fourth, tomorrow newbig, the national director of quantitative commission and statistics of earnst and young and the chief economists for the treasury offers of tax analysis. he leads a group of 24 quantitative analysts who assist clients with tax and economic policy issues. and finally, mr. timothy heenan, at prax air, the largest provider of gases in north and south america. he joined in 2004 from earnst and young specializing in the development and implementation of international tax strategies. thank you all very much for your time and the committee has received each of your written statements and they'll be made part of the formal hearing record. each of you will be recognized for five minutes for your oral remarks, followed by questions. so mr. fritt, we'll begin with you. you're recognized for five minutes. >> good morning. chairman camp, ranking member levin and members of the committee, i very much appreciate this opportunity appear before you today to discuss the importance of tax reform to fedex. we believe reducing the u.s. corporate tax rate significantly to be more in lin

newbig, do you have a comment? >> again, i think this is another example of where oftentimes the economists don't give lower corporate tax rates the full benefit that would happen if there was a broader base and lower corporate tax rate. uncertainty, complexity, and how lower corporate tax rates affect business decisions is really very powerful. when people talk about the bang for the buck in terms of, you know, a lower corporate tax rate, sometimes they worry about lower corporate tax rate applying to old up capital. i think they really are missing so much of the power of a lower corporate tax rate that would also be simpler and more predictable. >> thank you, mr. chairman. if i may make one final comment, since there are very few of us, what i it continue to think about as i look at the complexity and the cost of the business, i think about the service -- the cost of the service or product is raised because of this complexity and how ultimately it's the end user that has the costs borne. thank you, thank you, mr.