| 00:00:01 |
none, -
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| 00:00:03 |
Unidentified Speaker, -
BUDGET. >> OKAY, GOOD AFTERNOON. THANK YOU VERY MUCH FOR COMING. MY NAME IS DAVID ANDERSON, I'M THE MEMBER OF THE NATIONAL PRESS CLUB NEWSMEEKER'S...
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| 00:00:26 |
Unidentified Speaker, -
START. I HOPE YOU ALL SIGNED IN BEFORE YOU CAME IN, IF NOT, PLEASE SIGN IN ON THE SHEETS THAT ARE OUTSIDE ON THE TABLE. THERE ARE ALSO HANDOUTS PROVIDED,...
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| 00:06:49 |
Unidentified Speaker, -
THE BUDGET
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| 00:06:50 |
Unidentified Speaker, -
IN MID- SUMMER. THIS HAS BECOME THE MID-SESSION REVIEW PRODUCED BY OMB THIS MORNING THE PRESIDENT ANNOUNCED THE RESULTS OF THAT REVIEW, SOME OF YOU MAY...
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| 00:24:16 |
Unidentified Speaker, -
DIRECT EVIDENCE OF THAT RELATIONSHIP? >> WELL, THE NUMBERS SPEAK FOR THEMSELVES. WHAT I SAID CONSISTENTLY WHEN I WAS IN CONGRESS AND NOW, IS THAT THE
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| 00:24:26 |
Unidentified Speaker, -
REASON TAX RELIEF WAS IMPORTANT WAS TO GET THE ECONOMIC GROWTH THAT WOULD RESULT IN GREATER REVENUES. THAT'S WHAT'S HAPPENED. SAME THING HAPPENED AT...
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| 00:24:41 |
Unidentified Speaker, -
AND MADE CERTAIN TOUGH DECISIONS ON SPENDING, BUT REALLY WHAT HAPPENED IS WE ACHIEVED BALANCE TWO YEARS EARLY BECAUSE THE ECONOMY GREW, THEREFORE REVENUES...
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| 00:25:34 |
Unidentified Speaker, -
WELL, ON THE ESTATE TAX, IT'S INTERESTING, WE SEE REDUCTION IN THE ESTATE TAX EVERY YEAR UNTIL 1010, IN 2011 IT COMES BACK IN FULL FORCE. WHAT IT...
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| 00:25:55 |
Unidentified Speaker, -
THE VARIOUS PROPOSALS YOU SEE THE HILL EFFECT THAT CURRENT SCENARIO DIFFERENTLY. BUT MOST PIGGYBACK ON THE EXISTING DECREASE IN THE TAX RATE AND INCREASE...
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| 00:26:14 |
Unidentified Speaker, -
CONGRESS IF YOU LOOK AT THE LATEST PROPOSAL TO PASS THE HOUSE, IT PIGGYBACKS ON THAT PROPOSAL SO I DON'T SEE A MAJOR CHANGE IN TERMS OF TAXES, EVEN AFTER...
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| 00:26:56 |
Unidentified Speaker, -
INCLUDES THE CHILD TAX CREDIT, INCLUDE IT IS 10% BRACKET, INCLUDES THES ARE CHANGES IN CONGRESS TO ADD ANOTHER TWO YEARS
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| 00:27:06 |
Unidentified Speaker, -
TO THE INVESTMENT SIDE, CAPITAL GAINS RELIEF AND ALSO THE DIVIDEND TAX RELIEF, IF YOU DON'T MAKE THOSE PERMANENT, IF THOSE TAXES INCREASE, THEN IN EFFECT...
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| 00:29:07 |
Unidentified Speaker, -
INCREASED ECONOMIC GROWTH
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| 00:29:08 |
Unidentified Speaker, -
LEADING TO MORE REVENUE GROWTH, WHICH OFFSET SOME OF THE SPENDING INCREASES WE HAVE SEEN IN THE GLOBAL WAR ON TERROR AND IN THE KATRINA, OTHER NATURAL...
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| 00:29:26 |
Unidentified Speaker, -
KEITH, AROUND THAT. AS OF THE END OF THIS FISCAL YEAR, I BELIEVE WE WILL HAVE SPENT ROUGHLY 123 BILLION DOLLARS IN RESPONDING TO THE TERRIBLE HURRICANES...
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| 00:32:28 |
Unidentified Speaker, -
GET BACK TO YOUO RYAN'S
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| 00:32:30 |
Unidentified Speaker, -
QUESTION IS TO WHAT DEGREE ARE THE INDIVIDUAL TAX RECEIPTS AND THE INCREASE WE'RE SEEING THIS YEAR BASED ON AMT AND PARTICULARLY THE EFFECT OF AMT...
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| 00:32:46 |
Unidentified Speaker, -
OBSERVATIONS BUT I DON'T KNOW THE ANSWER AND WILL GET BACK TO YOU ON IT. ONE IS BECAUSE OF THE AMT FIX THAT WAS IN PLACE FOR THIS YEAR, INCIDENTALLY...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.