House Proceeding on Jan 7th, 2009 :: 2:05:30 to 2:06:15
Total video length: 2 hours 32 minutes Stream Tools: Stream Overview | Edit Time

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1:23:25 to 2:12:10( Edit History Discussion )
Speech By: Brad Sherman

2:05:29 to 2:05:49( Edit History Discussion )

Brad Sherman: you lost money in 2008. no, you made and lost money over a period of years that have artificially divided into 12-month periods. so saying that you have to pay taxes on the money you made i 2007 but cannot get an immediate refund of those taxes when you discover that really

2:05:50 to 2:06:11( Edit History Discussion )

Brad Sherman: over the two-year period you've lost money is not consistent with good accounting theory. we should allow net operating loss carrybacks. the next thing is, these net operating loss deductions, they're going to be tan at some point. we might as well let them be taken now. and e ultimate increase in

2:06:12 to 2:06:34( Edit History Discussion )

Brad Sherman: the deficit, very small. so those are two provisions that i thi will encourage business and will provide a lot moreoney in expenditures today than ultimate increase in the deficit over a five-year period.