[Congressional Record Volume 156, Number 149 (Tuesday, November 16, 2010)]
[House]
[Page H7457]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            VALUE-ADDED TAX

  (Mr. PITTS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. PITTS. Mr. Speaker, in May, 154 of my Republican colleagues and I 
sent a letter to the President's Fiscal Commission asking them to 
reject a new value-added tax as a way to balance the Federal budget. 
With top White House advisers like John Podesta and Paul Volcker 
talking about the need for a VAT tax, there was great concern that the 
Fiscal Commission would look to this tax as an easy way to raise more 
revenue. Last week, I was pleased to see that the cochairs released a 
preliminary report that did not call for a new VAT tax.
  The ease with which a VAT tax can raise revenue makes it especially 
dangerous. The government cannot create jobs, and a VAT tax would only 
further deplete resources from the private sector, the true center of 
job growth.
  Now we need to have a serious debate in Congress about the best ways 
to control government spending and let the private sector flourish, 
grow, and create sustainable jobs.

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