidence in the private sector, and it will grow confidence in the international community, that american in fact can meet its challenges and make them successful. i hope all my colleagues, on either side of the aisle, and i know my three colleagues on the committee will see that end. so let me now yield to the assistant leader of our party, mr. jim clyburn, to discuss and researcher and how we growth that and grow jobs in america. >> thank you, mr. whip. for those of you who have visited charleston, south carolina, in recent years," you probably have seen a magnificent new bridge. it is a talking point up and down the east coast. that bridge was made possible by a state infrastructure bank. the money is gathered by that bank and was leverage to secure a loan. it is a man of isn't structured, but in add

van hollen. >> thank you, mr. chairman. i ask unanimous consent to give our colleague, mr. kemp, a brief opportunity to complete his remarks. -- mr. camp, a brief opportunity to complete his remarks. >> i appreciate his sentiment and will yield back. >> i join my colleagues in recognizing we have a big responsibility to the american people, a responsibility to meet the twin challenges of doing everything in our power to put americans back to work and put america on a steady, predictable path to deficit and debt reduction. these are not competing goals. the overlap. every day the economy is stalled is another day the american people are hurting at another date that the deficit is growing. the quickest, most effective way to reduce the deficit in the short term is to help grow jobs. indeed, the nonpartisan congressional budget office has rejected for each 1/10 of 1%, we reduce the deficit. the biggest obstacle to economic growth is weak consumer demand. it is simple, businesses are not going to hire employees unless they have customers for their goods and services. i know the

van hollen. >> thank you madam chairman and to pick up on mr. becerra's question because we have heard a lot about the double taxation of capital gains, but isn't it true that there are many assets that get the preferred 15% capital gains rate that are not subject to another layer of taxation? real estate, commodities, s corporations? isn't that true? >> yes, i made that point briefly. mr. camp was discussing that. >> do you have any idea how that compares in magnitude to the overlapping? >> off the top of my head i don't. our staff has looked at that and i can, i can report back to the committee on, what the irs creates a sale of capital asset files where we get detailed information on what sort of assets do people realize in reporting capital gains. we will run some tabulations on the silko file and i will make that available to the members of the joint select committee. >> thank you mr. barthold. >> thank you very much. i want to thank the witness today for participating and all of our members who were here today as well. i remind all of our

van hollen. >> before i make a few remarks, i ask unanimous consent to give our colleague, mr. camp, a brief opportunity to complete his remarks. >> without objection. >> i appreciate the gentleman sentiment. i do not think it is going to be necessary. i will post them on line. i appreciate very much the sentiment and i will yield back. >> the gentleman from maryland is recognized. >> thank you, mr. chairman. i join my colleagues here today in recognizing we have a big responsibility to the american people, a responsibility to meet the twin challenges of doing everything in our power to put americans back to work and put america on a steady, predictable path to deficit and debt reduction. these are not competing goals. they overlap. every day that the economy has stalled is another day that the american people are hurting and another day the deficit is growing. the quickest and most effective way to reduce the deficit in the short term is to help grow jobs. indeed, the nonpartisan congressional budget office has rejected the offer at each one- tenth of 1% increase in gdp over t