TRANSCRIPT

Whip Hoyer on the Republicans Once Again Giving the Wealthy a Tax Cut While Increasing Our Debt
May 10, 2006

BY CERTAINLY -- MR. SPEAKER, BY CERTAINLY BE INTERESTED IN ENTERING INTO A COLLOQUY WITH THE GENTLEMAN. HE HAS A LOT OF TIME. APPARENTLY HE DOESN'T WANT TO USE THAT TIME. THE SPEAKER PRO TEMPORE: THE GENTLEMAN FROM MARYLAND CONTROLS THE TIME. MR. HOYER: THE FIRST PLANK OF THE CONTRACT WITH AMERICA WAS FISCAL RESPONSIBILITY. NO POLITICAL PROMISE HAS EVER BEEN SO BROKEN AS THAT ONE. MR. SPEAKER, THIS BLATANTLY UNFAIR AND GROSSLY IRRESPONSIBLE LEGISLATION REPRESENTS THE LAST GASP OF THE REPUBLICAN PARTY'S FAILED ECONOMIC POLICY. WHICH HAVE ONLY CAUSED GREATER DISPARITY IN AMERICA AND DRIVEN OUR NATION INTO THE FISCAL DITCH OVER THE LAST 5 1/2 YEARS. TODAY OUR REPUBLICAN FRIENDS ARE DESPERATE TO PASS THIS CONFERENCE REPORT BECAUSE THEY REALIZE THAT AFTER NOVEMBER THE PARTY'S OVER. MAKE NO MISTAKE, MR. AND MRS. AMERICA ABOUT WHAT THIS LEGISLATION MEANS TO YOU. ACCORDING TO THE URBAN INSTITUTE, BROOKINGS INSTITUTION TAX POLICY CENTER IF YOU'RE AMONG THE .02 HOUSEHOLDS MAKING ONE MILLION A YEAR YOU GET A TAX CUT OF $42,000. IF YOU'RE STRUGGLING TO AND MAKING BETWEEN $10,000 AND $20,000 YOU GET $2 A YEAR. IF YOU'RE FIRMLY IN THE MIDDLE WITH HOUSEHOLD INCOME BETWEEN $75,000 AND $100,000 YOU GET ABOUT $400 A YEAR. $7.75 PER WEEK. ENOUGH TO PURCHASE ABOUT THREE GALLONS OF GASOLINE. YESTERDAY REPUBLICAN SENATOR OLYMPIA SNOWE OF MAINE STATED AND I QUOTE, THE PREPONDERANCE OF THESE REVENUES WILL GO TO UPPER INCOME PEOPLE, PEOPLE WHO MAKE A MILLION DOLLARS OR MORE. IT'S A QUESTION OF PRIORITIES. PRIORITIES, INDEED. FOUR MONTHS AGO CONGRESSIONAL REPUBLICANS SLASHED $39 BILLION FROM STUDENT LOANS, MEDICARE AND MEDICAID AND CHILD SUPPORT ENFORCEMENT. AND TODAY 5.4 MILLION MORE AMERICANS LIVE IN POVERTY THAN WHEN PRESIDENT BUSH TOOK OFFICE. SIX MILLION MORE -- MAY I HAVE ONE ADDITIONAL MINUTE? MR. RANGEL: 30 SECONDS. MR. HOYER: SIX MILLION MORE ARE WITHOUT HEALTH INSURANCE. REAL MEDIAN HOUSEHOLD INCOMES DOWN $1,070 AND STILL REPUBLICANS WANT TO GIVE MILLIONAIRES A NEW LEXUS. THIS CONFERENCE REPORT IS A CONTINUATION OF 5 1/2 YEARS OF THE MOST IRRESPONSIBLE FISCAL POLICIES IN THE HISTORY OF OUR COUNTRY. I URGE MY COLLEAGUES, VOTE AGAINST THIS LEGISLATION. STAND UP FOR OUR COUNTRY, STAND UP FOR OUR CHILDREN, STAND UP FOR OUR GRANDCHILDREN. VOTE NO.