>> senator wyden, that's an excellent summary. i believe quite strongly that the corporate rate is too high. i also believe, frankly, that too much attention has been paid to the plea of multinational firms for a territorial system which would, in fact, work for technical reasons to erode the domestic corporate base even further. domestic firms have been sort of left out in this discussion. the right approach is to lower the rate on domestic business operations, to attract jobs, to attract inbound capital, more jobs as a result of that and then to offer multinational firms a fair system in respect of their international operations. but when you look at the tax rates in oced countries where they actually operate, where the large economies are, those rates are still in the high 20s at the moment. and so if we were to offer u.s. firms a worldwide rate in the mid-20s, we would be smack dab in the middle of where the oecd -- the g7 major economies are today with respect to their mainly income. we have this tendency to throw in state an

wyden: mr. president? the presiding officer: the senator from oregon. mr. wyden: mr. president, under the leadership of chairman baucus, i have the honor of chairing the senate finance subcommittee on international trade. and that's why i wanted to take just a few minutes, mr. president, to outline some of the issues that i think are relevant to this important debate by going to bat for workers under the trade adjustment program. now, in my home state, mr. president, about one out of six jobs depends on international trade. the trade jobs tend to pay better than do the nontrade jobs. and so what i said is my philosophy about international trade is what we ought to do is everything possible to grow things in oregon and in the country, to make things in oregon and across america, add value to them here and ship them somewhere, because this is an extraordinary opportunity we have in front of us in terms of expanding exports. the fact of the matter is, mr. president, that the american brand, the bra

wyden: madam president, i yield the floor at this time. the presiding officer: the senator from south dakota. mr. thune: i just wanted to say i appreciate the senator from oregon, and he and i have worked together on a number of issues, not the least of which is some of these trade issues and i look forward to continuing that collaboration. i do believe the senator from oregon is someone who really understands the value of opening up export opportunities for american businesses, and has worked and advocated on their behalf in his time here in the senate. i think the senator would understand the frustration, perhaps felt by him and others, that these things have languished so long. i understand the issue of trade adjustment assistance is very important to him and many other members on his side of the aisle, as well as to some on our side, but it strikes me at least that could have been at this a lot sooner, and not have relinquished and given up so many of the lost market opportunities i mentioned in my remarks and it certainly impacts in a

wyden: mr. president, let me, before he leaves the floor -- the presiding officer: the senator from oregon is recognized. mr. wyden: thank you, mr. president. before he leaves the floor, let me thank senator leahy for those kind and gracious thoughts. i know senator hatfield was very fond of you as well. you have, i think, represented his values very well today, and i thank you for those remarks. mr. leahy: i would ask that my remarks follow the two senators from oregon. the presiding officer: without objection. mr. wyden: mr. president? mr. president? the presiding officer: the senator from oregon. mr. wyden: mr. president, my home state of oregon has many towering and majestic places, such as our iconic mt. hood and our beautiful state tree, the douglas fir. senator mark o. hatfield, who passed away on august 7, stood head and shoulders above all of them. last night the senate passed senate resolution 257, a resolution in respect of the memory of senator hatfield. this afternoon senator merkle

>> senator wyden, that is an excellent summary.gly that the corporate rate is too high. i also believe, frankly, that too much attention has been paid to the plea of multinational firms for a territorial system which would, in fact, work for technical reasons to erode the domestic corporate base even further. domestic firms have been sort of left out in this discussion. the way to approach is to lower the rate on domestic business operations to attract jobs, to attract in down capital and more jobs as a result of that. and then to offer multinational firms a fair system with respect to their international operations. when you look at the tax rate, you see these countries where they actually operate with large economies. those tax rates are still in the high 20's at the moment. if we were to offer your firm's a worldwide rate in the mid 20's, we would be smack dab in the middle of where the oecd, the g-seven, the major economies are today with respect to fair income. one footnote, when we make these comparisons, we have a tendency t

apparently the legislature did a little tax changes in senator wyden's state. i think on the tax expenditure side we're kind of presenting unprecedented testimony today to say, look, let's put them all on the table but let's use them to achieve what, again, senator wyden mentioned, get that rate low. if you start losing these and i think the finance committee has got, you know -- we're counting you to be the champion to fight the poaching of these by other spenders or other interests around the congress who haven't studied the issue the way you have, but you've got to protect them in order, i think, to drive the rate down. if you lose them you can't go as low with the rate and then you get a lot of different distortion. and i think unequal effects. none of these tax expenditures got here by themselves. they were voted in because somebody was persuaded they were a good policy decision at the time but now we're saying, let's all come to the table, put everything on the table and see if we can just flat out get a permanent, more competitive structure. and i think

wyden: mr.dent, i'm going to take just a few minutes this morning to take on the naysayer caucus that has developed on the issue of tax reform. the presiding officer: the senate is in a quorum call. mr. wyden: i ask unanimous consent to vacate the quorum call. the presiding officer: without objection. mr. wyden: mr. president, i will just take a little time this morning to, as i indicated, make some remarks with respect to this issue of tax reform and particularly try to lay out why the naysayers, those who say oh, tax reform isn't going to make any difference any time soon or there hasn't been a lot of groundwork laid, those are the two major arguments they are making. mr. president, i'm going to try to lay out why those arguments are wrong. to start with, they reflect a misunderstanding about markets and about free enterprise and about what drives the american economy. one of the major reasons that consumers are not spending and businesses aren't hiring workers is uncertainty about taxes. enac

wyden: mr. president? sproeup the senator from oregon. -- the presiding officer: the senator from oregon. mr. wyden: mr. president, i rise in opposition. our exporters face major challenges in global markets. we're faced with surging imports from china. china has a regime in place that is cheating american innovators and forcing them to share their intellectual property. instead of dedicating the scarce resources of the international trade commission to look into these issues and identify other foreign trade barriers that impede our exporters, we would essentially pass the international trade commission to tell us what we already know. for example, we know that in the case of the pending agreements, we had an opportunity to get a better deal for our companies that export automobiles and to promote human rights in colombia by reducing violence. we're on the precipice of considering these agreements. let's not turn back the clock. instead of using scarce resources to have an armchair debate about what we alr

he and senator wyden work together in a very collaborative and intense efforts to look at the tax code, which is a monstrosity by anyone's definition. we appreciate the work. let's go to the witnesses. alice rivlin really needs no introduction before this committee. welcome, please proceed. >> thank you mr. chairman, senator sessions and members of the committee. i'm delighted to be back here and want to reinforce what has been said, that there is a chance for why partisan cooperation now. this is a critical moment for this committee to focus on employment and job creation and for the congress to take action. the future of the united states is a prosperous economy and is a world power depends on getting people back to work in productive jobs. unless employment accelerates sufficiently to keep up with a natural increase in the labor force and gradually absorbs the unemployed and the hidden labor force of discouraged and part-time workers, we are doomed to stagnation and standard of living. this fate is not necessary. we have jobs that need to be done in both the public and the private s

he and senator wyden work together in a very collaborative and intense efforts to look at the tax code, which is a monstrosity by anyone's definition. we appreciate the work. let's go to the witnesses. alice rivlin really needs no introduction before this committee. welcome, please proceed. >> thank you mr. chairman, senator sessions and members of the committee. i'm delighted to be back here and want to reinforce what has been said, that there is a chance for why partisan cooperation now. this is a critical moment for this committee to focus on employment and job creation and for the congress to take action. the future of the united states is a prosperous economy and is a world power depends on getting people back to work in productive jobs. unless employment accelerates sufficiently to keep up with a natural increase in the labor force and gradually absorbs the unemployed and the hidden labor force of discouraged and part-time workers, we are doomed to stagnation and standard of living. this fate is not necessary. we have jobs that need to be done in both the public and the private s

wyden: would the senator yield for a a unanimous consent request? i think because 5:00 is coming, i think we need to get it done. mr. hatch: i will yield without losing my right to the floor. mr. wyden: i thank my colleague, and certainly when i'm done, you're next to continue your comments. i ask unanimous consent that the pending mcconnell amendment 626 be modified with the demint language which is at the desk and senator hatch or his designee then be recognized to offer amendment 641, that the time until 5:00 p.m. be equally divided between the two leaders or their designees for debate on the mcconnell amendment as modified, that at 5:00 p.m. the senate proceed to executive session to consider the following judicial nominations. calendars 169 and 170, that there be 50 minutes of debate equally divided, that upon the use or yielding back of time, calendar 169 be confirmed and the senate proceed to calendar 170, the motions to reconsider be considered made and laid on the table, no further motions be in order to any of the nominations, that any sta

as a member of the subcommittee, i wanted to join senator wyden's delegation to price u.s. officials for exactly the kinds of questions we examine today. that's why was extremely disappointed that chairman isah rejected my request. they should not be allowed to drink bipartisan delegation to list a republican from a committee joins. this is a misguided policy that has no basis for rul and policies. the policy established by speaker pelosi and continued to speaker boehner is every foreign delegation must be bipartisan and include a republican and democrat from each committee. i'm sorry, not included republican delegation. it meets the standard because it has another republican house member from the david schweiker. but the committee and house administration opposite interparliamentary affairs have come from this misguided policy is not the spkers, the chairman isaiah's a loan. i ask unanimous consent to chairman issa to immediately reverse this policy. thank you. >> going to hold off a ruling on that. but you might have a chance to look at the letter? >> certainly. >> you ma

senator wyden? >> thank you, madam chair and chair rogers as well for this important session today. yes mep, i want to ask a couple questions about intelligence reform. let me start with you director petraeus because you've had a chance to look at intelligence reform both as a senior military officer and now in your current capacity as cia directer. my question, i think, to start, director petraeus, have there been instances where you have said thank god there is a director of national intelligence or thank god there's a national counterterrorism center? can you give us a couple examples since you've had both of these experiences where you looked at specific up stances and said this is a place where intell reform has made a big difference. >> well, in fact, this past weekend, in fact, as we were working through to confirm various threat streams and as i mtioned earlier, this -- there was a credible threat, and it was an important one, not just because of 9/11, but because of all the piec that seemed to be coming together. it started with informati gathered by agency individuals, and

he and senator wyden work together in a very collaborative and intense efforts to look at the tax code, which is a monstrosity by anyone's definition. we appreciate the work. let's go to the witnesses. alice rivlin really needs no introduction before this committee. welcome, please proceed. >> thank you mr. chairman, senator sessions and members of the committee. i'm delighted to be back here and want to reinforce what has been said, that there is a chance for why partisan cooperation now. this is a critical moment for this committee to focus on employment and job creation and for the congress to take action. the future of the united states is a prosperous economy and is a world power depends on getting people back to work in productive jobs. unless employment accelerates sufficiently to keep up with a natural increase in the labor force and gradually absorbs the unemployed and the hidden labor force of discouraged and part-time workers, we are doomed to stagnation and standard of living. this fate is not necessary. we have jobs that need to be done in both the public and the private s

i congratulate you, senator wyden, for trying to come up with some ideas to make this country better. >> i thank senator sessions for that observe eags. i add my voice, actually this effort, as senator sessions knows, started with senator gray, twhofse ranking republican on this committee. he and senator widen -- wyden worked together in a collaborative and intense effort to look at the tax code which is a monstrosity by anyone's definition. we appreciate the work. let's go to the witnesses. alex rivlin really needs no introduction before this committee. welcome. please proceed. >> thank you, mr. chairman. senator sessions and members of the committee, i'm delighted to be back here. i want to reinforce what has been said, there's a chance for bipartisan cooperation now and i hope the congress seizes it. this is a critical moment for this committee to focus on employment and job creation and for the congress to take action. the future of the united states as a prosperous economy and world power depends on getting people back to work in productive jobs. unless employment accelerates suf

it will not be just disaffected democrats, it will be independents who joined us to come and wyden thiset and take the country back. it will not stop there. it will be people who have never been political a day in their life. they are fearful for the nation. they too will get up off the couch. they will join us. they will help us. they will help us take the nation back. it will be republicans, and it will be the glorious tea party. and all of us together will come together in this wonderful umbrella that says, we too, we will also keep the faith. we will forge that went on the chain. we will enjoy an unparalleled future based in liberty and based in the god-given protection that we have enjoyed for two hundred 35 years. this is our card. -- 235 years. this is our charge. join me, let us join together. in 2012 we will once again be the greatest nation on earth. god bless you. god bless the united states of america. thank you for having me. i love you all. thank you, everyone. god bless you. i love you all. god bless you [applause] . -- you. [applause] [music playing] [applause] [music pl

as a member of the subcommittee, i wanted to join senator wyden's delegation to price u.s. officials for exactly the kinds of questions we examine today. that's why was extremely disappointed that chairman isaiah rejected my request. they should not be allowed to drink bipartisan delegation to list a republican from a committee joins. this is a misguided policy that has no basis for rules and policies. the policy established by speaker pelosi and continued to speaker boehner is every foreign delegation must be bipartisan and include a republican and democrat from each committee. i'm sorry, not included republican delegation. it meets the standard because it has another republican house member from the david schweiker. but the committee and house administration opposite interparliamentary affairs have come from this misguided policy is not the speakers, the chairman isaiah's a loan. i ask unanimous consent to chairman issa to immediately reverse this policy. thank you. >> going to hold off a ruling on that. but you might have a chance to look at the letter? >> certainly. >>

health care, and we worked to the committee for economic development very closely with both senator wyden and senator benet and senator benet lost the primary as a result of one of the early tea party actions. so, i think to make all of this work there needs to be more voices from individuals and groups who are actually helping to strengthen the backbone of the members of congress otherwise we are likely to see groups at the extreme trying to pick off the very people that we need to provide a resolution to some of these issues. >> i would just say that that's a very logical and yet history has now proven that for the last i was a three major issues that we have had billy and i and many others build a bipartisan group of people to deal with the health care issue business, labour, the seniors, aarp, we failed miserably to create eight bipartisan backbone and cover for people. i think on the debt ceiling there was an enormous amount certainly everyone would say we cannot let this country off the cliff of a debt ceiling or few people would say we will see what happens and get that wouldn't se

i know you've done this for senator wyden and his good work, and senator coates this year. i know there's tax estimates on the individual and corporate side; is that correct? >> well, you know, officially, we never comment on work we do for individual members, but if senator wyden told you that we did work for him, we did. >> i just revealed a great secret here. there's been a lot of work done on the impact of some of these changes and preferences -- >> we have done work on a number of provisions that are like a number of things that people want to look at when they talk about modifying tax expenditures, but, again -- >> yeah. >> it matters what you want to do. >> can you tell us what the cost of eliminating emt under the next ten years under the current law baseline? >> yeah, i think so -- >> 1.7 -- >> i think we're a little bit about 1.1 or $1.2 trillion. >> with or without extension of the tax cuts, current policy or current law? under the current law baseline? >> that's under present law which assumes that -- >> e limb in this case of all of -- elimination of all bush t

as a member of the subcommittee, i wanted to join senator wyden's delegation to price u.s. officials for exactly the kinds of questions we examine today. that's why was extremely disappointed that chairman isaiah rejected my request. they should not be allowed to drink bipartisan delegation to list a republican from a committee joins. this is a misguided policy that has no basis for rules and policies. the policy established by speaker pelosi and continued to speaker boehner is every foreign delegation must be bipartisan and include a republican and democrat from each committee. i'm sorry, not included republican delegation. it meets the standard because it has another republican house member from the david schweiker. but the committee and house administration opposite interparliamentary affairs have come from this misguided policy is not the speakers, the chairman isaiah's a loan. i ask unanimous consent to chairman issa to immediately reverse this policy. thank you. >> going to hold off a ruling on that. but you might have a chance to look at the letter? >> certainly. >>

what i have supported on my website i have a bi-partisan bill with senator wyden and senator coats. if it's a broad sweep i'm interested to look eight. if it's singling out one thing i'm not interested in it. they heard from some of us don't single out one industry, we all have to do our part but do it in a way that is comprehensive and do it so it creates certainty to our business community. oil and gas industry is strong in alaska, but also it can be strong for this country. i know you guys have talked about it on fox many times, and we would just love to open up some areas in alaska so we can explore and create an enormous amount of job potential within this country right here with our resources. i want to see a broad approach not a single industry penalty. jenna: it will be an interesting topic to discuss. next time you have one of those meetings with the sevens we'd love an invitation, just to put it out there senators. next time. >> bring the beer and we'll be there. jenna: can't make any promises, we'll see what we can do. nice to see you again, sir. jon: the gop presidential

as a member of the subcommittee, i wanted to join senator wyden's delegation to price u.s. officials for exactly the kinds of questions we examine today. that's why was extremely disappointed that chairman isaiah rejected my request. they should not be allowed to drink bipartisan delegation to list a republican from a committee joins. this is a misguided policy that has no basis for rules and policies. the policy established by speaker pelosi and continued to speaker boehner is every foreign delegation must be bipartisan and include a republican and democrat from each committee. i'm sorry, not included republican delegation. it meets the standard because it has another republican house member from the david schweiker. but the committee and house administration opposite interparliamentary affairs have come from this misguided policy is not the speakers, the chairman isaiah's a loan. i ask unanimous consent to chairman issa to immediately reverse this policy. thank you. >> going to hold off a ruling on that. but you might have a chance to look at the letter? >> certainly. >>

senator wyden has a proposal of his own.nt that we have among us and many others is that in addition to controlling the excessive spending appetite of washington and getting our spending under control, which is undoubtedly an important and necessary piece of the reform of our fiscal policy, we also need a pro gauche growth element of our fiscal policy and our economic policy. and we will focus not only on the austerity and a proper fiscal policy relating to expenditures, for spending, but also with regard to those kinds of reforms that i think are started at the foundation, with the fundamental reform of our tax code which would generate pro-growth opportunities for our country and strengthen our economy. today's hearing focuses on the issue of tax reform. and as you said, we have an astounding panel to discuss this. that this is needed is hardly in dispute in the united states today. but there are a tremendous number of ideas about how we should do it. you have identified a number of pieces of the complexity of the tax code

president, alana but senator ron wyden i've introduced a bill that 24 of ourh sides ofhe colleagues on both sides of theo- all have already co-sponsored. been our bill has been endured by 292dividual impleader organizations and individualusinesses. businesses. 292 businesses and organizations representing the employers. how that shows you just how worriedut our job creators are about the impact about their roles.of their letters sums up the impact of the role played and it says these rules place at risk tens of thousands of high-payingn cnot manufacturing jobs that our nation cannot afford to lose. i ask unanimous consent thatseme thisnt l endorsement letter and "thelighti wall street journal" articlenghe highlighting the job study be the printed in the record at the the conclusion of my remarks.em ..the presiding officer: without objection. ms. collins: mr. president the boiler regulation are exactly the kind of significant rules that my regulatory time-out act is intended to reach. the moratorium applies to rules issued by independent regulatory agencies such as the national labor re

when i called ron wyden, i said, "sir, you have made yourself to be apolitical grew over the citizens" i called greg walden and i said, "i will not give you a pass on this either." one of his staff members said, "yes, greg walden is very concerned, because people in his district are calling him and are saying that they cannot get medicines they need in the district." sir, i will not give anybody a pass. you are not representing the american people and doing the job you said you're doing to protect if you cannot even tell us that our medicines are correct and will not make us sick and we can get them and we need them. host: i think the caller is referring to howard gardner of "the new york times." guest: shortages is a related issue that is an extremely important help issue right now. we have shortages of a number of essential medicines. some of the drugs -- more than 100 essential medicines. some of the drugs seem to be .elated to quality problems some of the other part of the shortage problem is economic. you have one manufacturer making a product, and for whatever reason, they decid

senator wyden? >> thank you, madam chair and chair rogers as well for this important session today.yes mep, i want to ask a couple questions about intelligence reform. let me start with you director petraeus because you've had a chance to look at intelligence reform both as a senior military officer and now in your current capacity as cia directer. my question, i think, to start, director petraeus, have there been instances where you have said thank god there is a director of national intelligence or thank god there's a national counterterrorism center? can you give us a couple examples since you've had both of these experiences where you looked at specific up stances and said this is a place where intell reform has made a big difference. >> well, in fact, this past weekend, in fact, as we were working through to confirm various threat streams and as i mentioned earlier, this -- there was a credible threat, and it was an important one, not just because of 9/11, but because of all the pieces that seemed to be coming together. it started with information gathered by agency individuals

let's put them all on the table might use them to achieve what senator wyden mentioned, it getting that rates low. if you start losing these, and we're counting on you to champion the poaching of these by other spenders or other interests around the contras -- around the congress, who have not studied the issue the way you have. you have to protect them to drive the rate down. if you you lose them, you cannot go as low with the rate. and then you get different distortions. and unequal effects. none of these tactics been ditchers got here by themselves. they were voted in because someone was persuaded they were a good policy decision at the time. now we are saying, let's all come to the table and put everything on the table and flat out get a more permanent, competitive structure. and that is an interesting conversation. >> it seems to me that there is a lot of agreement that the focus on reducing spending growth should be the highest priority. chairman greenspan indicated you should not worry about going too far with that. but even the proposal that i laid out, which takes spending to 1

senator cantwell, senator murray, senator wyden, and senator merkley. now, if you look at this site the columbia river, for those of you know your geography know, the clum why river when it gets closer to the west side of the state separates the state of oregon and the state of washington. to the north, north of columbia is washington state, south is oregon. these senators need to step up to the plate. and these senators need to do their job. they need to speak to the majority leader, we understand the majority leader who wants to protect the state of nevada, so i'm not trying to lift mountains i can't personally lift. but what i can do is start making the clarion call to senators around this country who have high level nuclear waste in their state, when we have already spent $12.5 billion for a single repository, and as i have said numerous times, underneath a mountain, in a desert. the numbers here in washington on the house side we have overwhelming majority in the other body, their majority is not as big as it once was. and because of that these sen

senator wyden? >> thank you, madam chair and chair rogers as well for this important session today.yes mep, i want to ask a couple questions about intelligence reform. let me start with you director petraeus because you've had a chance to look at intelligence reform both as a senior military officer and now in your current capacity as cia directer. my question, i think, to start, director petraeus, have there been instances where you have said thank god there is a director of national intelligence or thank god there's a national counterterrorism center? can you give us a couple examples since you've had both of these experiences where you looked at specific up stances and said this is a place where intell reform has made a big difference. >> well, in fact, this past weekend, in fact, as we were working through to confirm various threat streams and as i mentioned earlier, this -- there was a credible threat, and it was an important one, not just because of 9/11, but because of all the pieces that seemed to be coming together. it started with information gathered by agency individuals

senator wyden? >> thank you, madam chair and chair rogers as well for this important session today.yes mep, i want to ask a couple questions about intelligence reform. let me start with you director petraeus because you've had a chance to look at intelligence reform both as a senior military officer and now in your current capacity as cia directer. my question, i think, to start, director petraeus, have there been instances where you have said thank god there is a director of national intelligence or thank god there's a national counterterrorism center? can you give us a couple examples since you've had both of these experiences where you looked at specific up stances and said this is a place where intell reform has made a big difference. >> well, in fact, this past weekend, in fact, as we were working through to confirm various threat streams and as i mentioned earlier, this -- there was a credible threat, and it was an important one, not just becausef 9/11, but because of all the pieces that seemed to be coming together. it started with information gathered by agency individuals,

wyden: mr. president, i rise in opposition to the hatch amendment. in a time of surging chinese imports, high unemployment and widespread economic pain, the hatch amendment would make it harder for workers, companies and farmers to be -- to obtain trade adjustment assistance and be better positioned to compete in the global economy. the hatch amendment would take us back to the standard for qualifying for t.a.a. benefits. chairman baucus and chairman camp put together a reasonable t.a.a. agreement that is bipartisan. that bipartisan agreement ought to be preserved which is why the amendment by the senator from utah should be rejected. i strongly urge a "no" vote on the amendment. mr. hatch: mr. president? the presiding officer: the senator from utah is recognized. mr. hatch: i ask for the yeas and nays. the presiding officer: is there a sufficient second? there appears to be. the clerk will call the roll. vote: vote: the presiding officer: are there any senators in the chamber who wish to vote or to change a vote? if not, on this vote, the yeas are 4