Senate Proceeding on Mar 30th, 2009 :: 5:36:50 to 5:39:10
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5:36:46 to 5:37:06( Edit History Discussion )

Orrin Hatch: our effective rates. mr. hatch: will the senator yield? mr. conrad: i am happy to yield. mr. hatch: i understand the nominal rate th about taxing the corporate profits that are earned overseas, no other major industrialized nation in the world does that.

5:36:50 to 5:39:10( Edit History Discussion )
Speech By: Orrin Hatch

5:37:07 to 5:37:27( Edit History Discussion )

Orrin Hatch: if they do that they make us globally income pettive. in the last couple of -- globally income pettive. i have been trying to raise money for the senatorial committee and as i call it is amazing how many corporate executives say, we love this country and we want our companies to grow in this

5:37:28 to 5:37:49( Edit History Discussion )

Orrin Hatch: country. we want to be able to stay here and some of them are second generation folks but i've had a do some of the corporate tax changes and the taxes assessed in this bill, they will move. one said, i will have to

5:37:50 to 5:38:10( Edit History Discussion )

Orrin Hatch: manufacture my company to switzerland because -- move my company to switzerland because we will not be competive in that budget passes. now, i believe you can make arguments, arguments that the nominal rate maye -- may be something that must be considered and i think it should.

5:38:11 to 5:38:32( Edit History Discussion )

Orrin Hatch: but i don't think you can argue against the fact we're doing some very stupid things in thi budget and, frankly, in the end we may wind up having a lot more difficulty and we may lose even more of our major businesses because to be competive they'll move and a lot of them have already moved. so let's wake up around here and

5:38:33 to 5:38:53( Edit History Discussion )

Orrin Hatch: let's realize that, you no, look, i distinguished senator fro dakota. he has one of the tougher jobs, he and his colleague, senator, the senator from new hampshire, judd gregg, have one of the tougher jobs in the history of the country. doing these budgets, very, very

5:38:54 to 5:39:13( Edit History Discussion )

Orrin Hatch: difficul problems that we have but i've sock corporate america like you can't believe and frankly one of them have the third point on the prong and that is corporate profits overseas. it's just a matter of reality