Hidden tax breaks found in 'fiscal cliff' deal
Sen. Corker reacts to how deal went down
- Duration 5:05
- Date Jan 3, 2013
Sen. Corker reacts to how deal went down
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This transcript is automatically generated
There's a new record -- or tax breaks in the budget deal that you probably did not here rebel.
And these were largely backed by democratic senators and committee months ago.
Hollywood gets two -- -- forty million dollars or encourage film and TV production here in the US.
Million -- railroad operators maintaining the tracks Puerto Rico in the US Virgin Islands 222 million for refund for.
Rum produced there and shipped here.
59 million algae growth to -- encourage the production of biofuels.
-- paid for Tennessee Republican senator Bob -- voted yes on the cliff deal -- -- senator good morning to you and elegant more and ears are a lot a lot of head -- and then head scratch and -- how are you able to hold your nose and vote yes on the answer.
But you know those were all for what it's worth current law and there were actually nineteen provisions that were dropped but all those things you just mentioned have been offers -- our country that look this is that a terrible luck have to type in bill when you -- -- of the floor.
You can always run from these votes and -- no I always look at myself on the defining votes as being the deciding vote myself and so the question is are we better.
With this bill passing are what we have been better with what was going to be law that.
And on that basis I don't think there's any question that we're better off with what past.
Now we've got this next quarter as -- talk in the off -- about we've got this next quarter to see if we can really do those things to save our country.
By putting in place real entitlement reforms prior to this down and I went -- -- -- that tonight -- your chance and that but this committee's thirteen Democrats voted yes on all the provisions are just ticked off.
Six Republicans voted in favor five by the Republicans voted against is going through the -- corporate welfare and I don't think he was -- with that.
Not -- -- -- -- to where things are right now what is your strongest hand.
With sixty days of debate before this debt ceiling comes up.
-- strongest hand are three things and that is the -- The continuing resolution and the sequester and we need to absolutely use those.
To do those things that I mention -- -- our country.
Back to the tax provisions that's why we should never have done this in the back room we would have come out in my opinion when things much better product on the senate floor.
And we should never let this happen again where where a deal like this is negotiated and back -- I was -- bill.
With the choice that had to be made well we better off passing it than having the five trillion dollar tax increase yet.
Do we need to get rid of all this corporate welfare absolutely this actually.
And our code bill one point two trillion dollars in our code each year.
That is just spending and another nine and that's why we need tax reform to Bill White what those loopholes and lower everybody's tax -- but look.
That's behind us -- sort of a rite of passage now to really looking at entitlement reform and I think people like you in the media.
Can really help of this because if you remember the president said he offered Boehner.
One trillion dollars in tax reduction I mean in and spending reductions and I don't think anybody in America has ever seen that -- than any kind of specific form.
And I think on a daily basis we should be calling this president out and getting him to produce.
This list of of cuts that he's talked about you know -- average.
-- -- -- we don't have a vote from.
-- you're following a lot of -- -- -- just frame it this way for me.
You say you a fundamental opportunity well -- you have an opportunity not a fundamentally change the way America work today and Wimbledon.
They've talked about that for years now.
There you go back -- the beginning of this term.
Now the first term for President Obama when the economy was -- it was in tatters.
And they've been waiting for something to change and all they see in the end.
Is that debt clock going higher and higher.
And while everybody was celebrate the new year it went to sixteen point four trillion with that as your best hand to play -- -- -- -- senator.
Now this this our best and supplies.
Is during this quarter but all three of these.
And -- offered bill specific legislation.
One trillion dollars and I entitlement reforms over the next ten years which ends up being wanna eat pray and over and I've offered a very specific bill on the senate Florida site.
For every dollar of entitlement reforms will raise the debt -- one dollar and that's the kind of thing that will save our country and what I hope is bill.
Is that people on both sides of the -- join hand but especially Republicans -- candidly.
I hope Republicans will join with me in saying that they're not gonna vote for a debt ceiling increase.
-- -- out through entitlement reform which again is the only thing that's gonna save this great nation right now.
Senator thank you we'll talk to -- next week okay.
Trichet on court -- on the hill.