Blunt, Toomey, Thune

Executive Session (Pizzella Nomination)

Senator Blunt: (2:04 p.m.)

  • Spoke on the economy.
    • "While I was there, I had the opportunity to talk to small business owners, employees, people seeing their paycheck for the first time that reflected what we had done with the tax bill, but also I heard in both in my hometown of Springfield, Missouri, but around my state, a level of optimism that was really encouraging. One of the people I talked to was on the national board of manufacturers, and in a recent poll of the manufacturers that look - their competence level is the highest than it has been since they have been polling about what they saw about the future. Where you and I live, Mr. President, in an economy that makes things and grows things, we always do better. We are a productive part of the country."

 

Senator Toomey: (4:08 p.m.)

  • Spoke on tax reform.
    • "While I was there, the C.E.O. announced a $100 million investment right there in Reading, Burkes County, Pennsylvania, to upgrade their capabilities and their capacity to produce these soft magnetics. To be more precise, they are buying an entire new hot rolling steel mill in Reading, Pennsylvania, $100 million investment in a new mill that will allow them to expand their output and meet increasing demand for this really fascinating product that they make. One of the things that the leadership of carpenter technology made abundantly clear in their press release and in their public statements was that they were able to purchase this mill and make this $100 million investment in their company now because of the tax reform that we passed."

 

Senator Thune: (4:22 p.m.)

  • Spoke on tax reform.
    • "And so clearly the issue that we have in terms of the debt picture in the long term is not about revenue. It is about spending, which is growing dramatically over that next decade, particularly in what we refer to as mandatory spending or entitlement programs, which crisis out, I would argue, Mr. President, for reforms in entitlement programs. But to say that somehow tax reform is contributing to that is a far cry from the truth, and I think the Congressional Budget Office numbers bear that out. And again I would that are in terms of what they suggest we were going to see in growth as a result of the changes that we made in the tax code, I believe that it's going to be dramatically understated."