House Proceeding on Jun 14th, 2006 :: 1:10:43 to 1:15:20
Total video length: 1 hours 57 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:220 Duration: 0:04:37 Discussion

Previous speech:

Next speech:

1:06:57 to 1:10:43( Edit History Discussion )
Speech By: Marion Berry

1:10:29 to 1:10:43( Edit History Discussion )

Marion Berry: have two minutes remaining. the gentleman has to control the entire five minutes and cannot yield blocks of time. mr. olver: i cannot yield any further time? i cannot yield any time? the

1:10:43 to 1:10:55( Edit History Discussion )

Rosa L. DeLauro: chairman: that's correct. you cannot yield blocks of time. you can yield to anyone, but not for certain time periods. mr. olver: ah, i see. the chairman: the gentleman is recognized for two

1:10:43 to 1:15:20( Edit History Discussion )
Speech By: Rosa L. DeLauro

1:10:55 to 1:11:04( Edit History Discussion )

Rosa L. DeLauro: minutes. mr. olver: mr. chairman, thank you for the clarification, and i apologize for being a little bit offbase there. i yield to the gentlewoman from connecticut the remainder of the time.

1:11:04 to 1:11:24( Edit History Discussion )

Rosa L. DeLauro: the chairman: the gentleman had two minutes remaining and the gentlewoman from connecticut has three minutes remaining, so the gentlewoman is recognized for five minutes. ms. delauro: i

1:11:24 to 1:11:42( Edit History Discussion )

Rosa L. DeLauro: thank the gentleman. i think that we ought to lay something out very clearly here. first of all, the notion that these are folks who are going to compete equally with other corporations

1:11:42 to 1:11:56( Edit History Discussion )

Rosa L. DeLauro: that do not have the same tax advantage has been decried by the g.a.o., the government accountability office. let me repeat their commentary. it found that contractors who go overseas for

1:11:56 to 1:12:11( Edit History Discussion )

Rosa L. DeLauro: the ostensible purpose of reducing their tax obligation to the united states , and i quote, they can offer a price that wins a contract based more on tax considerations than on factors

1:12:11 to 1:12:25( Edit History Discussion )

Rosa L. DeLauro: such as the quality and the cost of producing goods and services. they have a tax advantage because they do not pay what they're supposed to pay in taxes in the united states. and, in fact,

1:12:25 to 1:12:37( Edit History Discussion )

Rosa L. DeLauro: let me just be very clear again that this amendment simply continues what current law is. it extends the provision that was accepted in the kmbs last year -- in the conference last year. these

1:12:37 to 1:12:51( Edit History Discussion )

Rosa L. DeLauro: companies have not suffered anything with regard to their bottom line. as a matter of fact, they're making profits hand over fist and they are taking advantage of the tax loophole. yes, they make

1:12:51 to 1:13:05( Edit History Discussion )

Rosa L. DeLauro: that decision, but the decision is ours as to whether or not we allow them to come back and to compete for federal contracts. you know, i don't have a preference for what they choose. under

1:13:05 to 1:13:25( Edit History Discussion )

Rosa L. DeLauro: the law, they can do what they want, but they should not be allowed to pretend to be an american company when it is time to get contracts, but then claim to be an offshore company when the tax bill comes.

1:13:25 to 1:13:39( Edit History Discussion )

Rosa L. DeLauro: i also want to point out that this does not jeopardize and it does not affect existing contracts, just as it did not this year. this is about the future. and i also want to make a point that

1:13:39 to 1:13:54( Edit History Discussion )

the 2004 tax bill did not apply to companies who already have moved offshore. there are more than 25 such companies that currently operate with a tax advantage that their u.s. counterparts do

1:13:54 to 1:14:09( Edit History Discussion )

Rosa L. DeLauro: not enjoy. so do not bring up the 2004 tax bill, because it is not applicable. this is very clearly stated -- can you tell me how much time is remaining on my time? thank you. the chairman:

1:14:09 to 1:14:18( Edit History Discussion )

Rosa L. DeLauro: the gentlewoman has two minutes remaining. ms. delauro: is there any other time on the other side? the chairman: all time has expired on the other side. ms. delauro. all time has expired. what

1:14:18 to 1:14:34( Edit History Discussion )

Rosa L. DeLauro: we want -- ms. delauro: all time has expired. what we want to do here is have companies be good corporate citizens. we're asking them like any other american to pay your fair share of taxes.

1:14:34 to 1:14:49( Edit History Discussion )

Rosa L. DeLauro: that's what this is all about. if we did more to discourage companies from setting up just post offices overseas to reduce their tax burden, we would have more funding available in this bill for

1:14:49 to 1:15:07( Edit History Discussion )

Rosa L. DeLauro: other purposes. the notion that countries are going to retaliate -- i mean it's almost laughable. barbados is going to retaliate against the united states? the cayman islands? antigua? bermuda?

1:15:07 to 1:15:20( Edit History Discussion )

Rosa L. DeLauro: i mean that is truly -- it really is laughable that that would be a part of this debate. again why do we want to encourage companies to go offshore, to set up a post office box, and not pay their

1:15:20 to 1:15:34( Edit History Discussion )

fair share and their obligation in taxes to the united states? i would just say to my colleagues, we have an opportunity here, again, people voted on this last year. i hope those who voted yes